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FTSE 100 Seen Higher on Hopes of Less Aggressive Fed

07/29/2022 | 03:15am EDT

FTSE 100 Set to Rise After Mixed Asia Trading, US Gains

0637 GMT - The FTSE 100 is expected to open about 37 points higher at 7382, according to IG futures, after mixed trading in Asia and a higher U.S. close. Markets in Australia and South Korea gain, though stocks in mainland China, Hong Kong and Japan drop. The Dow closed 1% higher Thursday following data showing the U.S. economy slipped into a technical recession, contracting 0.9% during the second quarter. "With that in mind, markets have started to price out the prospect of more aggressive action by central banks when it comes to raising rates, pushing yields lower and boosting equity markets. In that context, we can expect to see a higher European open," CMC Markets analyst Michael Hewson says in a note. (philip.waller@wsj.com)

 
Companies News: 

Standard Chartered Second-Quarter Profit Rose 6.5%

Standard Chartered PLC's second-quarter profit rose 6.5% compared to the same period a year earlier, thanks to stronger interest income, as it announced a new $500 million share buyback program.

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Rightmove 1H Pretax Profit, Revenue Rose as U.K. Housing Market Stayed Strong

Rightmove PLC on Friday reported a 5.7% rise in first-half pretax profit as the U.K. housing market remained healthy and above prepandemic levels, with high sales activity and demand.

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NatWest Beat 2Q Market Views with Higher Operating Pretax Profit, Total Income

NatWest Group PLC reported on Friday operating pretax profit and revenue ahead of market expectations for the second quarter of 2022, and a stable set of operating expenses.

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Glencore Cuts 2022 Guidance for Copper on Technical Constraints

Glencore PLC on Friday cut its 2022 output guidance for copper, while keeping its production outlook on other commodities unchanged.

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Intertek 1H Revenue, Pretax Profit Rose on Strong Pricing Power, Cost Management

Intertek Group PLC said Friday that pretax profit and revenue rose for the first half because of strong pricing power and disciplined cost management.

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Aston Martin 1H Pretax Loss Widened, Revenue Rose; Backs Guidance

Aston Martin Lagonda Global Holdings PLC said Friday that its first-half pretax loss widened, though revenue rose, and backed its full-year guidance.

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IMI 1H Pretax Profit Fell Despite Rise in Revenue

IMI PLC said Friday that pretax profit fell slightly despite revenue rising in the first half as sales grew 18%.

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Shoe Zone to Buy Back Up to GBP1 Mln in Shares

Shoe Zone PLC said Friday that it aims to buy back up to one million pounds ($1.2 million) of the company's shares.

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Kerry Group 1H Pretax Profit, Revenue Rose; Backs 2022 Guidance

Kerry Group PLC said Friday that its first-half pretax profit rose on higher revenue and backed its full-year guidance.

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Croda International 1H Pretax Profit Rose, Revenue Beat Consensus

Croda International PLC said Friday that its pretax profit rose in the first half, with revenue beating consensus, and that it expects full-year adjusted pretax profit to be modestly ahead of previous expectations.

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IAG 1H Net Loss Narrowed as Revenue Soared; Expects Net Debt to Rise by Year End

International Consolidated Airlines Group SA said Friday that its first-half net loss narrowed as revenue rose, and that it expects net debt to increase by the year end.

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Jupiter Fund Management 1H Pretax Profit Fell on Investor Risk Aversion

Jupiter Fund Management PLC reported on Friday a fall on pretax profit for the first half of 2022 as investor sentiment worsened amid a turbulent market backdrop.

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AstraZeneca Appoints Michel Demare as New Chairman-Designate

AstraZeneca PLC said Friday that its independent nonexecutive director and chairman of the company's remuneration committee Michel Demare has been appointed as the new chairman-designate of the board.

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YouGov Sees Strong FY 2022 With Broad-Based Underlying Growth

YouGov PLC said Friday that its fiscal 2022 performance was strong, with continued underlying growth across all divisions and geographies.

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Ben & Jerry's, Unilever Fail to Reach Out-of-Court Deal on Israeli Dispute, Reuters Reports

--Ben & Jerry's and its parent company Unilever PLC's talks to reach an out-of-court agreement on a dispute over the sale of its Israeli business to a licensee have broken down, sending the issue back to a federal judge, Reuters reports, citing an unnamed source.

 
Market Talk: 

Standard Chartered's 2Q Seems Solid, Buyback Welcomed

0540 GMT - Standard Chartered's 2Q performance should be well-received by investors after showing solid numbers and unveiling a $500 million buyback program, Jefferies analysts Joseph Dickerson and Aqil Taiyeb say in a research note. The Asia-focused bank reported a pretax profit 25% ahead of market views, while delivering in line despite a weaker volume growth, they say. However, it is likely that investors will be checking if the 1% revenue beat was attributed to non-interest income as opposed to net-interest income, the analysts add. Jefferies has a buy recommendation on the stock and a target price of 991 pence. (michael.susin@wsj.com)


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

(END) Dow Jones Newswires

07-29-22 0314ET

Stocks mentioned in the article
ChangeLast1st jan.
ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC -4.74% 119.5 Delayed Quote.-76.17%
ASTRAZENECA PLC 0.11% 9944 Delayed Quote.14.59%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.6402 Delayed Quote.-10.41%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.116 Delayed Quote.-19.96%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7227 Delayed Quote.-7.30%
CRODA INTERNATIONAL PLC 2.06% 6446 Delayed Quote.-36.30%
EURO / US DOLLAR (EUR/USD) 0.01% 0.9801 Delayed Quote.-13.57%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.81%
GLENCORE PLC -1.77% 478.15 Delayed Quote.27.52%
IMI PLC 2.75% 1119 Delayed Quote.-35.54%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.04% 0.01227 Delayed Quote.-8.53%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 0.00% 94.67 Delayed Quote.-33.56%
INTERTEK GROUP PLC 0.52% 3707 Delayed Quote.-34.16%
JUPITER FUND MANAGEMENT PLC 1.94% 91.85 Delayed Quote.-64.18%
KERRY GROUP PLC 0.78% 90.98 Delayed Quote.-19.04%
NATWEST GROUP PLC 2.17% 225.9 Delayed Quote.-7.06%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.5594 Delayed Quote.-16.40%
RIGHTMOVE PLC 3.34% 482.2 Delayed Quote.-39.35%
SHOE ZONE PLC 1.54% 165 Delayed Quote.50.00%
STANDARD CHARTERED PLC 1.80% 566.8 Delayed Quote.0.00%
UNILEVER PLC -2.73% 3969 Delayed Quote.0.60%
YOUGOV PLC 1.48% 911.31419 Delayed Quote.-43.04%
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