FTSE 100 Seen Opening Little Changed

0649 GMT - The FTSE 100 is expected to open little changed on the last day of the month and first quarter after four consecutive days of gains following an easing in banking sector worries. IG futures data show the London index of blue-chip stocks opening flat after closing 56 points higher on Thursday. Data from the Office for National Statistics Friday showed the U.K. economy grew 0.1% in the fourth quarter compared to the previous quarter, up from a previous estimate of flat growth. However, Nationwide also reported Friday that U.K. house prices fell 3.1% on year in March, the biggest annual decline since July 2009. (renae.dyer@wsj.com) 


 
Companies News:

Rio Tinto and First Quantum to Form JV for La Granja Copper Project in Peru

Rio Tinto PLC said Friday that it will form a joint venture with the Canadian First Quantum Minerals Ltd. to develop the La Granja copper project in Peru.

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Rolls-Royce Names Helen McCabe Chief Finance Officer

Rolls-Royce Holdings PLC said Friday that Helen McCabe will join the board as chief financial officer later in the year.

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Vanquis Banking 2022 Pretax Profit Rose on Loan Book Growth

Vanquis Banking Group PLC on Friday reported a rise in 2022 pretax profit as it saw strong loan book growth across its businesses and said it has seen positive momentum from the fourth quarter continue into 2023.

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Abingdon Health 1H Pretax Loss Narrowed on Lower Costs

Abingdon Health PLC said Friday that its pretax loss narrowed for the first half of fiscal 2023 after booking lower costs, and that it expects revenue in the second half to be significantly ahead of that seen in the first half.

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James Halstead First Half Pretax Profit Fell on Higher Costs, But Sees Pressures Easing

James Halstead PLC said Friday that pretax profit for the first half of fiscal 2023 fell on the back of higher expenses, despite reaching record revenue levels, but expects inflationary pressures and logistic costs to improve.

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NCC Group Cuts Fiscal 2023 Adjusted Operating Profit Guidance

NCC Group PLC on Friday lowered its adjusted operating profit guidance for fiscal 2023 citing the further deterioration of the macro-economic and market environment on its businesses. 


 
Market Talk:

UK Isn't Deploying Drax, Lynemouth Carbon Capture Projects Now

1552 ET - The UK government announced eight carbon capture storage and utilization projects today, but submissions from Drax and Lynemouth Power weren't among them. The UK said it's concluded the power bioenergy with carbon capture, use and storage project assessment process, and Drax's and Lynemouth's projects met minimum criteria for deliverability by 2027 but won't be selected for deployment in the first stage, or Track-1, of the efforts. Drax said today it's in formal discussions with the UK government on large-scale power Beccs. The UK government says it will be in touch with projects included in the Beccs assessment process to provide more feedback and let them know about next steps and that "Track-1 is not the extent of our ambition." (jonathan.vuocolo@wsj.com; @jonvuocolo)

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BP, Eni Lead UK Carbon Capture Projects

1550 ET - The UK said it chose eight carbon capture storage and utilization projects for possible funding across two areas, part of the Power Up Britain initiative intended to scale up the low-carbon industry. The UK selected three projects for the East Coast Cluster located in the Teesside and Humber areas in north England. BP is leading the East Coast Cluster's Northern Endurance project, and Equinor, National Grid, Shell and Total are also partners. For the UK's HyNet Cluster in northwest England and north Wales, five projects were selected. Eni says it leads HyNet together with Progressive Energy, Cadent, CF Fertilisers, Essar, Hanson and Ineos Group's Inovyn, and will store CO2 in its exhausted UK hydrocarbon fields. (jonathan.vuocolo@wsj.com; @jonvuocolo)


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

(END) Dow Jones Newswires

03-31-23 0307ET