Shares of companies with fracking interests rise on expected energy plan

Shares of UK companies with fracking interests rise on expected energy plan

07:52 GMT – UK companies with interests in onshore fracking for gas rose in early trading on Thursday after media speculation that new Prime Minister Liz Truss will lift a ban on fracking for oil. It is expected to present its energy plan on Thursday, and one of the measures planned is the end of the pause on fracking and oil exploration in the North Sea. UK Oil & Gas was up 19% at 0.13p, Egdon Resources was up 17% at 8.8p, IGas Energy was up 11% at 105.0p and Union Jack Oil shares were up climbed 8.3% to 47.0 pence in early trading. ([email protected])

 
Companies News: 

Thoma Bravo isn’t considering making an offer for Darktrace

Thoma Bravo LLC said on Thursday that it was not considering making a formal offer for Darktrace PLC, without offering any explanation as to why.

DCC acquires Medi-Globe Technologies

DCC announced Thursday that its healthcare division has agreed to acquire medical device company Medi-Globe Technologies GmbH.

Darktrace moves to FY2022 pre-tax profit, revenue surges on growth

Darktrace PLC said on Thursday it moved to a pre-tax profit for the 2022 financial year on the back of an increase in revenue as it saw an increase in the number of customers.

Associated British Foods sees FY2022 adjusted profit rise on sales growth

Associated British Foods PLC said on Thursday that its adjusted operating profit and adjusted earnings per share for the financial year 2022 should exceed those of the previous year thanks to strong sales growth, and that it expects sales to increase. , but lower earnings, in fiscal year 2023.

Vistry 1H Pretax Profit Slipped on Coating Costs; Backs FY 2022 Profit View

Vistry Group PLC said on Thursday that pre-tax profit fell for the first half of 2022 due to one-off costs related to restoring building security, although revenue rose and it supported its expectations for the whole year.

Melrose Industries Widened H1 Pretax Loss, Forecast Missed; Separate two companies

Melrose Industries PLC said on Thursday that its first-half pretax loss widened and missed a forecast after posting higher costs, and that it intended to separate the GKN automotive and GKN powder metallurgy businesses. through a split.

Funding Circle’s first-half pre-tax profit tumbled, lowering second-half revenue outlook

Funding Circle Holdings PLC said Thursday that pretax profit fell sharply in the first half of 2022 and downgraded its second-half revenue outlook, citing macroeconomic uncertainties.

Restaurant group’s first-half pre-tax loss narrowed as revenue grew

Restaurant Group PLC said on Thursday its pre-tax loss for the first half of 2022 narrowed as its revenue increased significantly.

Warpaint London Raises Sights in 2022 on Strong Performance

Warpaint London PLC said on Thursday that the strength in trading in the first half had continued into the second half of 2022 and now expects full-year results to beat market expectations.

National Express appoints Helen Weir as next chairwoman, James Stamp as interim CFO

National Express Group PLC announced on Thursday that Helen Weir will be its next chairwoman, replacing current chairman John Armitt, and that James Stamp will be named interim chief financial officer on November 1.

 
Market Talk: 

Planned Melrose split allows investors to benefit from profit recovery

08:08 GMT – The planned split of two companies by Melrose Industries will allow management to seek acquisitions and provide more clarity for potential buyers, Investec analysts Ben Bourne and Scott Cagehin say in a note. With an official launch in Q1, shareholder approval in Q2 and completion in Q2 or Q3, a spin-off next year allows investors to benefit from the remaining separate earnings recapture and Melrose to buy, either in aerospace or in a third stage, according to analysts. . “The split solution removes the risk that Melrose will have to tread water due to current market conditions. Given that the balance sheet has been significantly reduced, a split should be simple as the model is set up to allow companies to remain autonomous,” they say. ([email protected])

 

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

September 08, 2022 04:26 ET (08:26 GMT)

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