FTSE 100 Seen Opening Higher Following Asia Gains
0639 GMT - The FTSE 100 is seen opening slightly higher following gains in Asia with IG futures data pointing to an 8 point rise. "Traders are a lot more optimistic to begin the week as markets recorded a lot better weekly progress last week and broke their spell of weekly losses," AvaTrade analyst Naeem Aslam writes. Investors are gearing up for the latest U.S. inflation data on Tuesday, which could support sentiment if it show an easing of price pressures, he says. Meanwhile, data on Monday showed the U.K. economy grew 0.2% on month in July, versus the 0.3% rise expected in a WSJ survey of analysts and following a 0.6% decline in June. (renae.dyer@wsj.com)
Companies News:
Serco CEO Rupert Soames to Retire by September 2023; Mark Irwin Named Successor
Serco Group PLC said Monday that Chief Executive Rupert Soames intends to retire from the company by September 2023, and that Mark Irwin has been named his successor.
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Beeks Financial Cloud Says FY 2022 Has Been in Line With Market Views
Beeks Financial Cloud Group PLC said Monday that trading performance for fiscal 2022 has been in line with market expectations and that it expects to grow further in fiscal 2023.
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DFS Furniture Nonexecutive Chairman Ian Durant to Retire
DFS Furniture PLC said Monday that Nonexecutive Chairman Ian Durant will retire from the company on Nov. 4 during the conclusion of the annual general meeting.
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UK Oil & Gas Raises GBP3 Mln Via Discounted Placing; Guzyal Mukhametzhanova Named CFO
UK Oil & Gas PLC said Monday that it has raised gross proceeds of 3 million pounds ($3.5 million) via a discounted share placing and that Guzyal Mukhametzhanova has been named the company's new chief financial officer.
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Grainger FY 2022 To-Date Rental Growth Rose, Occupancy High
Grainger PLC said Monday that like-for-like rental growth for the first 11 months of fiscal year 2022 rose 4.5%, and occupancy levels remained high.
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Accsys Technologies Five-Month Wood Revenue Stable, Supported by Strong Demand
Accsys Technologies PLC said Monday that it has benefited from continuing strong demand and stable wood revenue in the first five months of fiscal 2023.
Market Talk:
Ten-Year Gilt Yield Expected to Rise Toward 4% by Mid-2023
0624 GMT - Ten-year U.K. gilt yields could reach 3.75%-4% by mid-2023 as energy bailouts mean higher rates by the Bank of England for longer, Citi's rates strategist team says in a note. At the next meeting, they expect the BoE to raise the bank rate by 50 basis points from the current 1.75%, and to go ahead with quantitative tightening, they add. On Friday, the 10-year gilt yield closed at 3.089%, according to Tradeweb. (emese.bartha@wsj.com)
Contact: London NewsPlus, Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
09-12-22 0305ET
