UK market update – Sage Group boosts buyback, Petrofac gets new Libyan contract

At 08:37BST, the FTSE 100 is trading higher by 0.2% at 7,164. The midcap FTSE 250 is trading lower by 0.1% at 24,226.

In FX markets, GBP/USD is trading at 1.3832, EUR/GBP is trading at 0.8586. The US Dollar Index is flat.

Today’s calendar highlights include US Nonfarm Payrolls and other labour market metrics such as the unemployment rate, average hourly earnings and participation rate. Services and composite PMIs are released in the Eurozone, UK and US, while the US ISM Non-Manufacturing PMI will also be released.

Stocks
Ashmore (LON:ASHM) – FY Assets under management increased 13% to $94.4 billion. Profit before tax increased 28% to £282.5 million. Proposed final dividend per share of 12.1 pence.

Weir Group (LON:WEIR) – Announces appointment of Barbara Jeremiah as Chair-Designate, with immediate effect. Jeremiah will succeed Charles Berry who has completed his full nine-year term.

Berkeley Group (LON:BKGH) – Underlying reservations at this stage of the financial year in line with those achieved in two years prior to the pandemic. Remains on track to meet its profit guidance and deliver a pre-tax profit for the year at or above the £518 million reported for the year ended 30 April 2021.

Sage Group (LON:SGE) – To commence a further share buyback programme of up to £300 million, following completion of the previously announced £300 million programme.

AstraZeneca PLC (LON:AZN) (NASDAQ:AZN) – Ultomiris approved in the EU for children and adolescents with paroxysmal nocturnal haemoglobinuria.

Vistry Group (LON:VTYV) – Announced a commitment to carbon emission targets consistent with reductions required to keep warming to 1.5°C. Meaningful and measurable sustainability criteria will be incorporated into executive remuneration from 2022.

Petrofac (LON:PFC) – Secured a contract valued at over $100 million with Zallaf Libya Oil & Gas Exploration and Production Company, to deliver their Erawin Field Development Project Phase 1 Early Production Facilities.

Sanne Group PLC (LON:SNNS) – Cinven confirms that it does not intend to make an offer for Sanne.