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FTSE 100 Rises After Treasury, BOE Attempt to Calm Market Turmoil

09/27/2022 | 05:03am EST

FTSE 100 Rises After UK Treasury, BOE Attempt to Calm Market Turmoil

0809 GMT - The FTSE 100 rises 0.6% to 7064 points after the U.K. Treasury and Bank of England tried to calm market turbulence Monday in response to concerns over new fiscal stimulus. The BOE said it was willing to change interest rates as much as needed but wouldn't assess the impact of fiscal policy until its next scheduled meeting on November 3. The Treasury promised to deliver a new strategy to bring debt under control on November 23. "There's nothing wrong with being ambitious on the economy but timing is everything and when the cost is much higher interest rates, there won't be many winners and the economy simply won't see the benefit," Oanda analyst Craig Erlam writes. (renae.dyer@wsj.com)

 
Companies News: 

SSE PLC Sees 1H Adjusted Earnings Per Share Rising; Backs Guidance

SSE PLC said Tuesday that it expects higher adjusted earnings per share for the first half of the fiscal year, and backed its full-year guidance.

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United Utilities Sees Lower 1H Revenue Amid Inflation, Higher Power Prices

United Utilities Group PLC said Tuesday that revenue for both the first half and the full fiscal year ending March 31 are expected to be lower on year amid the inflationary environment and higher power prices.

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UK Regulator to Examine Acquisition of National Grid Stake by Consortium

The U.K. competition regulator said Tuesday that it is considering whether the acquisition of a 60% shareholding in National Grid PLC by Macquarie Infrastructure and Real Assets (Europe) Ltd. and British Columbia Investment Management Corp. could lessen competition.

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Weir Group Backs 2022 Views, Targets Operating-Margin Growth

Weir Group PLC said Tuesday that is taking initiatives to increase operating margins beyond 2023, and backed its guidance for the full year.

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Saga Swung to 1H Pretax Loss; Lowers Full-Year Profit Guidance

Saga PLC said Tuesday that it swung to a first-half pretax loss despite higher revenue on a one-off impairment of assets, and that it cut full-year expectations.

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SSP to Report Around GBP2.17Bln in Sales for FY 2022 as Passenger Numbers Recover

SSP Group PLC said Tuesday that it expects to report sales of around 2.17 billion pounds ($2.32 billion) for fiscal 2022 as passenger numbers continue to recover, and that it remains confident in the continuing resilience of its business model.

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Biffa Agrees to GBP1.3 Bln Offer by ECP, Lower than Previously Indicated

Biffa PLC said Tuesday that it has agreed to a 1.3 billion-pound ($1.39 billion) takeover by Bears Bidco Ltd., a new company formed and controlled by ECP V, LLC, slightly lower than the price indicated on June 7.

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Card Factory Swung to 1H Pretax Profit as Customer Spending Normalized

Card Factory PLC reported on Tuesday a swing to pretax profit in the first half of fiscal 2023, driven by a return to normal customer spending after the lifting of coronavirus measures.

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Domino's Pizza Group Appoints Elias Diaz Sese as Interim CEO

Domino's Pizza Group PLC said Tuesday that it has appointed Elias Diaz Sese as interim chief executive officer, succeeding Dominic Paul, who is leaving to join FTSE 100-listed hotel-and-restaurant company Whitbread PLC.

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Close Brothers FY 2022 Net Profit Fell on Higher Costs; Raises Dividend

Close Brothers Group PLC said Tuesday that profit for fiscal 2022 fell on higher expenses, but increased its dividend payout.

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AG Barr Warns of Economic Challenges Ahead Despite Good 1H Performance

A.G. Barr PLC said Tuesday that it expects the current economic environment to hurt consumers' purchasing behavior as it reported a rise in pretax profit for the first half of fiscal 2023 on a rise in revenue across all of its core brands.

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First Property Funds Under Management Fell in Early Fiscal 2023

First Property Group PLC said Tuesday that its total funds under management have decreased in fiscal 2023 to date following the sale of several properties.

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Mortgage Advice Bureau 1H Pretax Profit Fell Amid Difficult Macro Environment

Mortgage Advice Bureau (Holdings) PLC said Tuesday that pretax profit for the first half fell amid an increasingly difficult macro environment.

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S&U 1H Pretax Profit Rose; Raises Dividend

S&U PLC said Tuesday that pretax profit for the first half of fiscal 2023 rose on increased revenue and it declared a dividend payout.

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Billington Shares Rise on Higher 1H Pretax Profit, Expectation of 2022 Profit Beating Views

Shares in Billington Holdings PLC rose Tuesday after the company said that its first-half pretax profit rose significantly together with revenue on new business and continued recovery, and that it expects full-year profit to exceed management views.


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

(END) Dow Jones Newswires

09-27-22 0502ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.02% 0.55409 Delayed Quote.3.59%
BIFFA PLC 0.00% 407.2 Delayed Quote.13.58%
BILLINGTON HOLDINGS PLC 0.00% 225 Delayed Quote.-4.26%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.03% 0.604716 Delayed Quote.3.81%
CARD FACTORY PLC 3.77% 77.1 Delayed Quote.29.15%
CLOSE BROTHERS GROUP PLC 0.55% 1094 Delayed Quote.-22.08%
DOMINO'S PIZZA GROUP PLC 1.79% 295.2 Delayed Quote.-35.66%
DOMINO'S PIZZA INC. -0.73% 382.76 Delayed Quote.-32.17%
EURO / BRITISH POUND (EUR/GBP) -0.02% 0.8572 Delayed Quote.2.21%
FIRST PROPERTY GROUP PLC 0.00% 23.5 Delayed Quote.-27.69%
FTSE 100 -0.03% 7556.23 Delayed Quote.2.33%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.15% 0.010021 Delayed Quote.1.42%
MACQUARIE GROUP LIMITED -0.02% 180.01 Delayed Quote.-12.27%
NATIONAL GRID PLC -0.49% 1020 Delayed Quote.-3.76%
SAGA PLC 4.63% 104 Delayed Quote.-63.51%
SSE PLC -0.98% 1723 Delayed Quote.4.49%
SSP GROUP PLC 4.05% 218.5 Delayed Quote.-9.00%
THE WEIR GROUP PLC -0.59% 1759.5 Delayed Quote.2.80%
UNITED UTILITIES GROUP PLC 0.29% 1049 Delayed Quote.-3.67%
US DOLLAR / BRITISH POUND (USD/GBP) -0.06% 0.812869 Delayed Quote.10.37%
WHITBREAD PLC 0.12% 2609 Delayed Quote.-12.89%
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