BOE's Bailey Could Signal Pause, Weighing on Pound

0729 GMT - Bank of England Governor Andrew Bailey could signal in a speech later that the central bank could leave interest rates on hold at its next meeting and this could weigh on sterling, ING says. "There is a risk that he hints at a pause, having seen fellow central bankers in Australia and Canada do so over recent months," ING analyst Chris Turner says in a note. The market is pricing in an 80% chance that the BOE will deliver one last rate rise of 25 basis points on May 11 whereas ING expects rates to remain steady, he says. GBP/USD trades flat at 1.2430 but EUR/GBP rises 0.1% to 0.8796. Bailey speaks in Washington at 1300 GMT. (renae.dyer@wsj.com) 


 
Companies News:

Hikma Pharmaceuticals Appoints Riad Mishlawi CEO

Hikma Pharmaceuticals PLC said Wednesday that Riad Mishlawi has been appointed chief executive officer effective Sept. 1 and that Said Darwazah will step down as acting CEO and return to his role as executive chairman.

---

LBG Media 2022 Earnings Fell Amid Tough Environment; CFO to Retire

LBG Media PLC said Wednesday that earnings fell in 2022 as the tough economic environment hit advertising spending, and that Chief Financial Officer Tim Croston has decided to retire.

---

Unite Group Sees Strong Sales for New Academic Year, Backs Growth Targets

Unite Group PLC said Wednesday that it has recorded strong advance sales for the upcoming academic year and is confident in meeting rental growth targets.

---

Everyman 2022 Pretax Loss Narrowed as Cinema Recovers

Everyman Media Group PLC on Wednesday said its 2022 pretax loss narrowed as audiences returned to cinemas and that current trading has been in line with expectations.

---

Sosandar to Report Swing to FY 2023 Pretax Profit

Sosandar PLC said Wednesday that it expects to report a swing to a pretax profit for fiscal 2023 and that revenue rose.

---

Oxford Cannabinoid Names Clarissa Sowemimo-Coker As Permanent CEO

Oxford Cannabinoid Technologies Holdings PLC on Wednesday confirmed the permanent appointment of Clarissa Sowemimo-Coker as its chief executive officer.

---

Marks Electrical FY 2023 Earnings Expected to Rise on Year on Market Share Gains

Marks Electrical Group PLC said Wednesday that it expects adjusted earnings and revenue to rise on year in fiscal 2023 as it made market share gains in the major domestic appliance and consumer electronics markets and booked strong performance across other product categories.

---

De La Rue Sees FY 2023 Profit Missing Market Expectations

De La Rue PLC said Wednesday that it expects to report that its fiscal 2023 adjusted operating profit missed market expectations, and set out its fiscal 2024 expectations.

---

Craneware to Start GBP5 Mln Share Buyback Program

Craneware PLC said Wednesday that it plans to start a 5 million pound ($6.2 million) share buyback program as the company believes it is the best way to use cash and deliver value to shareholders, while offsetting future dilution from share incentive schemes.

---

Treatt Sees Rise in 1H Adjusted Pretax Profit; FY 2023 in Line With Views

Treatt PLC said Wednesday that adjusted pretax profit and revenue rose for the first half of fiscal 2023, and that its performance has been in line with the board's expectations for the year.

---

Georgia Capital Approves $10 Mln Share Buyback Program

Georgia Capital PLC said Wednesday that the board has approved a $10 million share-buyback program.

---

DP Eurasia's 2022 Pretax Profit Fell on Higher Financial Costs

DP Eurasia NV said Wednesday that its pretax profit fell in 2022 due to rising financial costs, but that revenue rose on year and the strong sales growth has continued in 2023.

---

Bezant Resources Raises GBP750,000 in Discounted Placing

Bezant Resources PLC said Wednesday that it has raised 750,000 pounds ($931,950) in a discounted placing, with the proceeds to be used toward the development of a number of its mining projects.

---

Vast Resources Raises $1.2 Mln in Placing for Romanian Mine, Obligations

Vast Resources PLC said Wednesday that it has raised 978,967 pounds ($1.2 million) through a share placing, to be used at its Romanian polymetallic mine and to provide liquidity to meet corporate obligations until an expected settlement comes through.

---

Petrofac Expects Wider 2022 Loss on Higher Costs

Petrofac Ltd. on Wednesday said it expects to report a wider loss in 2022 due to the recognition of higher project costs after reviewing its portfolio.

---

System1 Group Expects FY 2023 Profit to Beat Expectations on Strong Revenue Growth

System1 Group PLC said Wednesday that its revenue grew in the fourth quarter of its fiscal 2023, and that it expects profit for the full fiscal year to slightly exceed its previous expectations.

---

Iomart Sees FY 2023 Revenue Rising But Profit Falling on Higher Costs

Iomart Group PLC said Wednesday that it expects performance for fiscal 2023 to be in line with market expectations, with higher revenue but lower earnings and profit on increased costs.

---

Invinity Energy Systems Shares Rise on GBP11 Mln Award

Shares in Invinity Energy Systems PLC rose 21% on Wednesday after the company won 11 million pounds ($13.7 million) of grant funding from the U.K. Energy Security and Net Zero Department which it will use to deploy a 30 megawatt-hour vanadium flow battery.

---

Flowtech Fluidpower Replaces CEO; Swung to 2022 Pretax Loss

Flowtech Fluidpower PLC said Wednesday that Mike England has been appointed chief executive officer with immediate effect to replace Bryce Brooks, who is leaving the company, and that it swung to a pretax loss in 2022 on higher costs.


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

(END) Dow Jones Newswires

04-12-23 0348ET