the times | Wednesday November 10 2021 43
MarketsBusiness
Exchange rates
Bid Change
Australia $ 1.838 +0.01
Canada $ 1.688
Denmark Kr 8.701
Euro ¤ 1.170
Hong Kong $ 10.557 -0.01
Hungary 421.311 -0.87
Indonesia 19300.611 -36.05
Israel Shk 4.214 -0.01
Japan Yen 153.043 -0.48
New Zealand $ 1.902 +0.01
Norway Kr 11.551 +0.01
Poland 5.374
Russia 95.863 -0.74
S Africa Rd 20.375 +0.10
Sweden Kr 11.619
Switzerland Fr 1.237
Turkey Lira 13.183 +0.02
USA $ 1.355
Rates supplied by MorningstarDollar rates
Australia 1.3554-1.3561
Canada 1.2441-1.2443
Denmark 6.4164-6.4174
Euro 0.8625-0.8627
Hong Kong 7.7899-7.7902
Japan 112.85-112.86
Malaysia 4.1470-4.1520
Norway 8.5154-8.5204
Singapore 1.3474-1.3476
Sweden 8.5642-8.5672
Switzerland 0.9113-0.9116Other Sterling
Argentina peso 135.78-135.79
Australia dollar 1.8391-1.8393
Bahrain dinar 0.5078-0.5148
Brazil real 7.4456-7.4503
Euro 1.1702-1.1703
Hong Kong dollar 10.566-10.567
India rupee 100.53-100.54
Indonesia rupiah 19354-19354
Kuwait dinar KD 0.4079-0.4102
Malaysia ringgit 5.6209-5.6277
New Zealand dollar 1.9033-1.9037
Singapore dollar 1.8275-1.8279
S Africa rand 20.418-20.431
U A E dirham 4.9798-4.9825Money rates %
Base Rates Clearing Banks 0.10 ECB Refi -0.50 US Fed Fd 0.00-0.25Halifax Mortgage Rate 3.74Treasury Bills (Dis) Buy: 1 mth 0.009; 3 mth 0.009. Sell: 1 mth 0.000; 3 mth 0.0001 mth 2 mth 3 mth 6 mth 12 mth
Interbank Rates 0.0514 0.0874 0.1089 0.2793 0.5781
Eurodollar Deps 0.05-0.25 0.06-0.26 0.07-0.27 0.11-0.31 0.20-0.40Mkt Rates for Range Close 1 month 3 month
Copenhagen 8.6873-8.7276 8.7034-8.7047 52ds 185ds
Euro 1.1736-1.1682 1.1705-1.1701 5pr 18pr
Montreal 1.6859-1.6911 1.6875-1.6877 1pr 4pr
New York 1.3456-1.3604 1.3564-1.3565 1pr 4pr
Oslo 11.500-11.556 11.547-11.561 28pr 173pr
Stockholm 11.575-11.641 11.617-11.621 22ds 130ds
Tokyo 152.77-153.62 153.07-153.10 2ds 14ds
Zurich 1.2351-1.2425 1.2359-1.2364 9ds 32ds
Premium = pr Discount = dsSterling spot and forward rates
London Grain Futures
LIFFE Wheat (close £/t)
Nov 214.00 Jan 206.00 Mar 197.00
May 220.60 Jul unq Volume: 827
London Metal Exchange
(Official)
Cash 3mth Dec 22
Copper Gde A ($/tonne)
9998.0-10002.0 9655.0-9660.0 9480.0-9490.0
Lead ($/tonne)
2398.0-2399.0 2370.0-2372.0 2308.0-2313.0
Zinc Spec Hi Gde ($/tonne)
3337.5-3338.0 3291.0-3293.0 3152.0-3157.0
Alum Hi Gde ($/tonne)
2581.0-2582.0 2600.0-2601.0 2578.0-2583.0
Nickel ($/tonne)
19710.0-19720.0 19625.0-19635.0 19300.0-19350.0
Tin ($/tonne) 15mth
38550.0-38600.0 37400.0-37450.0 33955.0-34005.0
Gold/Precious
metals (US dollars per ounce)European money
deposits %
Currency
1mth 3mth 6mth 12mth
Dollar
0.13 0.20 0.29 0.55
Sterling
0.05 0.11 0.28 0.58
Euro
0.10 0.15 0.20 0.50Bullion: Open $1824.35
Close $1828.80-1829.25 High $1830.02
Low $1819.28
AM $1818.00 PM $1822.35
Krugerrand $1710.00-2907.00 (£1260.64-
2143.09)
Platinum $1064.00 (£784.40)
Silver $24.23 (£17.86)
Palladium $2041.00 (£1504.66)Data as shown is
for information
purposes only. No offer is made by
Morningstar or this publicationA
business
that
boomed
amid a
surge in
demand for DIY facial
gadgets during the
pandemic has sold a
majority stake for
£50 million to a new
ecommerce-focused
venture capital firm
(Ashley Armstrong
writes).
CurrentBody was
launched in 2009 by
Laurence Newman and
Andrew Showman to
develop products that
mimic beauty
treatments offered by
salons. Its devices
include handheld
lasers, LED masks and
exfoliating brushes.
The retailer now has
17 websites worldwide,
a joint venture in
China and a
concession in House of
Fraser’s store in
London. This year it is
on track for sales of
£42.5 million, forecast
to reach £100 million
within the next two
years as morePeel Hunt, the broker, said that the
owner and operator of German
business parks was a “must-own” real
estate stock, adding that its
acquisition of BizSpace gave it a
“complementary growth lever to pull”.
The shares rose 6¼p, or 4.7 per cent,
to 138¾p.
All eyes were on Marks & Spencer
as the high street stalwart readied to
unveil its earnings today. There was a
welcome boost from Citi, which
raised its target price on the stock
from 155p to 210p, pushing it up 4¼p,
or 2.2 per cent, to 194½p.
Oxford Instruments disappointed
after the mid-cap maker of high-
technology tools said that supply
chain issues had affected the
conversion of orders into revenue.
The shares fell 95p, or 4 per cent, to
£23.05.
Among smaller companies,
Induction Health rose 3½p, or 7.3 per
cent, to 51½p after the healthcare
software company bagged a new
contract.CURRENTBODYBroker says ‘buy’ but DCC
investors press ‘sell’ button
Jessica Newman Market report
T
here was scant reward for
DCC and its followers as
shares in the Irish company
endured their worst day in a
year despite a decent set of
half-year results. Revenues being up
26.8 per cent to £7.5 billion from
£5.9 billion previously obviously were
not enough to impress a market that,
when it chooses, can be very difficult
to please.
The Dublin-based sales and
marketing group operates four
divisions — technology, healthcare,
retail and oil and liquefied petroleum
gas — and it was the last of these that
got investors hot under the collar.
LPG, its largest profit contributor,
reported a smaller operating profit
per tonne of £52.7 million, compared
with £62.7 million last year, despitehigher volumes and higher product
costs. It was enough for some to ditch
the shares, which closed down 244p,
or 3.9 per cent, at £60.42.
Some, but not all. Analysts at Peel
Hunt were not put off and reiterated
their “buy” recommendation on the
stock, expressing confidence that the
group’s strong and liquid balance
sheet left it “very well placed” to
continue its growth and development.
The FTSE 100 lost gains that it had
notched up during the morning after
Wall Street made a slow start. The
index shed 26.36 points, or 0.4 per
cent, to 7,274,04 while the FTSE 250
declined by 172.78 points, or 0.7 per
cent, to 23,367.14.
Associated British Foods, the
Primark owner, headed the FTSE 100
risers after reporting a 6 per cent
increase in pre-tax profit to
£725 million and declaring a special
dividend that sent its shares up 148½p,
or 8 per cent, to £20.07. Other big
movers included Rolls-Royce after
the engineering group secured a dealto develop nuclear reactors in Britain.
The shares closed up 5p, or 3.6 per
cent, at 146¾p.
Investors also dialled up BT after
analysts at Berenberg tipped their
clients to buy the stock for the first
time in six months, pushing the
shares up 4¼p, or 2.7 per cent, to
162¾p. WPP picked up 18p, or 1.7 per
cent, to £10.95 after the London-based
advertising group won a lucrative
global contract to handle Coca-Cola’s
marketing work.
On the other end of the index was
Darktrace. The cybersecurity
specialist rose 12.5 per cent on
Monday on the back of a bullish
Berenberg note that flagged the stock
as a “buy”. But the positive sentiment
came to an abrupt halt as it fell to the
bottom of the FTSE 100 with a drop
of 39½p, or 6.1 per cent, to 610p.
Reach, publisher of the Daily
Mirror, rallied ahead of its trading
update this month as its shares rose
9½p, or 3 per cent, to 327p. Sirius
Real Estate found buyers again asIndivior investor cuts holding
healthB
rokers at
Jefferies
have been
instructed to
sell shares in
Indivior on behalf of
Scopia, the drugs
company’s largest
investor.
Jefferies said the
shares represented
about 3 per cent of
the company’s share
capital. Scopia holds a
stake of around
16.9 per cent in the
drugs company.
Jerome Lande, a
parter at Scopia, took
a seat on the FTSE
250 company’s board
as a non-executive
director this year as
part of a governance
overhaul. Scopia willretain its seat on the
board and said that it
would remain a
committed long-term
shareholder.
This is not the first
time that Scopia has
trimmed its stake. In
August, the firm sold
494,104 shares in thecompany. Indivior will
remain Scopia’s top
holding after the
placing.
Last month,
Indivior raised its full-
year revenue guidance
after reporting strong
earnings for the third
quarter. The Slough-
based company said
that operating profit
had more than
doubled to $38 million
in the quarter, up
from the $18 million
in the same period the
year before. It now
estimates net revenue
for the year of
$750 million to
$770 million.
Indivior shares fell
by 1p, or 0.4 per cent,
to 260½p.Indivior specialises in
products to treat
opioid addictionsWall Street report
Profit-taking and fears about supply
chain constraints pulled indices
back from record levels. The Dow
Jones industrial average fell 112.24
points, or 0.3 per cent, to 36,319.98
and the S&P 500 shed 16.45 points,
or 0.4 per cent, to 4,685.25.Company Change
Watches of Switzerland Investors cheer half-year results 15%
Associated British Foods Special dividend pleases investors 8%
Sirius Real Estate Peel Hunt calls it a “must own” stock 4.7%
Rolls-Royce Holdings Shares rally on the back of nuclear reactor deal 3.6%
Baltic Classifieds Recovers some losses 3.1%
CMC Markets Loses momentum after recent rally -4.4%
Discoverie Investors disappointed with asset sale -4.7%
Beazley Positive sentiment grinds to a halt -5.5%
TI Fluid Systems Last week’s quarterly figures disappoint -5.6%
Darktrace Profit-taking after recent rally -6.1%
The day’s biggest movers
consumers adopt
sophisticated beauty
regimes.
The company has
built up a celebrity
following including
Renée Zellweger, the
Hollywood A-lister,
who showed off its
light therapy mask as
part of her
preparations for the
Golden Globe awards.
The £50 million deal
with eComplete will
mark the exit of BGF,
which backed a
£10 million funding
two years ago;
eComplete was
founded by two former
THG executives.DIY beauty
is attractive
investment