FTSE 100 Tipped to Rise After Upbeat Asia, US Trading
0724 GMT - The FTSE 100 Index is expected to open 90 points higher at 7297, according to CMC Markets, after mostly upbeat trading in Asia and on Wall Street. Markets in mainland China, Japan and elsewhere are higher, though Hong Kong's Hang Seng drops 0.7%. The Dow closed 0.3% ahead. Brent crude gains 2.6% to $97.87 a barrel. "The late rebound in U.S. markets yesterday is expected to see markets in Europe open modestly higher this morning," CMC says. "However, upside is still likely to remain limited while the fighting in Ukraine continues and uncertainty over future sanctions remains," it says. (philip.waller@wsj.com)
Companies News:
Evraz Confirms Potential Exposure to Sanctions Against Russia
Evraz PLC said Friday that it is exposed to the effects of policies adopted by the Russian government, and that the worsening situation in Ukraine increases the risk of sanctions which could affect its operations.
---
Rightmove 2021 Profit Rebounded to Above Pre-Pandemic Levels Amid Housing Boom
Rightmove PLC said Friday that pretax profit for 2021 rose above pre-pandemic levels on the back a housing boom driving up revenue per advertiser.
---
Frasers Group Acquires Troubled Studio Retail's Operating Business for GBP26.8 Mln
Frasers Group PLC said Friday it has acquired digital retailer Studio Retail Group PLC's main operating subsidiary Studio Retail Ltd. and certain other assets for a consideration of 26.8 million pounds ($35.9 million).
---
Pearson 2021 Pretax Profit Fell; To Buy Back Shares of Up to GBP350 Mln
Pearson PLC said Friday that pretax profit fell in 2021, raised its dividend payout and said it planned to buy back shares.
---
IAG Expects 1Q Operating Loss, Return to 2Q Profit After 2021 Net Loss Narrowed
International Consolidated Airlines Group SA said Friday that it expects a significant operating loss in the first quarter before a return to profit in the second quarter, as it reported a narrowed net loss for 2021.
---
Babcock International's Performance in 10 Months to Jan. 31 Was in Line With Views
Babcock International Group PLC said Friday that its performance in the first 10 months to Jan. 31 was in line with expectations, and that its outlook for fiscal 2022 was unchanged.
---
Lukoil Buys 50% Stake in Area 4 Oil Project Offshore Mexico
Lukoil PJSC said Friday that it has completed the acquisition of a 50% stake in the Area 4 oil project offshore Mexico for $435 million plus expenditures of around $250 million.
---
Alliance Trust 2021 Profit Rose Against Weak Comparative Year
Alliance Trust PLC said Friday that its 2021 pretax profit rose significantly on higher revenue and a weak comparative year, but missed its own performance benchmark.
Market Talk:
Oil Rises Amid Supply Concerns After Russia's Invasion of Ukraine
0114 GMT - Oil rises in Asian trade, as Russia's invasion of Ukraine further weighs on a market already suffering from supply constraints and robust demand, ANZ says. "Oil markets are particularly vulnerable to supply shocks given global oil stockpiles are at seven-year lows and as OPEC+ spare oil capacity has come under question due to disappointing OPEC+ supply growth," CBA says. Meanwhile, developments in Ukraine following Russia's invasion will continue to be closely watched. Front-month WTI crude oil futures rise 2.5% to $95.09/bbl, while Brent crude oil futures are 2.2% higher at $101.25/bbl. (justina.lee@wsj.com)
---
Global Central Banks Likely to Review Policy Outlooks After Russia Attacks Ukraine
0041 GMT - Russia's invasion of Ukraine will likely have global central banks recalibrating their policy outlooks, says Franklin Templeton. Markets are entering uncharted territory in terms of the implications of a war on Europe's borders, it says. The conflict between Ukraine and Russia could draw in other countries and NATO, or the war could be short, but the occupation long, it adds. In the coming days and weeks, investors will be weighing a range of topics, including the implications for hard and soft commodities, and whether the current global inflationary wave will give way to deflation, as global demand weakens in a prolonged conflict scenario, FT adds. (james.glynn@wsj.com ; @JamesGlynnWSJ)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-25-22 0307ET
