FTSE 100 Set to Fall After Downbeat Asia Trading

FTSE 100 Set to Fall After Downbeat Asia Trading

0643 GMT - The FTSE 100 Index is set to fall about 53 points to 7024 after downbeat trading in Asia, though Wall Street rose Tuesday. Stocks in Hong Kong and Japan are 0.5% and 1% lower respectively. The Dow Jones closed 0.9% higher. "Due today, the U.S. ADP report will give the first hint on how well the U.S. labor market did in September," Ipek Ozkardeskaya of Swissquote says. "The U.S. economy is expected to have added near 430,000 private jobs in September." ([e-mail])

 
Companies News: 

TUI Launches Discounted Share-Placing; Summer, Winter Pipeline Strong

TUI AG said Wednesday that it intends to raise proceeds of around 1.1 billion euros ($1.28 billion) via a discounted share-placing to reduce its debt position.

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Imperial Brands Says FY 2021 Net Revenue Grew Around 1%

Imperial Brands PLC said Wednesday that it expects to report that fiscal 2021 net revenue brew by around 1% on an organic, constant-currency basis, and that this is driven by a continued strong pricing in tobacco.

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PageGroup's 3Q Gross Profit Rose, Sees FY Operating Profit of GBP155 Mln

PageGroup PLC said Wednesday that gross profit for the third quarter of the year rose, adding that full-year operating profit is expected to be around 155 million pounds ($179.8 million).

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TUI 3Q Revenue Rose; Summer and Winter Pipeline Strong

TUI AG said Wednesday that revenue for the third quarter of fiscal 2021 rose significantly when compared with the previous quarter, and added that it intends to raise proceeds of around 1.1 billion euros ($1.28 billion) via a discounted share placing to reduce its debt position.

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Topps Tiles to Report Higher FY 2021 Revenue, Beat Market Profit Forecasts

Topps Tiles PLC said Wednesday that it expects to report a rise in fiscal 2021 group revenue as it benefited from a buoyant home-improvement market in the U.K., and that it now expects to beat full-year profit forecasts.

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Marshall Motor Holdings Raises 2021 Profit Guidance

Marshall Motor Holdings PLC said Wednesday that it is raising its continuing underlying pretax profit guidance for 2021 to no less than 50 million pounds ($68.1 million) from the at-least GBP40 million it guided for in August.

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Lookers FY Underlying Pretax Profit Seen Ahead of Views on Strong 3Q

Lookers PLC said Wednesday that its full-year underlying pretax profit for 2021 is expected to be materially ahead of its previous views as a consequence of above-normalized levels of new car orders.

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Alpha Financial Markets Backs FY Expectations After 1H Net Fee Growth

Alpha Financial Markets Consulting PLC said Wednesday that its performance in the first half of fiscal 2022 was strong, adding that it remains confident in meeting its full-year expectations.

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Tesco Raises FY Guidance, Launches GBP500 Mln Share Buyback

Tesco PLC on Wednesday raised guidance for the fiscal year after a strong first half, and said that it is starting a share-buyback program.

 
Market Talk: 

Tesco 1H Sales Beat Consensus

0633 GMT - Tesco's group sales, which exclude fuel and VAT, rose 2.6% in the six months ended Aug. 28, beating consensus expectations, Third Bridge analyst Ross Hindle says. However, cost inflation pressures are a threat for the U.K.'s biggest grocer. "For now, Tesco is holding on to its Aldi price-match strategy; however, our experts question how sustainable this will be given the U.K's inflationary headwinds and point to a resurgence from the discounters," Hindle says. In addition, the current supply shortages in the U.K. could force retailers to cut back on ranges as the festive period approaches, the analyst says. ([e-mail])

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; [e-mail]

(END) Dow Jones Newswires

10-06-21 0309ET