FTSE 100 to Open Higher After Powell Speech
0648 GMT - The FTSE 100 is expected to open slightly higher as traders continue to digest a speech from Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium on Friday. Spreadbetting firm IG expects the London blue-chip index to open up 9 points after being closed Monday for a bank holiday. Powell suggested the Fed had stepped closer to the start of tapering asset purchases but stopped short of providing details on the precise timing and pace of winding down purchases. A key focus this week will be the nonfarm payrolls report in the U.S. on Friday. Strong job additions would "certainly boost" investor appetite while any disappointment could lead to some profit taking, Swissquote Bank analyst Ipek Ozkardeskaya says. (renae.dyer@wsj.com)
Companies News:
Bunzl Completes Two Spanish Acquisitions
Bunzl PLC said Tuesday that in July it completed the acquisition of two Spanish companies and that these broadened its safety offering and expanded its customer base in the country.
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Bunzl 1H Pretax Profit Rose 12%
Bunzl PLC on Tuesday reported an improved profit for the first half of the year.
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Non-Standard Finance CEO Steps Down, Replaced by CFO
Non-Standard Finance PLC said Tuesday that John van Kuffeler will step down from his role as chief executive officer with immediate effect.
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Sabien Technology FY 2021 Pretax Loss Narrowed
Sabien Technology Group PLC said Tuesday that its fiscal 2021 pretax loss narrowed after it booked lower costs and higher revenue.
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Computacenter Expects to Beat Market Views for 2021 Adjusted Profit
Computacenter PLC said Tuesday that it continues to expect its 2021 adjusted profit to be ahead of market views.
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88 Energy to Raise A$20 Mln to Fund Merlin-2 Well
88 Energy Ltd. said Tuesday that it intends to raise 20 million Australian dollars ($14.6 million) via a share issue to finance the Merlin-2 oil well in Alaska.
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Regional REIT Buys UK Property Portfolio for GBP236 Mln
Regional REIT Ltd. said Tuesday that it has acquired a portfolio of 31 U.K. property assets for 236 million pounds ($324.7 million) from Squarestone Growth LLP.
Market Talk:
Copper, Aluminum Rises as Metal Deficits Look Likely to Worsen
0238 GMT - Copper and aluminum are higher in early Asian trade amid expectations of worsening global supply deficits for both base metals, Goldman Sachs says. Deferred demand from earlier this year, as well as reduced metal production due to power constraints and extreme weather, are contributing to market tightness, GS says. The investment bank says metals tend to outperform during Fed rate hikes and are relatively immune to Covid-19-related risks, adding that it expects copper and aluminum prices to reach $11,500 a ton and $3,200 a ton, respectively, in 12 months. The three-month LME contract for copper is 0.9% higher at $9,490 a ton, while the aluminum contract rises 2.2% to $2,707 a ton. (yongchang.chin@wsj.com)
Contact: Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
08-31-21 0308ET
