FTSE 100 Rises as China Eases Covid Curbs
0855 GMT - The FTSE 100 rises 0.3% to 7399 points, led by China-exposed stocks and mining shares after China eased some of its coronavirus curbs. Insurer Prudential and luxury fashion group Burberry rally along with mining shares Anglo American, Antofagasta and Rio Tinto. Meanwhile, market sentiment is also boosted after Thursday's cooler-than-forecast U.S. inflation data. "The October inflation data will make it easier for the Federal Reserve to justify a more modest 50-basis-point [interest rate] hike in December," UBS Global Wealth Management chief investment officer Mark Haefele writes. In the U.K., data showed the economy contracted 0.2% quarter-on-quarter in the third quarter, albeit less than the 0.5% decline expected in a WSJ survey of analysts. (renae.dyer@wsj.com)
Companies News:
Halma Appoints Steve Gunning as CFO
Halma PLC said Friday that it has appointed Steve Gunning as chief financial officer and that he will join on Jan. 16.
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Intelligent Ultrasound to Raise GBP5.2 Mln via Placing, Subscription
Intelligent Ultrasound Group PLC said Friday that it will raise 5.2 million pounds ($6.1 million) via a placing and a subscription, and that it will use the proceeds to strengthen the balance sheet and provide additional working capital.
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Beazley 3Q Gross Premiums Rose 22%, Sees Further Growth on Robust Demand
Beazley PLC said Friday that third-quarter gross premiums rose 22% and backed its 2022 views, driven by continued robust demand.
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Redrow Sees FY 2023 Lower Margin Despite Record Order Book
Redrow PLC said Friday that it expects operating margins to decline in fiscal 2023 because of a challenging backdrop in the housing market, despite reaching a record order book.
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Seeing Machines Names Martin Ive New CFO as Naomi Rule Steps Down
Seeing Machines Ltd. said Friday that it has appointed Martin Ive as chief financial officer and that he will join on Monday.
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Permanent TSB Group 3Q New Lending Volumes Rose 33%; Lifts 2022 Guidance
Permanent TSB Group Holdings PLC said Friday that third quarter new lending volumes rose 33% year-on-year to 1.8 billion euros ($1.84 billion) driven by its Green mortgage offering, and raised its guidance for the year.
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FRP Advisory Group 1H Revenue, Adjusted Ebitda Rose
FRP Advisory Group PLC said Friday that it expects to report a rise in revenue and adjusted Ebitda for the first half of fiscal 2023, and that the board is confident of making further progress in the current financial year.
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Galliford Try Sees FY 2023 Performance in Line With Views
Galliford Try Holdings PLC said Friday that it is confident of achieving its fiscal 2023 targets despite the current challenging market backdrop.
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Synectics to Sell Security Division for GBP200,000
Synectics PLC said Friday that it has agreed to sell its Synectics Security division for up to 200,000 pounds ($234,300) to Parfas Ltd.
Market Talk:
Depth of Upcoming UK Recession Will Likely Depend on Energy Support
0836 GMT - U.K. GDP is expected to fall cumulatively by around 2% until mid-2023, but a lot will depend on budget-related announcements expected for Thursday, ING's developed markets economist James Smith says in a note. "We'll be looking for details on how the government will make its energy support less generous from April, something which has the greatest scope to reshape the 2023 outlook," he says. Still, a recession looks highly likely as manufacturing and construction activity deteriorates due to elevated energy costs and higher mortgage rates, while consumer spending is also likely to weaken, Smith says. (xavier.fontdegloria@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
11-11-22 0413ET
