FTSE 100 Tipped to Rise After Upbeat Asia, US Trading
0734 GMT - The FTSE 100 is expected to open 80 points higher at 7250, according to CMC Markets, after upbeat trading in Asia and on Wall Street. Markets in China, Hong Kong and Japan gain and the Dow Jones rose 1% after the U.S. Fed accelerated its tapering program to $30 billion a month, starting January as expected, while adopting a slightly more hawkish outlook toward rising inflation, CMC says. "As such today's European market session looks set to be a strong one, and with the Fed meeting now in the rear-view mirror, all attention now turns to today's European Central Bank and Bank of England decisions," CMC analyst Michael Hewson says. (philip.waller@wsj.com)
Companies News:
United Talent Agency Acquires MediaLink for $125 Million
United Talent Agency said it has acquired MediaLink, a marketing and media consulting firm that is owned by Ascential PLC, for $125 million, as the Hollywood talent firm seeks to ramp up its marketing practice.
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Aviva to Increase, Extend Share Buyback to GBP1.0 Bln
Aviva PLC said Thursday that it will increase and extend its share buyback program to 1.0 billion pounds ($1.33 billion).
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Schroders Is in Talks to Buy Significant Stake in Greencoat Capital
Schroders PLC said Thursday that it is in advanced talks to buy a significant stake in Greencoat Capital, but cautioned that there is no certainty any deal will be struck.
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Boohoo Downgrades FY Guidance on Covid-19 Uncertainty
Boohoo Group PLC said Thursday that it has downgraded its guidance on full-year net sales growth and its adjusted Ebitda margin due to increased consumer uncertainty related to the new Covid-19 variant.
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Gym Group Says It Is Performing in Line With Market Views for 2021
Gym Group PLC said Thursday that it is performing in line with full-year market expectations in terms of its key profit measure of adjusted Ebitda less normalized rent.
Market Talk:
Miners of Higher-Grade Iron Ore Appeal Most to Morgan Stanley
0435 GMT - Among Australian iron-ore stocks, Morgan Stanley thinks investors would be wise to back producers of high-grade material. It favors Rio Tinto and Deterra Royalties over Fortescue Metals and Mineral Resources, partly because it expects China's emission controls to support a medium-term shift to higher-grade products. Also, Morgan Stanley says Rio Tinto's shares have "corrected significantly following several production downgrades and capex increases, that are now well reflected in the stock price." Rio Tinto's stock is now trading on an enterprise value-to-Ebitda multiple of 4.5 times versus a three-year history of 5.1 times. (david.winning@wsj.com; @dwinningWSJ)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
12-16-21 0309ET
