stockmarket

UK pre-market stocks update – Glencore, easyJet, AstraZeneca, Wetherspoon




By Samuel Indyk

Investing.com – At 07:39GMT, are trading lower by 1.2% at 7,028.

In FX markets, is trading at 1.3317, is trading at 0.8499. The is down 0.3%.

Today’s calendar highlights include German Unemployment, Eurozone CPI, Canadian GDP, US House Price Index, Chicago PMI, Fed Chair Powell testifies.

Stocks

EasyJet (LON:) – FY headline loss before tax of £1.036 billion, ahead of consensus estimates. Summer ’22 – Current FY’22 H2 revenue booked is ahead of FY’19 level. Too soon to say what impact Omicron may have on European travel and any further short-term restrictions that may result. Q1 Capacity expected to be c.65% of FY’19. Expect to fly circa 70% of 2019 capacity in Q2 and expect that Q4 summer capacity will be at near 2019 levels.

Glencore (LON:) – Activist hedge fund Bluebell Capital Partners has asked Glencore to separate its thermal coal business because it has become a barrier to investment.

AstraZeneca (LON:) – Company’s supplemental New Drug Application for Lynparza has been accepted and granted Priority Review by the US FDA for the adjuvant treatment of patients with BRCA-mutated HER2-negative high-risk early breast cancer.

Shaftesbury (LON:) – Sustained recovery in footfall; weekends currently back to 2019 levels and weekdays at circa 80%. Leasing transactions with a rental value of £33.9 million completed during the year. Momentum continued with £5.4 million of lettings and renewals in the two months since 30 September 2021. Net property income down 12.9% to £64.7 million. Wholly-owned portfolio valuation: £3.0 billion; full year like-for-like decrease 5.4%.

WPP (LON:) – Acquired technology company Cloud Commerce Group; financial terms not disclosed.

Future PLC (LON:) – FY revenue up 79% to £606.8 million. FY adjusted operating profit up 110% to £195.8 million. The proposed dividend for the year is 2.8p per share, +75% year-on-year. Upgrading outlook for the full year and now expect adjusted results in FY 2022 to be materially above current expectations.

888 Holdings (LON:) – All mandatory antitrust and gaming regulatory clearances received for takeover of William Hill International. Completion is now expected to occur in Q1 2022, subject to satisfaction of remaining conditions to completion. New equity to be issued via capital raise expected to occur prior to completion of the acquisition.

Micro Focus (LON:) – To set out plan to exit FY23 with a flat or better year-on-year revenue trajectory. Also to provide an update on progress made in transformation to date.

Diversified Energy Company (LON:) – Engaged Bridger Photonics, a leading provider of methane leak detection technology, to perform multi-year aerial scans of the Company’s production and distribution assets starting with the Appalachian region.

Countryside Properties (LON:) – FY completions up 33% to 5,385. Adjusted revenue up 54% to £1.526 billion. Adjusted operating profit up 209% to £167.3 million. Countryside is 48% forward sold for 2022 including £426 million from private sales (as at 30 September 2021) with a private net reservation rate in the nine weeks to 28 November 2021 at 0.94. Expect to deliver adjusted operating profit in the range of £200-£210 million in the year to 30 September 2022, including a c.£40 million contribution from legacy housebuilding operations.

DiscoverIE Group PLC (LON:) – H1 revenue up 21% to £174.3 million. Underlying operating profit up 32% to £18.0 million. Interim dividend increased 6% to 3.35 pence per share. On track to deliver full year underlying earnings for the continuing operations ahead of the Board’s previous expectations despite ongoing supply chain and foreign exchange headwinds.

Hochschild Mining (LON:) – To acquire Amarillo Gold Corporation for at a price of C$0.40 per share in cash.

J D Wetherspoon PLC (LON:) – Chairman Tim Martin has again criticised shareholder Fidelity for voting against two of the company’s non-executive directors.

Greencore (LON:) – FY group revenue up 4.8% to £1.325 billion. Adjusted Operating Profit up 20.0% to £39.0 million. Continued positive revenue momentum across the business at the start of FY22. Expects to generate an FY22 outturn in line with current market expectations.

Tritax EuroBox (LON:) – Acquired a €49.65 million asset in Piacenza, Northern Italy, part of a major logistics hub.

Marston’s (LON:) – Like-for-like sales since restrictions lifted in July 102% of 2019. Current trading encouraging – total LFL sales 1.3% versus 2019 despite reduction in VAT relief.

John Menzies (LON:) – Expects trading for the full year to be at least in line with market expectations after stronger than expected trading in recent months. Currently forecast 2022 flight volumes to be at around 80% of 2019 volumes.

Topps Tiles (LON:) – FY group revenue up 18.3% to £228.0 million. Total dividend of 3.1 pence per share. Two-year Retail like-for-like sales growth of 18.4% in first eight weeks of new financial year. Continued trading headwinds from reduced consumer confidence, global supply chain challenges and cost inflation.



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