FTSE 100 Falls in Early Trade as BOJ Move Spooks Markets
0925 GMT - The FTSE 100 falls 0.2% to 7346.60 as a surprise decision by the Bank of Japan to tweak yield-curve control to allow the 10-year bond yield to increase to around 0.5% from 0.25% previously spooks markets globally, exacerbating fears about tighter monetary policy just as recession looms. "Tighter BOJ policy would remove one of the last global anchors that's helped to keep borrowing costs at low levels more broadly," Deutsche Bank analysts say in a note. Equities had already got the week off to a weak start on fears that central banks will continue raising rates in 2023, they say. Retail and property stocks fall, partly offset by rises in heavyweight mining and oil-linked companies. (jessica.fleetham@wsj.com)
Companies News:
Bunzl Agrees to Buy Four Businesses and Sell UK Healthcare Division
Bunzl PLC said Tuesday that it has agreed to buy four businesses and to the sale of its U.K. healthcare division.
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WANdisco Agrees Contract Worth $31 Mln With Undisclosed Telecom Supplier
WANdisco PLC said Tuesday that it has signed an agreement worth $31 million with an undisclosed tier-1 global telecommunications supplier.
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Cochlear, Demant Merger Faces Further Probe by UK Competition Watchdog
The U.K.'s Competition and Markets Authority said Tuesday that it is referring the merger of Cochlear Ltd. and Demant AS--known as Oticon Medical--to a Phase 2 investigation.
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GSTechnologies 1H Net Loss Widened on Subsidiary Underperformance
GSTechnologies Ltd. on Tuesday reported that its half-year net loss widened slightly as revenue declined, dragged by the poor performance of its subsidiary EMS Wiring Systems, which it disposed of after the end of the period.
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Focusrite to Buy Sonnox for GBP9.1 Mln
Focusrite PLC said Tuesday that it will buy audio processing software designer Sonnox Ltd. for 9.1 million pounds ($11.1 million) to add to its portfolio.
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Bens Creek 1H Pretax Loss Widened on High Costs
Shares in Bens Creek Group PLC fell as much as 14% on Tuesday after the company said its first-half pretax loss widened as revenue was outweighed by production costs and non-cash charges.
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Churchill China Appoints New CFO
Churchill China PLC said Tuesday that it has appointed Michael Cunningham as chief financial officer.
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Goodwin Sees FY 2023 Pretax Profit Rising Modestly Instead of Substantially
Goodwin PLC said Tuesday that it expects pretax profit for the second half of fiscal 2023 to be similar to the first half and that this will in turn result in a modest increase in its annual pretax profit instead of a substantial increase as previously guided.
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Surface Transforms CFO to Step Down
Surface Transforms PLC said Tuesday that Chief Financial Officer Michael Cunningham will step down at the end of May.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
12-20-22 0446ET
