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UPDATE 2-Meggitt, real estate stocks lead FTSE 250 higher; Equiniti shines

Thu, 27th May 2021 09:26

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* Equiniti jumps after $949 mln take-private deal

* Johnson Matthey falls on hit to short-term cash flow

* FTSE 100 down 0.1%, FTSE 250 adds 0.1%
(Updates with market close)

By Shivani Kumaresan and Devik Jain

May 27 (Reuters) - British midcaps edged higher on Thursday,
outperforming the blue-chip index for a third straight session
led by gains in Meggitt and real estate stocks, while Equiniti
Group jumped after agreeing to a take-private deal.

The domestically focused FTSE 250 index rose 0.1%,
with aero and defence stocks adding 1.7%. Meggitt
gained 3.1% after UBS upgraded the stock to "neutral"
from "sell".

The FTSE 100 traded flat, with base metal miners
adding 2.9% and offsetting losses in oil majors
BP and Royal Dutch Shell.

The Bank of England could raise interest rates as soon as
the first half of next year if the job market bounces back
faster than expected, but it is more likely to wait until later
in 2022, BoE policymaker Gertjan Vlieghe said.

“There is a relative dearth of economic data which could
push markets in any particular direction in the coming days,
although a second estimate of first quarter US GDP later on
Thursday could renew focus on inflationary pressures,
particularly if the already elevated number is revised upwards,"
said Russ Mould, investment director at AJ Bell.

The FTSE 100 index has gained 8.8% year-to-date on optimism
that speedy vaccine rollouts and constant policy support from
the government would drive a stronger recovery from a
pandemic-led recession.

Among other stocks, Equiniti Group jumped 6.5% after
the British administration services and payments specialist
agreed to be taken over by a new company backed by
private-equity firm Siris Capital in a 673 million pound ($949
million) deal.

Johnson Matthey slipped 3.6% after the chemicals
maker warned that rising metal prices could hit its cash flow.

Insurer Aviva rose 3.2% after it recorded steady
sales performance in its life insurance business and a 4% rise
in general insurance, and repeated its promise to give cash back
to shareholders.
(Reporting by Shivani Kumaresan and Devik Jain in Bengaluru;
Editing by Subhranshu Sahu and Jane Merriman)

More News
28 Oct 2021 07:22

UPDATE 6-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds investor comments, shar...

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28 Oct 2021 07:22

UPDATE 7-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* New climate target is absolute, not intensity-based (Adds comments from top shareholder, updates price, adds graphic)By Shadia Nasralla...

Read more
28 Oct 2021 07:22

UPDATE 5-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds analyst, investor view ...

Read more
28 Oct 2021 07:22

UPDATE 4-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Releads with Shell comments ...

Read more
28 Oct 2021 07:22

UPDATE 3-Shell toughens climate targets as Q3 profit misses forecasts

* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds detail on cashflow and debt in quarter)By Shadia NasrallaLONDON, Oct 28 (Reuter...

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28 Oct 2021 07:22

UPDATE 2-Shell sets tougher climate targets, Q3 profit below expectations

* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds graphic, detail on earnings, production volumes, outlook)By Shadia NasrallaLOND...

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28 Oct 2021 07:22

UPDATE 1-Shell's third-quarter profit falls, hones climate targets

(Adds detail)LONDON, Oct 28 (Reuters) - Royal Dutch Shell set a new target for its direct operational greenhouse gas emissions on Thursday, reporting third-quarter profit down 25% to $4.13 billion from the previous quarter, below expectations.Shel...

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28 Oct 2021 07:05

Shell's third-quarter profit falls to $4.1 bln, below expectations

LONDON, Oct 28 (Reuters) - Royal Dutch Shell's third-quarter adjusted earnings fell 25% to $4.13 billion from the previous quarter, it said on Thursday, below an average analyst forecast provided by the company for a $5.31 billion profit.That com...

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28 Oct 2021 07:03

Shell Q2 profits hit by Hurricane Ida, sets new climate target

(Sharecast News) - Royal Dutch Shell reported lower-than-expected third-quarter adjusted earnings despite higher fuel prices as it took a $400m hit from Hurricane Ida on operations and said it was setting new targets for carbon emission cuts.

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27 Oct 2021 20:46

UPDATE: Shell notes talks with Third Point as activist calls for split

UPDATE: Shell notes talks with Third Point as activist calls for split

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27 Oct 2021 20:20

PRESS: Third Point builds massive Shell stake, pushes for split

PRESS: Third Point builds massive Shell stake, pushes for split

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27 Oct 2021 18:26

North Sea Crude-Brent diffs fall, Equinor bids for Gullfaks

LONDON, Oct 27 (Reuters) - North Sea Brent crude differentials fell to a three-week low on Wednesday on the back of Gunvor selling a cheaper cargo to Mercuria, while the trading window also saw an extremely rare appearance of the Norwegian Gullfa...

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27 Oct 2021 16:57

LONDON MARKET CLOSE: FTSE 100 dips but budget buoys homebuilders, pubs

LONDON MARKET CLOSE: FTSE 100 dips but budget buoys homebuilders, pubs

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27 Oct 2021 16:57

UPDATE 4-Hedge fund Third Point buys stake in Shell, urges breakup

(New throughout, adds details from letter, Third Point history, activism in oil industry)By Arathy S Nair and Svea Herbst-BaylissOct 27 (Reuters) - Hedge fund Third Point has built a large stake in Royal Dutch Shell and called on the oil major to ...

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27 Oct 2021 16:57

UPDATE 3-Third Point builds $750 mln stake in Shell, urges breakup

(Releads with source comment, letter from Third Point)By Arathy S NairOct 27 (Reuters) - Activist investor Daniel Loeb's Third Point has built a near $750 million stake in Royal Dutch Shell , a source close to the matter told Reuters on Wednesday,...

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