FTSE 100 Seen Opening Little Changed Ahead of U.S. Inflation Data, Fed Minutes

FTSE 100 Seen Opening Little Changed Ahead of US Inflation Data, Fed Minutes

0629 GMT - The FTSE 100 is expected to open little changed, according to IG, as investors await the release of U.S. inflation data and the Federal Reserve's latest meeting minutes. The inflation data will be published at 1230 GMT and the Fed's minutes are at 1800 GMT. "While today's consumer price index numbers are set to keep the pot boiling on the likelihood of a pause or a further 25 basis points rate hike at the start of May, tonight's Fed minutes could also offer a useful insight into the discussions at the previous Fed meeting, when the U.S. banking system was undergoing significant turbulence due to the collapse of Silicon Valley and Signature Bank," CMC Markets analyst Michael Hewson writes. ([e-mail])

 
Companies News: 

Hikma Pharmaceuticals Appoints Riad Mishlawi CEO

Hikma Pharmaceuticals PLC said Wednesday that Riad Mishlawi has been appointed chief executive officer effective Sept. 1 and that Said Darwazah will step down as acting CEO and return to his role as executive chairman.

---

LBG Media 2022 Earnings Fell Amid Tough Environment; CFO to Retire

LBG Media PLC said Wednesday that earnings fell in 2022 as the tough economic environment hit advertising spending, and that Chief Financial Officer Tim Croston has decided to retire.

---

Unite Group Sees Strong Sales for New Academic Year, Backs Growth Targets

Unite Group PLC said Wednesday that it has recorded strong advance sales for the upcoming academic year and is confident in meeting rental growth targets.

---

Everyman 2022 Pretax Loss Narrowed as Cinema Recovers

Everyman Media Group PLC on Wednesday said its 2022 pretax loss narrowed as audiences returned to cinemas and that current trading has been in line with expectations.

---

Sosandar to Report Swing to FY 2023 Pretax Profit

Sosandar PLC said Wednesday that it expects to report a swing to a pretax profit for fiscal 2023 and that revenue rose.

---

Oxford Cannabinoid Names Clarissa Sowemimo-Coker As Permanent CEO

Oxford Cannabinoid Technologies Holdings PLC on Wednesday confirmed the permanent appointment of Clarissa Sowemimo-Coker as its chief executive officer.

---

Marks Electrical FY 2023 Earnings Expected to Rise on Year on Market Share Gains

Marks Electrical Group PLC said Wednesday that it expects adjusted earnings and revenue to rise on year in fiscal 2023 as it made market share gains in the major domestic appliance and consumer electronics markets and booked strong performance across other product categories.

 
Market Talk: 

Jefferies Shifts Oil-And-Gas Ratings on Value, Growth, Risk Concerns

0611 GMT - International oil-and-gas exploration and production stock performance isn't just driven by simple oil price leverage, but by fundamental asset quality and balance street strength too, Jefferies says, as it makes a raft of changes to its ratings. The U.S. bank cuts 2023 Brent oil price forecasts 4% to $93.75 a barrel, and rolls forward net asset value pricing a year, supportive for stocks with organic growth development assets, analysts say in a research note. "Softer near-term commodity price assumptions, rolled forward NAV dates and our usual detailed bottom-up asset analysis leads to some stark stock choices," they say. Jefferies raises Aker BP to buy from hold, reinstates Serica Energy at buy, downgrades Energean, Diversified Energy and EnQuest to hold and downgrades Tullow Oil to underperform. ([e-mail])

Specialty Reinsurers' Fundamentals Seen Unaffected by 1Q Events

0607 GMT - First-quarter events aren't expected to have threatened specialty reinsurers' fundamentals, RBC Capital Markets says in a note. "Capital levels are still strong and the hard reinsurance market continues to underpin a favorable outlook from here," analyst Derald Goh says. Asset exposures are expected to be more insulated from the broader market turmoil, but investors will still look for reassurances from companies, he adds. Beazley and Lancashire Holdings look to have been overly discounted and now provide an attractive entry point, Goh says. RBC's top pick is Beazley for its strong growth outlook despite lower amounts of deployable capital to support a higher target solvency. It retains outperform ratings--in order of preference order after the FTSE 100-listed group--on Lancashire Holdings, Conduit Holdings, France's Scor and Germany's Hannover Reuck. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

04-12-23 0254ET