FTSE 100 Seen Opening Higher as Traders Continue to Weigh UK Fiscal Policy
0648 GMT - The FTSE 100 is seen opening higher after a volatile start to the week on Monday amid concerns that U.K. Treasury chief Kwasi Kwarteng's fiscal policy will send inflation and government debt soaring. IG futures data show the London index opening up 37 points. Kwarteng's mini-budget announcement on Friday sparked turbulence in financial markets, prompting the Bank of England to issue a statement on Monday. The market will "certainly force the BOE to deliver an emergency 100 basis points interest rate hike in the next couple of hours" as the threat of acting at the next meeting won't be enough to stop the pound's meltdown, Swissquote Bank analyst Ipek Ozkardeskaya writes. (firstname.lastname@example.org)
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.
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.
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.
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.
Unilever Needs to Appoint an External CEO, RBC Says
0605 GMT - Unilever would need to hire an external CEO given that the company's culture is excessively introspective and lacking in critical candor, RBC analysts James Edwardes Jones and Emma Letheren say in a research note. They say that the Anglo-Dutch retailer should bring in a person who isn't steeped in that culture, pointing to the period that Paul Polman, formerly at Nestle and Procter & Gamble, was CEO (2009-18), when Unilever saw an improvement in sales growth compared with the average for the combined period 2004-2008 and 2019-21. "We think Unilever needs more of a shake-up. It worked for a while under Paul Polman; we'd like to see it work again," the analysts say. (email@example.com)
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(END) Dow Jones Newswires