BOE's Linker Purchase Helped Stabilize UK Real Rates

BOE's Linker Purchase Helped Stabilize UK Real Rates

0659 GMT - The Bank of England's decision to buy index-linked gilts proved effective in stabilizing U.K. real rates on Tuesday, Mizuho rates strategist Peter McCallum and rates strategy analyst Evelyne Gomez-Liechti write in a note. "If the BOE can engineer similar stability for the rest of this week, it will give LDI [liability-driven investment] funds a greater chance of coping once the temporary buying window is closed, i.e. from next Monday," they say. The BOE added linkers to its temporary purchases starting Tuesday. Mizuho's strategists see an "extra complication" in that the issue of active quantitative tightening is still there with a planned start at the end of October. "If the BOE is complacent, we've seen how quickly the market can turn," the strategists say. ([e-mail])

 
Companies News: 

PageGroup 3Q Gross Profit Rose, Sees 2022 Operating Profit in Line With Views

PageGroup PLC said Wednesday that gross profit for the third quarter of 2022 rose 14%, and that it expects operating profit for the full year to be in line with market views.

---

Barratt Developments' Early FY23 Forward Sales Slip, Sees Full Year In-Line

Barratt Developments PLC said Wednesday that total forward sales value fell 8.6% at the start of fiscal 2023, though it still expects to meet market expectations for the full year.

---

Darktrace Says Sales Momentum Continued in 1Q; Backs FY 2023 Guidance

Darktrace PLC said Wednesday that continuing sales momentum drove its performance in the first quarter of fiscal 2023, and backed its guidance for the year.

---

QinetiQ Sees FY 2023 in Line With Views Given Robust Order Intake

QinetiQ Group PLC said Wednesday that it is confident about delivering a performance in line with the board's expectations for fiscal 2023, given that most of the full-year revenue is under contract.

---

Kin & Carta FY 2022 Pretax Loss Widens on Higher Costs; Revenue Rose

Kin & Carta PLC said Wednesday that its fiscal 2022 pretax loss widened despite higher revenue, on increased costs and lease-related charges.

---

M.J. Gleeson Chairman Dermot Gleeson to Step Down After 28 Years in Role

M.J. Gleeson PLC said Wednesday that Chairman Dermot Gleeson will step down with effect from Dec. 31, to be replaced by Chief Executive James Thomson.

---

Hostelworld Sees 2022's Ebitda Modestly Positive

Hostelworld Group PLC said Wednesday that it expected to end 2022 with a modestly positive Ebitda and with a stronger cash position than originally expected, and that net revenue in September was above 2019's levels.

---

Thruvision Sees 1H Revenue Rising; Has Strong Backlog of Orders

Thruvision Group PLC said Wednesday that it expects first-half fiscal 2023 revenue to increase, and that it expects to deliver a strong backlog of orders in the second half.

---

Columbia Threadneedle freezes UK property fund as cash balance dwindles -- Financial News

Cash in the fund at a level where future redemption requests cannot be met 'until a further orderly sale of assets has completed'

---

Angling Direct Sees FY 2023 Below Expectations Amid Deteriorating Consumer Outlook

Angling Direct PLC shares fell 17% on Wednesday early trading after the company said that it is downgrading its forecast for fiscal 2023 given the deteriorating consumer outlook, and that pretax profit for the first half fell on higher costs.

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

10-12-22 0328ET