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FTSE 100 Set to Fall as Inflation Fears Persist

06/30/2022 | 03:11am EDT

FTSE 100 Set to Fall After Mixed Asia Trading

0625 GMT - The FTSE 100 Index looks set to open 95 points lower at 7217, according to IG futures data, after mixed trading in Asia, though Wall Street closed higher. Markets in Australia, Hong Kong and Japan are all in negative territory, but mainland China stocks make gains and the Dow rose 0.3% Wednesday. Brent crude advances 0.3% to $112.79 a barrel. "U.S. personal spending data and German retail sales for May might bring more evidence that higher prices are taking their toll on consumers' willingness to spend and in turn stoke markets' recession fears," Danske Bank analysts say in a note. (philip.waller@wsj.com)

 
Companies News: 

Smiths Secures Uninsured Pension Liabilities via GBP640 Mln Deal With Rothesay Life

Smiths Group PLC said Thursday that it has completed a deal to secure its remaining uninsured pension liabilities through a 640 million pound ($775.7 million) bulk annuity buy-in with Rothesay Life PLC, a U.K. pensions specialist.

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Frasers Group Buys 28.7% Holding in MySale for Undisclosed Sum

Frasers Group PLC said Thursday that it has bought a 28.7% shareholding in Australian-based fashion marketplace MySale PLC.

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WPP to Buy Australian Marketing Technology Services Agency

WPP PLC said Thursday that it has agreed to acquire Bower House Digital, a marketing technology services agency located in Australia, for an undisclosed sum.

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Bunzl Upgrades 2022 Views on Organic Revenue Growth, Acquisitions

Bunzl PLC said Thursday that it has upgraded its guidance for the full year and currently expects robust revenue growth and operating margins to be slightly higher than historical levels, driven by acquisitions and organic revenue growth.

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IAG Converts 14 A320neo Family Options Into Firm Orders

British Airways owner International Consolidated Airlines Group SA said Thursday that it has converted 14 A320neo family aircraft options into firm orders for 11 A320neos and three A321neos.

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M&C Saatchi Sees 2022 Profit in Line With Guidance

M&C Saatchi PLC said Thursday that its headline profit before tax for 2022 is in line with internal expectations of around 31 million pounds ($37.6 million).

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MyHealthChecked Sees Better-Than-Expected 1H Performance on Strong Momentum

MyHealthChecked PLC said Thursday that it has started 2022 in a strong position in terms of revenue, customer service, and delivery after positive momentum in 2021.

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Virgin Money to Buy Back up to GBP75 Mln in Shares

Virgin Money UK PLC said Thursday that it has launched a buyback program to repurchase up to 75 million pounds ($90.9 million) of its shares.

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GB Group Shareholder AG Acuant Sells 5 Mln Shares at 400 Pence Each

Numis Securities Ltd. said Thursday that it has now sold 5 million ordinary shares of identity-data-intelligence specialist GB Group PLC at 400 pence (484.84 U.S. cents) each.

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Inland Homes 1H Pretax Loss Widened on Contract Costs, Reduced Net Debt

Inland Homes PLC said on Thursday that its pretax loss widened on higher costs, but it reduced net debt.

 
Market Talk: 

Central Banks Will Do All Necessary to Bring Inflation Back to Target, Pictet WM Says

0632 GMT - There should be no doubt that the Federal Reserve, the European Central Bank and the Bank of England are willing to do whatever it takes to bring inflation back down to target even if this means going through a lot of pain, Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management, says. The underlying policy trade-off should be equally clear by now: The more successful the ECB will be in fighting financial fragmentation, the higher policy rates can be raised, he writes in a note, after attending the ECB's forum in Sintra, Portugal, this week. (emese.bartha@wsj.com)


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

(END) Dow Jones Newswires

06-30-22 0310ET

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