UK pre-market stocks update – Cineworld, Carnival, abrdn, Amigo

UK pre-market stocks update – Cineworld, Carnival, abrdn, Amigo

Investing.com – At 07:23GMT, FTSE 100 futures are trading flat at 7,486.

In FX markets, GBP/USD is trading at 1.3387, EUR/GBP is trading at 0.8316. The US Dollar Index is up 0.1%.

Bitcoin is trading at $37,020.

Today’s calendar highlights include Spanish GDPGerman GDPEurozone M3 Money SupplyEurozone Consumer ConfidenceUS Core PCE Price IndexPersonal IncomePersonal SpendingMichigan Consumer ExpectationsBaker Hughes Rig Count.

Stocks

Phoenix Group (LON:PHNX) / abrdn (LON:ABDN) – abrdn has announced that it has sold an aggregate of 39.98 million ordinary shares in Phoenix, representing approximately 4% of Phoenix’s issued share capital. The sale was at a price of 660 pence per share, raising aggregate gross sale proceeds of approximately £264 million. abrdn will still hold approximately 10.4% of Phoenix after the sale.

Carnival (LON:CCL) – Has seen a “dampening” in cruise bookings for the second half of the year in comparison to 2019. Carnival added it’s seen increased cancellations since the start of its fiscal year, due to positive Covid test results prior to travel and challenges in getting tests.

Cineworld (LON:CINE) – Cineplex has submitted, on 27 January 2022, a cross-appeal to Cineworld’s own appeal in respect of the decision of the Ontario Superior Court of Justice. Cineplex’s cross-appeal suggests that it should be awarded alternative forms damages, if the Ontario Court of Appeal determines that the damages award of the Ontario Superior Court of Justice is incorrect. Cineworld said it shall respond to the cross-appeal as part of the appeal process.

ConvaTec (LON:CTEC) – Entered into a definitive agreement to acquire Triad Life Sciences, a US-focused medical device company that develops biologically-derived innovative products to address unmet clinical needs in surgical wounds, chronic wounds and burns. Initial consideration of $125 million with potential $50 million for short-term milestones.

Amigo Holdings (LON:AMGO) – Danny Malone will be appointed on an interim basis as Chief Financial Officer, subject to approval by the FCA. The appointment as CFO is expected to take effect from 7 February 2022 and will be for a four month period until 7 June 2022.

Indivior (LON:INDV) – Announces publication of results from Buprenorphine-Fentanyl Interaction Study in PLOS ONE Peer-Reviewed Journal. Research indicates sustained high plasma concentrations of buprenorphine reduce fentanyl-induced respiratory depression in opioid-tolerant participants.

Paragon Banking Group (LON:PAGPA) – Total new lending for the quarter to 31 December 2021 increased by 35.7% to £708.0 million. The volume of new buy-to-let mortgage advances increased by 36.8% to £408.5 million. Trading performance has been in line with the Board’s expectations in Q1.

Capita (LON:CPI) – Agreed to sell Trustmarque to One Equity Partners for £111 million on a cash free, debt free basis. An additional circa £3 million is receivable by Capita contingent on certain future events.

Pennon (LON:PNN) – Initiating fourth phase of its circa £400 million share repurchase programme. Has entered agreement with Morgan Stanley (NYSE:MS) to purchase ordinary shares of 61.05 pence each in the share capital of Pennon for an aggregate purchase price of no greater than £50 million.

Quilter (LON:QLT) – Has completed its £375 million share buyback programme.

Ferrexpo (LON:FXPO) – Has launched a new corporate website.

YouGov (LON:YOU) – Full year results to 31 July 2022 are expected to be slightly ahead of the Board’s expectations. Remains confident of achieving top-line growth for the full year in line with the current long-term strategic growth plan, with modest margin expansion due to continued investment in the business.

Avon Protection (LON:AVON) – Trading has continued as expected and in line with the trends described in the results announcement on 15 December 2021. Supply chain disruptions, as communicated last year, continue but are now largely stable, with mitigating actions continuing to be taken. Confident of achieving its expectations for the current financial year. Detailed plans have been developed to complete the closure of the armor business during 2023 financial year. Also announced share buyback of up to £18.5 million.

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