FTSE 100 Tipped to Fall at Open Despite Gains in Asia

FTSE 100 Tipped to Fall; Asia Trades Higher

0626 GMT - The FTSE 100 is expected to open 17 points lower at 7170, according to CMC Markets, despite an upbeat trading session in Asia after better-than-expected Chinese trade data. Stocks in mainland China, Hong Kong and Japan are all higher. "Markets in Europe look set to give up some of the gains from yesterday when they open later, with the main focus set to be on the latest German ZEW survey for September," CMC's Michael Hewson says. ([e-mail])

 
Companies News: 

McBride FY 2021 Performance Stable; 1H 2022 Seen as Weaker

McBride PLC reported on Tuesday a stable performance for fiscal 2021, marked by a slight rise in pretax profit and a small fall in revenue, but said that its weaker second-half momentum will continue into the first half of its current financial year.

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DS Smith Says Box Volumes Since May 1 Have Grown, Input Costs Are Increasing

DS Smith PLC said Tuesday that in the period since May 1 box volumes have grown strongly when compared with the same period in 2020 and in 2019, and that input costs have continued rising.

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Renew Holdings Forecasts FY 2021 Adjusted Profit Ahead of Market Views

Renew Holdings PLC said Tuesday that it expects its fiscal 2021 results to be materially ahead of market expectations.

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Cairn Energy Proposes $700 Mln Capital Return After India Tax Resolution

Cairn Energy PLC said Tuesday that it plans to return up to $700 million to shareholders following the resolution of a tax dispute with India, and that it expects to complete its acquisition of Egyptian assets in the third quarter.

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TP ICAP 1H Pretax Profit Fell Significantly

TP ICAP Group PLC reported on Tuesday a significant decline in pretax profit for the first half of the year, linked to quiet secondary markets and disruptions caused by Covid-19.

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Safestore Holdings 3Q Revenue Rose

Safestore Holdings PLC said Tuesday that revenue for the third quarter of fiscal 2022 rose, driven by a higher closing occupancy rate.

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Vistry Swung to 1H Pretax Profit; Raises Full-Year Forecast

Vistry Group PLC said Tuesday that it swung to a pretax profit for the first half of 2021 and raised its expectations for the full year.

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DP Eurasia Swung to 1H Pretax Profit, Raises Full-Year Guidance

DP Eurasia NV said Tuesday that it swung to pretax profit in the first half of the year on a jump in revenue, and raised its guidance for the full year.

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Michelmersh 1H Pretax Profit Rose

Michelmersh Brick Holdings PLC reported Tuesday a rise in pretax profit for the first half of 2021, and said it has entered the second half with a strong and balanced order book.

 
Market Talk: 

Rio Tinto Might Miss 2021 Iron-Ore Shipment Goal

0303 GMT - Rio Tinto is at risk of missing its 2021 iron-ore shipment guidance, says UBS. In July, the miner said it expected full-year shipments at the low end of its earlier 325 million-340 million ton range but to achieve this, it needs to ship roughly 85 million tons a quarter in its fiscal 2H. "Rio is currently on track to ship circa 81 million tons in 3Q and as a result we see 5 million-10 million ton downside risk to 2021 guidance," says the bank. Rio Tinto isn't alone in achieving weaker-than-anticipated output, says UBS, which reckons Covid-related restrictions are weighing on production. Vale also risks missing 2021 guidance, while BHP's 1Q 2022 output appears weaker on-year, UBS says. ([e-mail]; @RhiannonHoyle)

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

(END) Dow Jones Newswires

09-07-21 0312ET