FTSE 100 Seen Falling; Asia, US Stocks Gain
0726 GMT - The FTSE 100 is expected to open 30 points lower at 7160, according to CMC Markets, despite upbeat trading in Asia and on Wall Street. Markets in mainland China, Hong Kong and Japan rise and the Dow closed 2% higher Wednesday. The price of a barrel of Brent crude gains 3.9% to about $115. "As we look ahead to today's European open, which looks set to be a slightly softer one after yesterday's rebound, the focus will still be on events in Ukraine, but markets will also be eyeing today's European Central Bank rate decision, as well as U.S. February CPI," CMC says. (philip.waller@wsj.com)
Companies News:
DS Smith Had Like-for-Like 3Q Volume Growth Despite Higher Costs
DS Smith PLC said Thursday that it continued to benefit from like-for-like volume growth in the third quarter of fiscal 2022 despite increasing input costs and that its expectations for the financial year remain unchanged.
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Boohoo Group Expects FY 2022 Adj Ebitda in Line With Market Views
Boohoo Group PLC said Thursday that it expects adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2022 to be in line with market expectations.
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Capita PLC Swung to 2021 Pretax Profit, Sees Lower Profits in 2022
Capita PLC reported on Thursday a swing to pretax profit in 2021, backed by stable revenue and cost savings that offset contract losses and general cost increases, but said it expects 2022 profit margins to narrow.
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ITV Appoints Kingfisher's Andrew Cosslett as Its New Chairman
ITV PLC said Thursday that it has appointed Kingfisher PLC's Andrew Cosslett as its new chairman starting September, replacing Peter Bazalgette who is stepping down from the role after six years.
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Spirax-Sarco Engineering 2021 Pretax Profit, Revenue Rose
Spirax-Sarco Engineering PLC said Thursday that pretax profit increased 31% in 2021 on higher revenue, and it expects further sales growth in 2022.
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Northbridge Industrial Services to Resume Dividends
Northbridge Industrial Services PLC said Thursday that it will reinstate dividends and that the positive start to 2022 has continued.
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Savills 2021 Pretax Profit More Than Doubled on Pandemic Recovery
Savills PLC said Thursday that 2021 pretax profit more than doubled, driven by a significant recovery from the coronavirus pandemic.
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Brooks Macdonald's Funds Under Management Increased in 1H
Brooks Macdonald Group PLC reported on Thursday a decline in pretax profit for the first half of fiscal 2022 and a rise in funds under management, as it swung to positive net flows on improved client retention.
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Purplebricks CEO to Step Down; COO Named Successor
Purplebricks Group PLC said Thursday that Chief Executive Vic Darvey will step down at the end of March, and that Chief Operating Officer Helena Marston will assume the CEO role effective April 4.
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Just Group Swung to 2021 Pretax Loss on Portfolio Sale; Resumes Dividend
Just Group PLC on Friday reported a swing to pretax loss in 2021 due to economic losses related to the sale of its portfolio, but announced new guidance and resumed its dividend payout.
Market Talk:
Crude Could Hit in $240/Bbl if More Countries Join US Ban on Russian Oil, Rystad Says
0401 GMT - Oil prices could hit $240/bbl this summer in a worst-case scenario if more Western countries join the U.S. sanctions on Russia's oil exports, Rystad Energy says. "This is the largest energy crisis in decades and the impact on the world's most important commodity is going to be unprecedented," the energy consulting company says. It says that if the 4.3 million barrels/day that Russia exports to the West are halted by April, and assuming China and India imports remain unchanged, Brent would need to rise to $240 for demand to be sufficiently reduced to balance the market. Front-month Brent is 2.6% higher at $114.24/bbl; WTI gains 1.6% to $110.53. (yongchang.chin@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
03-10-22 0311ET
