FTSE 100 Poised to Edge Higher; Asia Falls, US Rises
0642 GMT - The FTSE 100 looks set to edge four points higher to 7666, according to IG futures data, after downbeat trading in Asia, though Wall Street rose. Most major markets in Asia are lower, with stocks in Australia, mainland China and Hong Kong dropping about 0.3% and shares in Japan and South Korea falling more than 1%. The Dow closed Wednesday 0.2% higher, though the tech-heavy Nasdaq fell. "The next few days will be key for whether we could see another 25 basis-point rate rise from the Fed in May," CMC Markets analyst Michael Hewson writes. "A soft job report tomorrow, along with a weak CPI print next week, could call time on the prospect of another 25bps hike at the next meeting." (philip.waller@wsj.com)
Companies News:
KKR Nears Deal for Large Stake in WPP-Backed FGS Global, FT Reports
Private equity group KKR & Co. is getting close to a deal to buy a large stake in WPP PLC-backed financial communications company FGS Global, valuing it at about $1.4 billion, the Financial Times reports, citing unnamed sources.
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De La Rue Names Charles Andrews as Interim CFO
De La Rue PLC said Thursday that it has appointed Charles Andrews as interim chief financial officer with effect from April 11.
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Shell Sees 1Q Integrated Gas Production Rising, With Higher LNG Volumes
Shell PLC on Thursday forecast improved production from its integrated gas-and-oil products division in the first quarter of 2023, with higher liquid natural gas liquefaction volumes.
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Motorpoint Sees FY 2023 Break-Even Pretax Profit, Revenue to Reach Record High
Motorpoint Group PLC said Thursday that it expects pretax profit for fiscal 2023 to be broadly break even, while revenue is anticipated to reach record highs.
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Helical Says It Is Well-Placed to Capitalize on Office-Space Trends
Helical PLC said Thursday that it was well-positioned to capitalize on the continuing market dislocation and structural trends affecting the office sector.
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Robert Walters 1Q Gross Profit Rose Slightly Despite Tough Market Terms, Comparables
Robert Walters PLC said Thursday that its gross profits rose slightly in the first quarter of 2023, despite difficult macroeconomic conditions and tough comparables.
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Fulcrum Utility Sees FY 2023 Meeting Guidance; Will Exit Smart Metering
Fulcrum Utility Services Ltd. said Thursday that it expects it full-year results to meet prior guidance, and that it will exit the smart-metering business.
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EDF's Acquisition of GE's Nuclear Steam Power Business Faces Probe by UK Regulator
The U.K. Competition and Markets Authority has launched a merger inquiry into the acquisition by Electricite de France SA of General Electric Co.'s nuclear steam power business for competition concerns.
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Gear4Music Sees FY 2023 Earnings Lower Than Previously Forecast on Weaker Demand, Economic Conditions
Gear4Music (Holdings) PLC said Thursday that it expects to report that earnings for fiscal 2023 were lower than previously forecast following weaker consumer demand during February and March and generally challenging economic conditions.
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Xpediator Agrees to GBP62.3 Mln Cogels Consortium Takeover
Xpediator PLC said Thursday that it has agreed to a 62.3 million-pound ($77.6 million) takeover by DLM Bidco Ltd., a new company created by a consortium that includes its largest shareholder Cogels Investments.
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Barryroe Offshore to Raise Up to EUR20 Mln via Placing, Open Offer
Barryroe Offshore Energy PLC said Thursday it will raise up to 20 million euros ($21.8 million) via a placing and an open offer and that it will use the proceeds to meet working capital requirements and develop the offshore Barryroe project over the next two years.
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SigmaRoc Says Sweden Appeals Compensation Award in Dispute Over Land-Use Restrictions
SigmaRoc PLC said Thursday that the Swedish state has appealed against a decision to award compensation to the company amid a dispute over land-use restrictions.
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Real Good Sees FY2024 Improvement, Secures GBP550,000 Loan
Real Good Food PLC said Thursday that it expects fiscal 2024 performance to improve, on the back of its reform program, and that it has secured a further loan.
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Tyman CEO Jo Hallas Steps Down by Mutual Agreement With Board
Tyman PLC said Thursday that its Chief Executive Officer Jo Hallas will step down from today after mutual agreement with the board.
Market Talk:
Rio Tinto's Copper, Aluminum Units Set to Step Up
0224 GMT - The earnings contribution from Rio Tinto's operations outside of its lucrative Australian iron-ore business is likely to rise sharply in the next three years, and should by 2025 more than offset softening iron-ore earnings, Citi analyst Paul McTaggart says in a note. Underlying earnings from Rio Tinto's businesses beyond its Pilbara iron-ore division, which include copper and aluminum operations, were "a low" US$1.3 billion in 2H 2022, he says. Citi expects that will rise to roughly US$4 billion in 2H 2025. "While a Pilbara turnaround will be ongoing, we won't see it in RIO earnings contribution given declining iron-ore prices forecast," McTaggart says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
04-06-23 0321ET
