UK market update – Rolls-Royce investor calls for board shake-up

0
20
imageStock Markets6 hours ago (Aug 31, 2021 08:35)

© Reuters.

By Samuel Indyk

Investing.com – At 08:32BST, the FTSE 100 is trading lower by 0.1% at 7,141. The midcap FTSE 250 is trading higher by 0.1% at 24,071.

In FX markets, GBP/USD is trading at 1.3793, EUR/GBP is trading at 0.8574. The US Dollar Index is down 0.2%.

Today’s calendar highlights include German labour market data, UK lending data, Eurozone CPI, Canadian GDP, US house price data, and Chicago PMI.

GlaxoSmithKline PLC (LON:GSK) – SK bioscience and GSK begin Phase 3 trial of adjuvanted Covid-19 vaccine candidate. Will evaluate the vaccine candidate against the Oxford/AstraZeneca Covid-19 vaccine. Aim is for global supply through COVAX facility in H1 2022.

Bunzl (LON:BNZL) – H1 revenue up 6.3% at constant exchange rates to £4.867 billion. Adjusted operating profit up 14.7% to £366.8 million. Boosts dividend by 2.5% to 16.2 pence per share. Outlook for 2021 unchanged.

Rolls-Royce (LON:RR) – The company’s largest investor, Causeway Capital, has called on incoming Chair Anita Frew to “refresh” the board. Causeway Capital also wants the company to consider the future of its power systems business.

Sainsbury ‘s (LON:SBRY) – Reportedly considering offloading its banking unit to Centerbridge, which could be worth around £200 million.

Computacenter (LON:CCC) – Current market forecasts remain below the Board’s expectations. Computacenter says even with a flat performance in H2 2021 compared to H2 2020, the company would finish the year 10% above current market expectations for FY adjusted profit before tax.

Hochschild Mining (LON:HOCM) – Announces interim dividend of $0.195 per share (previous: nil), paid on 28th September to shareholders on 10th September.

Old Mutual  (LON:OMU) – H1 gross flows up 7% to ZAR 96.989 billion. Announces interim dividend of 25c per share. Significant improvement in most key performance indicators and momentum from strategic initiatives in H1 has provided the base to increase medium term targets for 2023.

BHP (LON:BHPB) – Entered partnership with Caterpillar (NYSE:CAT) to develop zero-emissions mining equipment at BHP sites. 

The Renewables Infrastructure Group (LON:TRIG) – Offering shares via PrimaryBid at a price of 124 pence per share, a discount of 3.6% to the mid-market closing price on Friday. 

Meggitt (LON:MGGT) – Parker-Hannifin has entered into a new $2 billion term loan facility for the purpose of, amongst other things, financing any amount payable under or in connection with the acquisition of Meggitt.

Weir Group (LON:WEIR) – Upgraded to buy from hold at Peel Hunt. 

UK market update – Rolls-Royce investor calls for board shake-up

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here