The FTSE 100 climbed 0.2% on Monday, but losses from some of its largest stocks partially offset gains across the rest of the index, which ended up underperforming markets in mainland Europe. Pharmaceutical giants AstraZeneca and GSK dropped 1.1% and 0.3% respectively, British American Tobacco fell 2.7% and lender HSBC closed 0.7% lower. On the green part, the best performers included manufacturing group Melrose, fashion retailer JD Sports and copper producer Antofagasta. "European markets have got the week off to a positive start, helped by a strong Asia session after authorities in Shanghai said businesses could start to reopen on June 1, as Omicron cases continued to fall," Michael Hewson from CMC Markets UK said in a note. 


 
Companies News:

Foxtons to Name Guy Gittens as New CEO, Sky News Reports

Foxtons is set to appoint Guy Gittens as its new chief executive officer, replacing Nic Budden, Sky News reports, without citing sources.

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Authentic Brands Is In Talks to Finalize GBP300 Mln Takeover of Ted Baker, Sky Reports

Authentic Brands Group LLC is in talks to finalize a 300 million pound ($379 million) takeover of Ted Baker PLC, Sky News reports, citing unnamed sources.

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IMI to Buy Bahr Modultechnik for EUR98 Mln Enterprise Value

IMI PLC said Monday that it will buy electric linear motion specialist Bahr Modultechnik Holding GmbH for an enterprise value of 98 million euros ($105.2 million).

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Inclusive Capital Partners Considering $1.86 Bln Offer for Countryside

Inclusive Capital Partners L.P. said Monday that it has approached Countryside Partnerships PLC over a possible 1.47 billion pound ($1.86 billion) takeover of the house builder.

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UK Regulator to Probe Sika's Acquisition of MBCC Group

The U.K. competition regulator said Monday that it will begin a merger inquiry into the expected acquisition of MBCC Group by Sika AG.

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Randall & Quilter 1Q Gross Written Premium Nearly Doubled

Randall & Quilter Investment Holdings Ltd. said Monday that gross written premium increased significantly in the first quarter of 2022 when compared with the same period a year earlier.

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Shaftesbury Gets Date Extension for Capital & Counties Merger Talks

Shaftesbury PLC said Monday that it has been granted an extension to the date by which Capital & Counties Properties PLC must state a firm intention to make an offer for it or walk away.

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Cizzle Biotechnology Holdings 2021 Net Loss Widened

Cizzle Biotechnology Holdings PLC said Monday that net loss for 2021 widened given the company's business development stage.

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S4 Capital 1Q Revenue, Profit Rose Ahead of Guidance on Broad-Based Growth

S4 Capital PLC said Monday that it grew strongly in the first quarter ahead of market guidance, with growth in all regions in which it operates.

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Serabi Gold Sees Rise in Revenue, Ebitda for 2021 After Increased Production

Serabi Gold PLC said Monday that it expects to report an increase in revenue and Ebitda for 2021, in line with consensus forecasts, after an increase in gold production.

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Comptoir Group Swung to a Pretax Profit in 2021

Comptoir Group PLC on Monday reported a swing to a pretax profit for 2021, and said that it is confident about its current sales levels when compared with 2019 despite rising costs.

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Smiths News' Bad Debt Risk From McColl's Administration Falls to GBP3.4M-GBP4.5M

Smiths News PLC said Monday that it expects the company's bad debt risk from McColl's Retail Group PLC's administration to fall to between 3.4 million and 4.5 million pounds ($4.3 million and $5.7 million).

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Speedy Hire FY 2022 Pretax Profit Rose; Confident to Achieve FY 2023 Views

Speedy Hire PLC said Monday that pretax profit for fiscal 2022 rose, driven by increased market activity, and that it is confident in achieving the board's expectations for fiscal 2023.

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Mediazest Shares Rise After Saying 1H Performance Benefited From On-Year Growth

Shares in Mediazest PLC rose on Monday after the company said that it achieved profitability in the first half of fiscal 2022, and added that current performance remains positive across its retail, automotive and corporate sectors.

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Caspian Sunrise Unaffected by UK's Windfall Tax

Caspian Sunrise PLC said Monday that the U.K.'s new windfall tax on oil companies doesn't apply to its operations.

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CareTech Gets Extension for Sheikh Consortium, DBAY Bid Deadlines

CareTech Holdings PLC said Monday that the U.K. Takeover Panel has extended the bid deadlines for both the Sheikh Holdings Group (Investments) Ltd. consortium and DBAY Advisors Ltd.

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Catenae Innovation Says Financial Position Remains Unchanged Amid Trading Suspension

Catenae Innovation PLC said Monday that it has no material change in its financial position since its last update, as the company's shares are currently suspended from trading.

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Nuformix Shares Drop After NXP002 Trial Results Were Inconsistent, Failure to Identify New Chief

Shares in Nuformix PLC dropped on Monday after it said that results from a final preclinical study of its NXP002 treatment for idiopathic pulmonary fibrosis were inconsistent with the first in-vivo study, and that it has therefore decided to advance further studies including the evaluation of a new formulation.

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Cellular Goods Shares Drop After 1H Pretax Loss Widened on Operating Expenses, Product Development

Shares in Cellular Goods PLC dropped on Monday after it said that pretax loss for the first half of fiscal 2022 widened because of operating expenses, product development and launch costs.

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I-Nexus Global Sees FY 2022 Revenue Below Previous Year, Shares Fall

I-Nexus Global PLC shares fell on Monday after the company said revenue for fiscal 2022 is expected to be below 2021's levels due to a reduction in new monthly recurring revenue the previous year.

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Taylor Maritime Fixes Longer-Term Charters for Five Ships

Taylor Maritime Investments Ltd. said Monday that it has secured long-term charters for five ships, enhancing its earnings visibility and cash yields.

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Microsaic Systems 2021 Pretax Loss Widened; Confident in 2022 Revenue Prospects

Microsaic Systems PLC said Monday that its pretax loss for 2021 widened on higher costs, but it is confident in its 2022 revenue expectations.

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Quilter Appoints New Chairman

Quilter PLC said Monday that it has appointed Glyn Barker as chairman effective Sept. 7.

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Oxford Metrics Shares Rise as It Sells Yotta Division for GBP52 Mln

Shares in Oxford Metrics PLC rose on Monday after the company said that it has sold its infrastructure-asset-management division Yotta to Causeway Technologies Ltd. for a cash consideration of 52 million pounds ($65.7 million)

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Ascent Resources Shares Rise on Slovenia Claim Agreement

Shares in Ascent Resources PLC traded up 14% on Monday after the company said that it has entered a damages-based agreement with Enyo Law LLP to pursue its claim against the Republic of Slovenia.

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Coral Products Buys Alma Products for GBP1.5 Mln in Cash

Coral Products PLC said Monday that it has acquired Alma Products Ltd. for a net consideration of 1.5 million pounds ($1.9 million), to be paid in cash.

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Foxtons CEO Steps Down; Guy Gittins Appointed as Successor

Foxtons Group PLC said Monday that Chief Executive Officer Nic Budden has stepped down, and that Guy Gittins has been appointed as his successor effective Sept. 5.

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Alien to Acquire 100% of Vivash Gorge Iron Project, Australia

Alien Metals Ltd. said Monday that it has agreed to acquire 100% of the Vivash Gorge iron ore project in Western Australia from Zenith Minerals Ltd.

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Pure Gold Mining Raises C$34.2 Mln After Placing, Debt for Securities Sale

Pure Gold Mining Inc. said Monday that it has raised a total of 34.2 million Canadian dollars ($26.9 million) following the closing of the second and final tranche of its nonbrokered private placement and a securities for debt transaction.

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Glantus Holdings Pretax Loss Widened in 2021 on IPO-Related Costs

Glantus Holdings PLC on Monday reported a widened pretax loss for 2021 due to one-off costs related to its initial public offering on London's junior AIM market. 


 
Market Talk:

S4 Capital's 1Q Seen as Encouraging

0819 GMT - S4 Capital's first-quarter trading update is encouraging and the outlook is fairly strong, Citi analysts say in a research note. The London-listed digital advertising and marketing-services company's outlook is promising on formal financial guidance of 25% organic growth with steady improvement in margin and in terms of the broader macro commentary, the analysts say. "With valuation still depressed relative to recent history and, considering the underlying growth profile, to selected peers across marketing/IT services, we think results should be taken well," they say. Citi has a buy/high risk rating on the stock with a price target of 700 pence. Shares trade up 1.6% at 290.00 pence. (kyle.morris@dowjones.com)

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S4 Capital Seen Benefiting From Postpandemic Structural Trends

0817 GMT - S4 Capital posted guidance-beating like-for-like profit growth of around 35% and the company is seen with structural growth tailwinds, Jefferies analysts say in a research note. The London-listed digital advertising and marketing-services company is benefiting from structurally growing digital and tech advertising spend--the highest growth area in global advertising, the analysts say. S4's disruptive model and unitary structure enable client conversion, capitalizing on these trends, and digital marketing and data consultancy are more relevant now than ever as Covid-19 has accelerated the digital transformation, they add. Jefferies has a buy rating on the stock with a 570 pence price target. Shares trade up 1.5% at 289.60 pence. (kyle.morris@dowjones.com)

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Oil at Two-Month High on Demand Prospects

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05-30-22 1209ET