(Bloomberg) — Here’s the key business news from London-listed companies this morning:
BP Plc: Higher oil and gas prices delivered a big increase to the company’s fourth-quarter profit, meaning they’ll buy back a further $1.5 billion in shares, following big-oil peers including Shell Plc.
SSE Plc: The electricity provider boosted its full-year outlook as higher power prices made up for a shortfall in output from its renewables division.
- SSE now expects full-year adjusted earnings per share of at least 90 pence, from at least 83 pence previously
Ocado Group Plc: Growth in orders for the company’s joint venture with Marks and Spencer, although positive, were impacted by labor market constraints in the second half of the year, which in turn hit the unit’s margins.
- Ocado says there’s “strong underlying demand for online grocery in the U.K.,” despite the average basket size falling by nearly 6 percent
Outside The City
Labour Leader Keir Starmer was chased by a group of protesters accusing him of “protecting pedophiles” yesterday, putting the Prime Minister under pressure to retract his claim Starmer was responsible for not prosecuting serial child-sex abuser Jimmy Savile.
The Nord Stream 2 natural gas pipeline between Russia and Germany would be stopped if President Vladimir Putin orders an invasion of Ukraine, U.S. President Joe Biden said last night. Moscow has repeatedly denied it plans to attack Ukraine, but Western countries say Russia has built up a military presence close to the border.
In Case You Missed It
Watch Vodafone Plc this morning after Coast Capital revealed to Bloomberg News it has built a stake in the telecoms company, the second activist investor that’s emerged in recent weeks. Seperately, people with knowledge of the matter said Iliad SA made an offer to buy for Vodafone’s Italian unit last week.
SoftBank Group Corp. plans to list British chip designer Arm Ltd, after Nvidia Corp.’s deal to buy the unit faced fierce opposition from regulators and customers.
Looking Ahead
Pharma-giant GlaxoSmithKline Plc reports its full-year results tomorrow, amid a tricky separation of its consumer business and a reckoning with activist shareholder Elliott Investment Management.
Later today, Clinigen Group Plc’s shareholders will vote on a revised takeover bid from Triton Investment Management Ltd. Elliott also has a nearly 15 percent stake in Clinigen, which could be decisive in the vote.
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