UK House-Price Growth Should Slow in Months Ahead
0733 GMT - The annual growth rate in U.K. house prices is already slowing and will continue to do so for the remainder of the year as buyer demand cools due to rising mortgage rates, Pantheon Macroeconomics senior U.K. economist Gabriella Dickens says in a note. Mortgage rates are expected to edge up further after the Bank of England's rate increases, while households' disposable incomes are set to fall despite more government support, she says. Home-buyers are also unlikely to finance their purchase with pandemic savings because of the current low confidence levels, Dickens says. "We expect house prices to merely hold steady in the second half of this year, leaving the year-over-year growth rate at around 5.0% by the end of this year." (xavier.fontdegloria@wsj.com)
Companies News:
Wood Group to Sell Built Environment Business to WSP for $1.9 Bln
John Wood Group PLC said Wednesday that it has agreed to sell its Built Environment consulting business to Canadian firm WSP Global Inc. for $1.9 billion.
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Frasers Group Buys Some Intellectual Property of Missguided for GBP20M
Frasers Group PLC said Wednesday that it is buying certain intellectual property of fashion retailers Missguided Ltd. and Mennace Ltd. for 20 million pounds ($25.2 million) in cash.
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Impax Asset Management Group 1H Pretax Profit Rose; Increases Dividend
Impax Asset Management Group PLC reported Wednesday a rise in pretax profit, revenue and assets under management for the first half of fiscal 2022, and increased its dividend payout.
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Parsley Box Revises 2022 Guidance Amid Challenging Macroeconomic Environment
Parsley Box Group PLC said Wednesday that it has revised its expectations for 2022 due to the challenging macroeconomic environment.
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Dr. Martens FY22 Pretax Profit, Revenue Rose Materially; Further Growth Expected
Dr. Martens PLC reported on Wednesday a significant rise in pretax profit for fiscal 2022 and said that it expects to close the current financial year with high-teens revenue growth as it increases prices amid an inflation-led environment.
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Tullow Oil, Capricorn Energy Agree to Merge
Tullow Oil PLC said Wednesday that it has agreed to merge with Capricorn Energy PLC.
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Tern to Buy Pires Investments for GBP14.9 Mln in All Stock Deal
Tern PLC said Wednesday that it has agreed to buy Pires Investments PLC for 14.9 million pounds ($18.8 million) in shares.
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Orchard Funding Group Upgrades 2022 Profit Views
Orchard Funding Group PLC said Wednesday that performance in fiscal 2022 was stronger than expected and upgraded its profit expectations.
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Silver Bullet Data Raises GBP4.5M to Drive 4D Product Sales Growth
Silver Bullet Data Services Group PLC said Wednesday that it has raised 4.5 million pounds ($5.7 million) and will use the money to drive the sales growth of its 4D product, as well as for working capital.
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Silver Bullet Data 2021 Pretax Loss Widened on Higher Costs
Silver Bullet Data Services Group PLC on Wednesday reported a widened pretax loss for 2021, driven by higher expenses, but said it is confident in achieving 2022 expectations.
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Location Sciences CEO, CFO to Leave; Considering Strategic Options
Location Sciences Group PLC said Wednesday that Chief Executive Officer Mark Slade and Chief Financial Officer David Rae will leave the company on June 22, and that the board continues to assess strategic options for the Verify business.
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Victoria CFO Mike Scott to Retire in 2022; Brian Morgan Named Successor
Victoria PLC said Wednesday that its Chief Financial Officer Mike Scott has decided to retire later in 2022 after six years in the role.
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Nanosynth Refocuses Business Strategy as Demand for Masks Drops; Shares Fall
Shares in Nanosynth Group PLC fell Wednesday after the company said that it has changed its business strategy and has decided to stop manufacturing masks directly, as demand has dropped alongside Covid-19 restrictions being lifted.
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Dewhurst Group Shares Fall as 2022 Profit Seen Hit by Cybersecurity Incident
Shares in Dewhurst Group PLC fell on Wednesday after it said that its administrative systems aren't currently fully operational after a cybersecurity incident on May 23, and that as a result it expects 2022 profitability to be materially below expectations.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
06-01-22 0352ET
