FTSE 100 Seen Opening Little Changed as US Inflation Data Eyed

0648 GMT - The FTSE 100 is expected to open little changed as investors react to the latest U.K. labor market data and await the release of August's U.S. inflation print. The London index of blue-chip stocks is seen opening down 2 points, according to IG. The U.K. unemployment rate fell to 3.6% in the three months to July from 3.8% in the previous quarter, but the number of people in employment grew by just 40,000, the Office for National Statistics reported Tuesday. The U.S. inflation data are due at 1230 GMT. The data have the "biggest influence on Federal Reserve expectations since the Fed declared war against inflation last year," Swissquote Bank analyst Ipek Ozkardeskaya writes. (renae.dyer@wsj.com) 


 
Companies News:

Ocado Group Warns of Lower FY 2022 Sales as Inflation Hits Consumers

Ocado Group PLC said Tuesday that revenue increased in the third quarter of fiscal 2022, but that it expects to see a decline in full-year sales as inflation hits consumers' spending ability.

---

Aveva Close to GBP30/Share Takeover by Schneider Electric, Sky Reports

Aveva Group PLC is close to agreeing to a 30 pound ($35.05) a share takeover by French energy management and automation group Schneider Electric SE, Sky News reports, citing unnamed sources.

---

Fresnillo Completes Construction for Juanicipio Grid Tie In; Sees Operations Starting End of October

Fresnillo PLC said Tuesday that all construction activities related to final tie-in to the electrical grid for Juanicipio in Mexico have been completed and that it expects the start of operations by the end of October.

---

Abrdn Sells GBP262 Mln Shareholding in HDFC Life

Abrdn PLC said Tuesday that it has sold 43 million shares in HDFC Life Insurance Co. for 262 million pounds ($306.1 million), with the proceeds to be used for further strengthen its capital resources, support investment and to continue to return capital in excess.

---

Team17 1H Pretax Profit Fell on Higher Costs; Revenue Rose

Team17 Group PLC said Tuesday that its first-half pretax profit fell 20% on higher administration costs and sales, though revenue and adjusted earnings rose.

---

Trustpilot 1H Pretax Loss Narrowed, Revenue Rose on Good Foreign-Exchange Rates

Trustpilot AS said Tuesday that its first-half pretax loss narrowed and revenue rose on favorable foreign-exchange rates.

---

JTC 1H Pretax Profit Fell as Costs Increased

JTC PLC said Tuesday that pretax profit for the first half of 2022 fell as costs increased as it worked to complete the integration of seven acquisitions made last year.

---

Property Franchise 1H Pretax Profit, Revenue Rose; Backs 2022 Outlook

Property Franchise Group PLC said Tuesday that its first-half pretax profit and revenue rose on contributions from acquisitions, and that it is confident for the full-year.

---

Kape Technologies to Raise Up to $200 Mln to Fund Acquisitions

Kape Technologies PLC said Tuesday that it is planning to raise up to $200 million via an equity issue and will use the money toward acquisitions.

---

Mattioli Woods FY 2022 Pretax Profit Rose, Increases Dividend

Mattioli Woods PLC said Tuesday that pretax profit for fiscal 2022 rose, backed by recent acquisition contributions, and that it has increased its dividend payout as it continues to perform in line with views.

---

Fevertree 1H Operating Profit Fell on Higher Costs

Fevertree Drinks PLC reported on Tuesday a significant decline in operating profit for the first half of 2022 after booking higher energy and freight costs. 


 
Market Talk:

Rio Tinto's Iron-Ore Export Target in Spotlight After Derailment

0112 GMT - Rio Tinto will be working to smooth the impact from a train derailment at its iron-ore operations in Western Australia that resulted in a week-long disruption to rail haulage. The derailment occurred on Sept. 3 on Rio Tinto's Gudai-Darri rail line, with 20 wagons derailing at the rear of an autonomous train. A Rio Tinto spokesman says the line is now operational again following recovery work at the site. Any impact to production will be recorded in the company's next quarterly operational report, due next month. Rio Tinto, which is ramping up production at the new Gudai-Darri mine, has previously forecast annual Pilbara iron-ore shipments of 320 million metric tons to 335 million metric tons in 2022, versus 321.6 million metric tons last year. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)


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

(END) Dow Jones Newswires

09-13-22 0307ET