FTSE 100 Seen Recovering Some Ground After Losses
0642 GMT - The FTSE 100 is expected to claw back some ground in opening trade following two consecutive days of declines after Tuesday's stronger-than-expected U.S. inflation data fueled expectations that the Federal Reserve will deliver further aggressive interest-rate rises. IG futures data show the London index opening up 21 points. It seems unlikely the Fed will raise rates by more than 75 basis points "despite the collective freakout of the past couple of days, with the positive finish in the U.S. last night expected to see European markets open slightly higher," CMC Markets analyst Michael Hewson writes. U.S. retail sales data at 1230 GMT could reinforce this "hawkish narrative" if it produces another strong number, he says. (renae.dyer@wsj.com)
Companies News:
Shell Names Wael Sawan as Next CEO
Shell PLC said Thursday that it has appointed Wael Sawan as its next chief executive, effective Jan. 1.
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Wickes 1H Pretax Profit Slipped on Costs; Revenue Rose
Wickes Group PLC said Thursday that its first-half pretax profit slipped on increased costs, though revenue rose 1.3%.
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THG 1H Pretax Loss Widened on Higher Costs, Despite Revenue Increase
THG PLC reported on Thursday a widened pretax loss for the first half of 2022 after booking higher costs and despite a record revenue increase.
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Kier FY 2022 Pretax Profit Rose Despite Revenue Slip; Order Book Increased
Kier Group PLC said Thursday that its fiscal 2022 pretax profit significantly rose on a strong operational performance and despite a slight slip in revenue, and that its order book increased on year.
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Open Orphan Helping Irish Authorities Investigate Insider-Dealing Allegation
Open Orphan PLC said Thursday that it has been made aware by Irish authorities of potential insider dealing in its shares by an unconnected private individual in 2020, and that the company is helping them with their inquires.
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Trustpilot Appoints Zillah Byng-Thorne as Deputy Chairman
Trustpilot AS said Thursday that it has appointed Zillah Byng-Thorne as an independent nonexecutive director and deputy chairman of the company from Oct. 1.
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Brooks Macdonald FY 2022 Pretax Profit Rose, Raises Dividend
Brooks Macdonald Group PLC reported a pretax profit increase for fiscal 2022 despite a challenging market backdrop and increased its dividend payout.
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Trainline Sees 1H Ticket Sales, Revenue Higher on Covid-19 Recovery
Trainline PLC said in an update Thursday that first-half net ticket sales and revenue rose significantly on year after a strong post-Covid-19 industry recovery across Europe.
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M.J. Gleeson FY 2022 Pretax Profit, Revenue Rose on Strong Demand
M.J. Gleeson PLC said Thursday that fiscal 2022 pretax profit and revenue both rose on strong demand and selling prices, and that it is confident of further profit in fiscal 2023.
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IG Group 1Q Revenue Rose; Remains Confident About Medium-Term Outlook
IG Group Holdings PLC said Thursday that revenue increased in the first quarter of fiscal 2023, positioning the group well for the rest of the year.
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Hilton Food 1H Pretax Profit Fell on Costs; Sees 2022 Profit Below Expectations
Hilton Food Group PLC said Thursday that said it expects profit for the full year to miss expectations after first-half pretax profit fell on higher costs and despite an increase in revenue.
Market Talk:
Rio Tinto Seen Paring Australian Iron-Ore Output as Guinea Project Developed
0640 GMT - Rio Tinto may prioritize spending on its Simandou iron-ore project in Guinea over replacement capex for its Australian operations, Liberum analysts Ben Davis, Tom Price and Yuen Low say in a note. While Rio Tinto Wednesday agreed to form a JV with China Baowu to develop one new Australian operation, the analysts expect an overall contraction in Pilbara production in the long run as Simandou is developed. That's because "mining in the Pilbara is not getting any easier" thanks to increased haulage distances and ore hardness, among other factors, while Rio Tinto is also grappling with unresolved community issues following the Juukan Gorge disaster, the analysts say. "Simandou will proceed," they say. "If Rio Tinto is serious about value-over-volume, an appropriate price-supporting strategy is to slow growth at the Pilbara assets."(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
09-15-22 0312ET
