Oil prices stabilize as demand concerns balance tensions with Russia

Oil prices stabilize as demand concerns balance tensions with Russia
08:38 GMT – Oil prices are stable as concerns over Chinese demand are offset by geopolitical tensions after Russia cut off gas supplies to Poland and Bulgaria. Brent crude oil rose 0.2% to $104.88 a barrel while WTI added 0.1% to $101.86 a barrel. Russia’s decision to cut off gas supplies to the two European countries is adding to geopolitical tensions and supporting oil prices, analysts at SPI Asset Management said in a note. The move could open the prospect of more Russian shutdowns or the EU accelerating its phased withdrawal of Russian energy supplies, according to the company. Blockages in China, which are weighing on demand, are weighing on oil, according to SPI. ([email protected])
Companies News:
WPP 1Q revenue increased; Increases forecast for the full year
WPP PLC said on Wednesday first-quarter revenue increased as continued momentum from 2021 contributed to growth across all businesses and regions during the period.
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Fresnillo backs 2022 guidance as Q1 production line
Fresnillo PLC on Wednesday reaffirmed its 2022 production guidance as its mines performed in line with expectations in the first quarter.
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Darktrace Management, employees sell shares at 410 pence each
Jefferies International Ltd. said on Wednesday it had sold 6.1 million shares of Darktrace PLC on behalf of management and employees at 410 pence per share, as announced on Tuesday evening.
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M&G PLC CEO John Foley retires
M&G PLC said on Wednesday chief executive John Foley had decided to retire and would begin a process to appoint his successor.
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London Stock Exchange Group underlying income increased in Q1
The London Stock Exchange Group PLC said on Wednesday that total revenue for the first quarter rose on an underlying basis.
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United Utilities CEO Steve Mogford to retire in 2023
United Utilities Group PLC said Wednesday that chief executive Steve Mogford will retire next year and be replaced by Louise Beardmore as CEO designate.
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Persimmon YTD Performance in line with views; Demand remains strong
Persimmon PLC said on Wednesday its year-to-date performance was in line with expectations, with demand remaining strong and its rate of private sales about 2% higher year on year.
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Lloyds Says First-Quarter Pre-Tax Profit Falls But Beats Views; Improves 2022 forecast
Lloyds Banking Group PLC on Wednesday reported lower pre-tax profit for the first quarter of 2021, beating market forecasts of a bigger fall, and said it had improved its full-year guidance.
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Nichols Q1 revenue grew on strength of Vimto and pandemic recovery
Nichols PLC said on Wednesday first-quarter revenue rose 29% year-on-year as the Vimto brand outperformed the wider UK soft drinks market and the outside continued to recover from Covid-19 restrictions.
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Aveva Q4 Sales Increased 18%; sees a decline in FY2023 revenue
Aveva Group PLC said on Wednesday that fourth-quarter revenue grew 18% on a pro forma organic basis in constant currency, and that full-year 2023 revenue would be impacted by the timing of revenue recognition as well as the war in Ukraine.
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Metro Bank 1Q Loan deposits increased, assets fell
Metro Bank PLC said Wednesday that loans and deposits both increased year-on-year in the first quarter, although assets fell slightly.
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Ted Baker has received a number of non-binding takeover proposals
Ted Baker PLC said on Wednesday it had now received a number of non-binding takeover proposals and invited some of the parties to engage in a due diligence process.
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Drax sees 2022 EBITDA atop market views
Drax Group PLC said on Wednesday it expects to generate full-year earnings at the top of analysts’ expectations after a strong performance in the first quarter.
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Inspecs says first quarter performance was strong and revenue grew
Inspecs Group PLC said Wednesday that its performance for the first quarter of 2022 was strong, marked by significant revenue growth.
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Sportech declares special dividend of £7m
Sportech PLC on Wednesday declared a special dividend of seven million pounds ($8.8 million) which amounts to seven pence per share.
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GlaxoSmithKline 1Q earnings and revenue beat expectations
GlaxoSmithKline PLC on Wednesday posted higher first-quarter earnings and revenue, beating expectations as sales rose in the biopharmaceutical and consumer healthcare sectors.
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Coca-Cola Europacific Partners’ revenues increased in the first quarter; Declare an interim dividend
Coca-Cola Europacific Partners PLC said Wednesday that first-quarter revenue increased a year after it acquired Coca-Cola Amatil in May 2021 and declared an interim dividend.
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Go-Ahead 1H Pretax profit fell due to lower revenues
Go-Ahead Group PLC said on Wednesday that pre-tax profit for the first half of fiscal 2022 fell as revenue fell and that it intended to reinstate the payment of dividends.
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Bank of Ireland has had a positive start to 2022, with a strengthened capital position
Bank of Ireland Group PLC said on Wednesday it had started 2022 well, with net interest income, costs and capital in line with expectations, and added that its business momentum remained positive.
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Etalon Group’s first quarter new sales increased thanks to increased real estate demand
Etalon Group PLC said on Wednesday that new sales for the first quarter of 2022 had increased due to active demand for real estate, and that sales continued to be supported by the Russian state-backed mortgage program.
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WH Smith moved to 1H pre-tax earnings; Confident in the prospects of the exercise
WH Smith PLC reported a shift to pre-tax profit in the first half of financial year 2022, driven by a post-pandemic recovery in its markets, and said it was confident about the outlook for the financial year.
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Pendragon 1Q’s Underlying Pretax Earnings Jumped; View the full year online
Pendragon PLC said on Wednesday that underlying first-quarter pre-tax profit jumped on the year as it implemented its strategy, and it expects to meet the board’s expectations for the year ahead. whole year despite macroeconomic uncertainty and inflationary pressures.
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IG Design shares fall after fiscal 2022, market’s missing views on US performance
Shares of IG Design Group PLC fell on Wednesday after the company said it expected adjusted after-tax losses and adjusted loss per share for fiscal year 2022 to be significantly below market expectations.
Market Talk:
Lloyds Banking wins after ‘impressive’ start to year
09:10 GMT – Shares of Lloyds Banking Group are among the biggest risers in the FTSE 100, up 1.9% after the British bank reported better-than-expected first-quarter pre-tax profit and said it had increased its forecast for the full year. “Against the backdrop of an unstable UK economy and an increasingly pressured consumer, Lloyds has had a generally impressive start to the year,” Interactive Investor analyst Richard Hunter said in a note. “Pre-tax profit of £1.62bn compares to a previous figure of £1.9bn, although it beat expectations of £1.43bn the bank said. ” ([email protected])
United Utilities CEO’s succession considered reasonable
08:59 GMT – United Utilities’ decision to promote internally seems reasonable, RBC Capital Markets analysts say in a note. Steve Mogford is expected to step down as CEO in early 2023, while Louise Beardmore, the water company’s director of customer service and people, has been named to succeed him. Beardmore has made a significant contribution to improving performance metrics at United Utilities in more than seven years as director of customer service and people, the bank said. Shares rise 0.6% after the announcement. ([email protected])
Fresnillo’s challenges will continue in 2022 despite strong first quarter
08:56 GMT – Fresnillo is expected to continue to face challenges in 2022 as the underground mines are still understaffed and the Juanicipio plant’s power connection is still pending completion, but its first quarter performance sheds light positive, RBC mining analyst Tyler Broda said in a note. Silver production for the period beat expectations in what was expected to be a difficult quarter dominated by coronavirus-related absenteeism and the impact of new labor reforms in Mexico, he said. Fresnillo also reiterated his predictions for the full year. Shares rise 0.3%. “We see performance improving significantly after 2022, once operations are fully staffed and Juanicipio is commissioned,” Broda said. ([email protected])
Persimmon falls after sounding the warning in the update
08.51 GMT – Persimmon tumbled 1.3% after the homebuilder reported trade in line with expectations but said it remained mindful of uncertainties surrounding consumer confidence, rising interest rates and the Ukraine. Persimmon’s forward sales and cash are reassuring as the average sale price is up 5.5% to £266,000 and the company continues to find opportunities to buy land, Interactive Investor says in a report. note. Still, rising interest rates in the UK to combat a surge in inflation and a cost-of-living crisis for consumers is a concern, he says. “A price-to-net-asset ratio of almost twice for Persimmon is also well ahead of rivals such as Barratt and Bellway at less than one, suggesting the stock is obviously not cheap,” said said interactive analyst Keith Bowman. ([email protected])
Lloyds’ improved outlook for 2022 appears to lead to consensus upgrades
(MORE TO BE FOLLOWED) Dow Jones Newswires
April 27, 2022 05:33 ET (09:33 GMT)
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