UK pre-market stocks update – Shell, BT, Serco, Cineworld, Wizz Air, Vistry

At 07:31GMT, FTSE 100 futures are trading lower by 0.1% at 7324.

In FX markets, GBP/USD is trading at 1.3427, EUR/GBP is trading at 0.8533. The US Dollar Index is down 0.1%.

Today’s calendar highlights include Eurozone Trade Balance, NY Empire State Manufacturing, Canadian Manufacturing Sales.

Data
Asking prices for houses in the UK fell 0.6% MoM this month, according to Rightmove.

Stocks
Royal Dutch Shell (LON:RDSa) – Seeking shareholder approval at General Meeting to change articles to implement a simplified structure. Proposal will establish a single line of shares to eliminate the complexity of Shell’s A/B share structure. Proposal will also align Shell’s tax residence with its country of incorporation in the UK.

BT (LON:BT) – Altice founder Patrick Drahi is reportedly looking to increase his stake in BT. Drahi currently holds a 12.1% stake in BT. The sources said that any stake-building plan was likely to involve Deutsche Telekom (DE:DTEGn), which also owns a stake of around 12.06%.

Serco (LON:SRP) – Now expect 2021 revenue to be around £4.4 billion, from £4.3 billion previously. Underlying profit expected to be no less than £225 million, previous guidance was around £200 million. Do not expect 2022 guidance for revenue and trading profit to be materially different from analysts’ consensus.

Cineworld (LON:CINE) – October group revenue was 90% of 2019 levels, up from 60% in September. As a result of this improvement in revenue and the cost measures implemented, the Group generated positive cash flow in October

Vistry (LON:VTYV) – Ian Tyler to step down as Chairman. Ralph Findlay to appointed Chairman with effect from the conclusion of the annual meeting on 18th May 2022.

Wizz Air (LON:WIZZ) – Signed agreement with Airbus for the purchase of a further 102 Airbus A321 aircraft, comprising 75 Airbus A321neo and 27 Airbus A321XLR aircraft, with the bulk to be delivered between 2025 and 2027. Wizz Air may acquire a further 19 A321neo aircraft. Airbus has also granted Wizz Air 75 A321neo purchase rights for deliveries in 2028-29, to be converted into a firm order by the end of 2022.

CMC Markets (LON:CMCX) – In very early stages of evaluating the merits of a managed separation of the leveraged and non-leveraged divisions of the Group in order to unlock shareholder value. The Board is expected to start its review before year end and complete it by June 2022 and will update the market in due course.

Tritax EuroBox (LON:EBOX) – Agreed to acquire land and fund the development of an €117.9 million assist in the Rhine-Ruhr region in Germany. The development is expected to be completed in February 2023.

S4 Capital (LON:SFOR) – Mary Basterfield will take over from Peter Rademaker as Chief Financial Officer of S4Capital plc from 3 January 2022 and join the S4Capital Board. Separately, Miyagi is merging with Media.Monks to form S4Capital’s Content practice in Italy.

LondonMetric Property (LON:LMPL) – Acquired two logistics warehouses for £135.6 million in separate transactions.

Kin and Carta (LON:KCT) – Successfully completed divestments of its two remaining venture businesses, Edit Agency and Relish Agency for a total of £18.6 million in cash.

Kainos (LON:KNOS) – H1 revenue up 33% to £142.3 million. Adjusted pre-tax profit up 12% to £29.2 million. Boosts interim dividend by 11% to 7.1 pence per share. Confident in outlook for the current financial year and future periods.

Cairn Energy (LON:CNE) – To commence £20 million share buyback programme. This programme is being initiated prior to the anticipated larger buyback programme to commence following receipt of the Indian tax refund.

IMI (LON:IMI) – Announces the proposed acquisition of Adaptas Solutions for an enterprise value of $271 million.

Airtel Africa (LON:AAF) – Company subsidiary, Airtel Mobile Commerce Nigeria, has been granted approval in principle by the Central Bank of Nigeria to operate as a super agent in Nigeria.

Ascential (LON:ASCL) – Has acquired WhyteSpyder LLC, an eCommerce software and digital merchandising business which helps brands succeed on Walmart (NYSE:WMT)’s digital marketplace; terms not disclosed. Separately, Money 20/20 USA achieved over 95% of the revenue of the 2019 edition.

Primary Health Properties (LON:PHP) – Acquired Bersted Green Surgery in West Sussex for £5.34 million.