10-Year Gilt Yield Falls to Lowest Level In a Month

0816 GMT - Ten-year U.K. gilt yields fall to their lowest level since the so-called mini-budget unveiled on Sept. 23, in a sign that investor confidence toward U.K. assets is gradually recovering, albeit with caution. U.K. gilts started to recover on the resignation of the Treasury chief and then Prime Minister Liz Truss, and the government's U-turn from the mini-budget, which had led to massive selloffs and prompted the Bank of England to embark on temporary bond purchases. Having briefly hit 3.814% earlier in the day, the lowest level since the mini-budget, the 10-year gilt yield is trading at 3.842%, down 21 basis points, according to Tradeweb. (emese.bartha@wsj.com)


 
Companies News: 

Pearson Made Progress in 2022 to Date; Sees Full-year Meeting Market Views

Pearson PLC said Monday that it has made strong progress in the first nine months of the year, and that it expects to meet the full-year adjusted operating profit market consensus.

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Auto Trader Sells Webzone for EUR30 Mln

Auto Trader Group PLC said Monday that it has sold Webzone Ltd. for 30 million euros ($29.6 million) as the company focuses on its U.K. businesses.

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Helical Met or Beat 1H Targets; Collects Most of Rent Due

Helical PLC said Monday that it has met or exceeded its development and leasing targets for the first half of fiscal 2023, and has collected most of the rent due.

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Pendragon Gets UK Takeover Panel Extension to Hedin Mobility Deadline

Pendragon PLC said Monday that the U.K. Takeover Panel has agreed to extend the deadline for Hedin Mobility Group AB to either make an offer for the company or walk away until Nov. 21 so that the parties can continue talks.

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Benchmark Holdings Expects FY 2022 Adjusted Ebitda Ahead of Consensus on Good 4Q Performance

Benchmark Holdings PLC said Monday that it expects adjusted Ebitda for fiscal 2022 to be ahead of consensus expectations due to a better-than-expected performance across its business areas in the fourth quarter.

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Kavango Resources Raises GBP3 Mln to Fund Exploration Costs

Kavango Resources PLC said Monday that it has raised 3 million pounds ($3.4 million) via a share placing and subscription, and will use the money towards the costs of its exploration program and for working capital.

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Fulcrum Utility Expects 1H Revenue Fall, Swing to Ebitda Loss

Fulcrum Utility Services Ltd. said Monday that it expects to report a fall in revenue and a swing to an adjusted earnings loss for the first half of fiscal 2023 as it has experienced significant challenges from energy and wider market conditions.

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Supreme Says Retail Sales Recovery Point to Temporary Nature of Lighting Category Slowdown

Supreme PLC said Monday that the early indications of recovery seen in September and October's retail sales reaffirmed the temporary nature of the slowdown seen in the lighting category's market during the first half of fiscal 2023.


 
Market Talk: 

UK PMIs Expected to Fall in October as Government Chaos Takes Toll on Sentiment

0800 GMT - The U.K. purchasing managers indexes for October are likely to show the economy continued to contract as political instability likely weighed on sentiment, economists at UniCredit Research say in a note. The Italian bank expects the services PMI to fall to 49.6 in October from 50.0 in September, while economists polled by The Wall Street Journal see the U.K. services PMI coming in at 49.5. "Consumers are cutting back on discretionary services amid tighter financial conditions and lower real disposable income," UniCredit Research says. The manufacturing PMI is likely to be little changed, at 48.3, the bank says, while a broader consensus from economists points to a reading of 48.2. U.K. flash PMIs will be published at 0830 GMT. (maria.martinez@wsj.com)


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

10-24-22 0437ET