More than 100 UK-listed companies have warned of negative effects from the war in Ukraine, with few of them so far quantifying the impact on their earnings, according to research by Bowmore Asset Management.
The majority of the 115 companies the firm identified cautioned about effects specific to their businesses in the region, while many others referred to the broader macroeconomic risk generated by the war, Bowmore said.
FTSE 100 companies sounding the alarm included BP Plc, Shell Plc, JD Sports Fashion Plc and British American Tobacco Plc. Imperial Brands Plc lowered its full-year net revenue expectations while announcing plans to exit Russia.
Even before the invasion, some British companies had warned of the effects of rising costs and supply chain disruptions unleashed by COVID-19. Now the war is amplifying that impact.
Fevertree Drinks Plc, a maker of cocktail mixers, trimmed its profit forecast after the invasion led to a spike in commodity prices. Ocado Group Plc blamed the war for aggravating uncertainties over inflation.
Still, amid the broadly negative impact on earnings, a handful of companies trading on UK stock markets identified potential benefits.
Ferro-Alloy Resources, a mining company based in Kazakhstan, sees the sharp decline in the Russian and Kazakh currencies reducing its operating costs, according to Bowmore, while some LSE-listed investment trusts signaled they stand to benefit from rising commodity prices.
Ukraine’s Zelenskyy urges Switzerland to crack down on Russian oligarchsUkrainian President Volodymyr Zelenskyy urged Switzerland on Saturday to crack down on Russian oligarchs who he said were helping to wage war on his ... World News
Russia warns of Ukrainian mines in Black SeaRussia on Saturday warned that mines that Ukrainians had deployed in the Black Sea against its “military operation” could drift as far as the straits ... World News
Ukraine calls on China to ‘condemn Russian barbarism’Ukraine on Saturday called on China to join the West in condemning “Russian barbarism,” after the US warned Beijing of consequences if it backed ... World News