FTSE 100 Rises in Cautious Trade Before BOE Decision
0845 GMT - The FTSE 100 rises 0.3% to 7269.04 in early trade, tracking rises in other European stocks after the Federal Reserve announced plans to taper asset purchases but refrained from offering hints about possible future rate increases. Trade is cautious, however, ahead of a Bank of England decision at 1200 GMT, which could result in an interest-rate increase. Oil stocks rise ahead of an OPEC+ meeting, while telecoms firm BT is the biggest riser, up 3.7% after it reported lower 1H pretax profit but brought forward its cost-savings target. Smith & Nephew rises 2.4% after reporting a rise in 3Q sales, while grocer J Sainsbury falls 2.7%, despite reporting a swing to a pretax profit for the first half of fiscal 2022. Housebuilders and mining stocks are mostly lower. (email@example.com)
BT 1H Pretax Profit Fell, Brings Forward Savings Target
BT Group PLC said Thursday that pretax profit for the first half of fiscal 2022 fell slightly together with revenue, but maintained its outlook and brought forward its cost-savings target.
Hikma Pharmaceuticals Says Performance Continues to be Strong; Backs 2021 Guidance
Hikma Pharmaceuticals PLC said Thursday that its performance continues to be strong and backed its 2021 guidance.
Sainsbury Swung to 1H Pretax Profit on Lower Costs
J Sainsbury PLC on Thursday reported a swing to a pretax profit for the first half of fiscal 2022 as a reflection of lower restructuring and impairment costs.
Superdry 1H Revenue Fell Slightly on Lower Sales
Superdry PLC said Thursday that revenue declined slightly in the first half of fiscal 2022, marked by significantly higher in-store sales and lower online sales.
Tate & Lyle 1H 2022 Pretax Profit Halved
Tate & Lyle PLC on Thursday reported a more-than-halved pretax profit for the first half of fiscal 2022, as stronger profit growth in its food-and-beverage-solutions and sucralose segments offset lower profits from its primary-products business.
JD Sports Required to Sell Footasylum by UK Regulator
A U.K. regulator said Thursday that it will require sports-goods retailer JD Sports Fashion PLC to sell off its Footasylum business, after an investigation found competition concerns.
Smith & Nephew 3Q Revenue Rose
Smith & Nephew PLC said Thursday that revenue for the third quarter of its fiscal year rose, and that it is on track to deliver at the lower end of guidance for the year due to the pandemic.
Alien Metals to Raise GBP3.5 Mln via Share Placing to Fund Work Program
Alien Metals Ltd. said Thursday that it plans to raise 3.5 million pounds ($4.8 million) via a share placing which will be used toward its work program over the next year.
Sainsbury Swung to 1H Pretax Profit, Says It Is Well Placed for Christmas -- Update
J Sainsbury PLC on Thursday reported a swing to a pretax profit for the first half of fiscal 2022 as a reflection of lower restructuring and impairment costs, and said that it is prepared for Christmas despite supply-chain challenges.
Ten Entertainment Expects FY 2021 Pretax Profit on Sales Strength
Ten Entertainment Group PLC said Thursday that it expects to make a pretax profit for fiscal 2021, compared with previous expectations of a loss.
IMI's 3Q Beats Views; 2021 Seen Hit by Exchange Rates
IMI PLC said Thursday that performance in the third quarter was ahead of the board's expectations, but that it expects full-year financial results to be hit by exchange rates.
Sainsbury's Competitive Environment Seen as a Concern, Shares Fall
0841 GMT - J Sainsbury's sharp reduction in costs has been the main driver of its results for the first half of fiscal 2022, but the fiercely competitive environment remains a concern, says Richard Hunter, head of markets at Interactive Investor. The British grocer's share price has increased by 39% over the last year compared with a hike of 23% for the wider FTSE 100 index, Hunter says. "However, the market consensus of the stock has recently slipped to a hold, suggesting that the price is up with events in the absence of any further meaningful developments at Sainsbury, or indeed the sector as a whole," Hunter says. Shares are down 2.7% at 281.00 pence. (firstname.lastname@example.org; @sabelaojeaguix)
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