FTSE 100 Seen Opening Lower as US Rate Rise Bets Weigh

0638 GMT - The FTSE 100 is seen opening lower following declines in U.S. and Asia stocks as traders bet on the Federal Reserve delivering further aggressive interest-rate rises. IG futures data show the London index opening down 40 points. "Improvements in US weekly jobless claims data, along with this week's hotter than expected core inflation numbers appear to be prompting investors to hedge their bets over the prospect that the Federal Reserve might be tempted to raise rates next week by 100 basis points," CMC Markets analyst Michael Hewson writes. Meanwhile, the Office for National Statistics reports that U.K. retail sales fell 1.6% on month in August, worse than the 1.4% drop expected by analysts in a WSJ survey. (renae.dyer@wsj.com)


 
Companies News: 

Jupiter Fund Management's New CEO Plans Business Review, FT Reports

Jupiter Fund Management PLC's incoming chief executive, Matthew Beesley, is planning a review of the business aimed at cutting costs and returning it to growth, the Financial Times reports, citing unnamed sources.

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Capita to Sell Pay360 for GBP150 Mln

Capita PLC said Friday that it is selling Pay360 Ltd. to The Access Group in a deal that values the business at 150 million pounds ($172 million), after a review of the business.

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Drumz 1H Pretax Loss Narrowed; Seeks Potential Acquisitions

Drumz PLC said Friday that pretax loss for the first half of 2022 narrowed amid higher revenue and lower losses on investments.


 
Market Talk: 

BOE Expected to Increase Interest Rates by 50 Basis Points, Pantheon Says

0626 GMT - The Bank of England is likely to hike interest rates by 50 basis points at its Sept. 22 meeting, less than the 75-basis-points rise anticipated by markets, Pantheon Macroeconomics' chief U.K. economist Samuel Tombs says in a note. Recent economic data suggest officials don't need to rush to hike rates, he says. Economic growth is lower than expected and the inflation outlook has improved somewhat due to the government's plan to freeze consumer utility bills, Tombs says. "The decision to hike bank rate sharply in August was driven by policymakers' concerns that the current period of above-target inflation will have adverse second-round effects on wages and inflation expectations," he says. "Those fears surely will have been attenuated." (xavier.fontdegloria@wsj.com)


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

(END) Dow Jones Newswires

09-16-22 0259ET