FTSE 100 to Edge Lower After Downbeat Asian Session; Geopolitics in Focus

FTSE 100 Poised to Fall After Downbeat Asia Trading

0735 GMT - The FTSE 100 Index looks set to open seven points lower at 7362, according to IG futures data, amid mostly negative Asia trading, though Wall Street closed higher. Australian, mainland China and Hong Kong markets drop, but Japan's Nikkei rises. The Dow closed 0.2% higher. Brent crude retreats 0.6% to $93.27 a barrel. U.S. markets underwent another solid session, though reports that two Russian-made missiles had landed in Poland, killing two people in the process, tempered the gains somewhat, CMC Markets says. "As a result of this elevated uncertainty and the ongoing investigation as to who might be responsible, European markets look set to open lower this morning," CMC analyst Michael Hewson writes. ([e-mail])

 
Companies News: 

Experian 1H Pretax Profit Fell Amid Higher Costs; Backs FY 2023 Views

Experian PLC on Wednesday reported a fall in pretax profit for the first half of fiscal 2022 and reiterated its full-year guidance despite expecting the economic backdrop to be tougher over the year.

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Deliveroo to End Operations in Australia

Deliveroo PLC said Wednesday that it has decided to stop operations in Australia as it doesn't hold a broad base of strong local positions, but said this won't change full-year guidance.

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British Land Swung to 1H Pretax Loss on Interest Rate Hikes; Raises Dividend

British Land Co. said Wednesday that it swung to a pretax loss in the first half of fiscal 2023 as portfolio valuations fell on rising interest rates, though revenue rose and it increased its dividend.

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Sage Group FY 2022 Profit Fell as Costs Rose

Sage Group PLC said Wednesday that fiscal 2022 pretax profit fell as costs increased due to a change in recurring and nonrecurring items, including higher net gains in the prior year from disposals.

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SSE Swung to 1H Pretax Loss After Booking Higher Costs; Backs Guidance

SSE PLC said Wednesday that it swung to a pretax loss for the first half of fiscal 2023 after booking higher costs, and backed its guidance for the year.

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CMC Markets 1H Pretax Profit Rose on Higher Market Activity

CMC Markets PLC said Wednesday that pretax profit for the first half of fiscal 2023 rose slightly as market activity accelerated, and that the group's expansion plans remain on track.

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McBride Performing in Line Year to Date Despite Challenging Market

McBride PLC said Wednesday that it has performed in line with expectations in the year to date, despite uncertainty in the political and macroeconomic environment.

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Mediclinic International 1H Boosted by More Inpatients, Day Cases

Mediclinic International PLC on Wednesday reported a 4.4% rise in pretax profit for the first half of fiscal 2023 on revenue that was boosted by more inpatient and day case admissions, but offset by lower average revenue per case compared with the pandemic-affected comparable period.

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Premier Foods 1H Pretax Profit, Revenue Rose on Brand Strength

Premier Foods PLC said Wednesday that pretax profit and revenue rose in the first half of fiscal 2023, with consistently strong growth recorded across its brand portfolio.

 
Market Talk: 

Four-Decade High UK Inflation to Squeeze Households Further

0731 GMT - U.K. inflation has risen to a new 40-year high of 11.1% on year in October, "putting further strain on household budgets already at breaking point as we edge closer to Christmas," Rachel Winter, partner at Killik & Co, says in a note. The U.K. economy continues to suffer despite a more stable political landscape, with declining gross domestic product in the third quarter and the country bracing for recession, she says. "With so much change in the pipeline and seemingly no respite from price rises, consumers are understandably concerned about their financial situations and confused about what to do," she says. ([e-mail])

Redemptions to Be A Challenge for UK Gilt Market in Coming Years

0722 GMT - The U.K. gilt market will face continuing challenges from high redemptions in the coming three years at a time when the Bank of England will struggle to reinvest holdings from quantitative easing back into gilts, Morgan Stanley's strategists say. They estimate gilt redemptions amounting to at least GBP100 billion annually over this time horizon. "In fact, QT [quantitative tightening] means that maturing gilts will definitely not be reinvested while the market will have to react to active sales," the strategists write in a note. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

11-16-22 0303ET