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UK pre-market stocks update – BT, AstraZeneca, Darktrace, WPP, Taylor Wimpey

Stock Markets3 hours ago (Dec 06, 2021 07:36)

© Reuters.

By Samuel Indyk – At 07:33GMT, FTSE 100 futures are trading higher by 0.6% at 7171.

In FX markets, GBP/USD is trading at 1.3231, EUR/GBP is trading at 0.8529. The US Dollar Index is up 0.2%.

Today’s calendar highlights include UK Construction PMI, German Construction PMI and a speech from BoE member Ben Broadbent.  


London Stock Exchange Group (LON:LSEG) – To acquire Qunatile Group Limited for a maximum aggregate consideration of up to £274 million.

Darktrace (LON:DARK) – To commence a share buyback programme of up to 4 million ordinary shares. The maximum amount allocated to the Programme is £30 million.

BT (LON:BT) – Discovery is reportedly in talks to create a joint venture with BT Sport in a move that would hijack the sale to sports streaming service DAZN. (FT)

AstraZeneca (LON:AZN) (NASDAQ:AZN) – Has reportedly been studying options including a potential listing of its newly-created vaccine division as it seeks to boost returns. (Bloomberg)

WPP (LON:WPP) – Acquired a majority stake in branding and design agency Made Thought.

Taylor Wimpey (LON:TW) – Activist investor Elliott Advisors has reportedly built a “small” stake in the company. (Times)

Clarkson (LON:CKN) – Results for year ending 31st December 2021 are anticipated to be ahead of current market expectations with underlying profit before tax now expected to be not less than £65 million.

Thungela Resources (LON:TGAT) – Export saleable production for FY2021 is expected to be 14.9 Mt, subject to no further deterioration in Transnet Freight Rail performance or more stringent COVID-19 restrictions in December. Export equity sales for FY2021 are expected to be 13.7 Mt. The Board remains committed to delivering attractive shareholder returns, while maintaining disciplined capital allocation. Accordingly, the Company may declare additional returns above the targeted minimum pay-out ratio of 30% of Adjusted operating free cash flow. Likely to return to profitability in respect of Earnings per share and Headline earnings per share for the 2021 financial year, following a loss in the 2020 financial year.

3I Infrastructure (LON:3IN) – Agreed to invest circa £191 million to acquire a 92% stake in SRL Traffic Systems, the market leading traffic management equipment rental company in the UK.

ContourGlobal (LON:GLO) – Now expects FY 2021 adjusted EBITDA to be $810-840 million, up to $30 million above the guidance range communicated on 25 October 2021 of $780-$810 million.

Victrex (LON:VCTX) – FY volumes up 25% to 4,373 tonnes. Group revenue up 15% to £306.3 million, underlying profit before tax up 21% to £91.7 million. Increased dividend to 109.56 pence per share. Assume year on year progress in full year sales volumes in 2022. Also facing sizeable currency headwind and increased raw material and energy costs.

Hammerson (LON:HMSO) – To commence a share repurchase programme of up to 7,691,247 shares.

Marshall Motor Holdings (LON:MMHM) – Recommends shareholders accept 400 pence per share offer from Constellation.

A.G.Barr PLC (LON:BAG) – Has bought an initial circa 60% equity stake in MOMA Foods Limited with an agreed path to full ownership over the next 3 years. The transaction is not expected to have a material impact on the Group’s profits for the current financial year ending 30 January 2022.

Ted Baker (LON:TED) – Chairman John Barton has died. Helena Feltham will assume the role of Interim Chairman with immediate effect.


Housing Names – The Bank of England is said to be poised to loosen mortgage lending rules that were bought in during the pandemic.

Travel & Leisure – The UK government introduced pre-departure COVID testing for passengers arriving in England.

UK pre-market stocks update – BT, AstraZeneca, Darktrace, WPP, Taylor Wimpey

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