Tue. Oct 26th, 2021


Computer Center PLC Update

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Computer Center analysts encouraged to increase forecasts with its second positive trade update of the summer.

The group of IT services, led by Mike Norris, directed the adjusted pre-tax profit of 2021 10 percent ahead of current market expectations. Half of the analysts covering Computacenter left estimates unchanged after an update in July, which called for the new guidance, the company said.

“Although the visibility in our business is never perfect, given the momentum in the business, a significant order backlog, the successful acquisitions and a strong forecast, we will try to achieve last year’s performance in the second half, no. just not with that, “says Computacenter.

Briefly

GlaxoSmithKline and SK Bioscience of South Korea said they were embarking on a late-stage clinical trial of SK’s Covid vaccine candidate in combination with GSK’s experimental booster shot. GSK said it intends to complete the trial in the first half of 2022.

Bunzl left the 2021 targets unchanged after posting an improvement in the half-year profit of 14.7 percent. The FTSE 100 listed product distribution group delivered an adjusted operating profit of £ 366.8 million on an increase of 6.3% to £ 4.9 billion. Despite a strong recovery, core trade remains below 2019 levels, while the higher margin associated with Covid business is still increasing, Bunzl said. The company also noticed supply chain problems and product shortages.

Oil services group Lamprell said it is evaluating alternative ways to monetize existing assets and investments to reduce the size of an equity issue related to debt refinancing talks. Lamprell expects to raise a minimum of $ 30 million through equity in the fourth quarter.

House Ride, a developer of housing for the homeless, has estimated plans to raise £ 262 million with a share offering to finance its development pipeline. The price of the new shares is 109 apiece, a 4.4 percent discount from Friday’s closing price.

Across the Square Mile

The Central Bank of Hong Kong and the top financial regulator develop a system to detect dangerously concentrated exposure to equities as part of efforts to prevent an Archegos Capital-style blast, people familiar with the matter told the FT. Launched after the Bill Hwang Family Office debacle, the project will use centralized trading databases to take exorbitant risks by banks and investment funds that trade derivatives in Hong Kong markets.

Asset Managers fears that excessive claims on sustainability-oriented investments are possible becomes a resale scandal across the industry after regulators on both sides of the Atlantic sharpened their focus on environmental, social and managerial investment at Germany’s DWS. Investigations by regulators in Germany and the US, prompted by allegations by the former head of sustainability at DWS, have put the so-called greenwash hub for the European investment industry.

Important comments before you go

George Soros
Xi Jinping het clashes with economic reality. The Chinese leader’s oppression of private enterprises shows that he does not understand the market economy.

Sarah O’Connor
A universal basic income would shape the labor market in ways that are difficult to predict. History shows that improving the future of employment requires more than eliminating employers.

Lex
At first glance, Barclays pushes US credit card company looks like a sharp step. Card use jumped through the pandemic. But debt is falling and card issuers are stepping up their fight to offer new customers through more rewards and looser lending standards. As a relatively small player in the US market, the battle for new business will be difficult.

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