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FTSE 100 to Extend Gains After Wall Street Rally

07/20/2022 | 03:12am EDT

FTSE 100 Expected to Open Higher After Wall Street Rally

0638 GMT - The FTSE 100 is seen opening higher after Wall Street rallied overnight following strong corporate earnings. The London stocks index is expected to open 38 points higher after closing up 73 points Tuesday, according to IG. "Firmer oil and commodity prices sent the FTSE 1% higher yesterday, but the prospects for FTSE for the second half are much weakened due to the recession fears that could hurt demand and hit the energy and mining companies' earnings," Swissquote Bank analyst Ipek Ozkardeskaya writes. There is also political uncertainty following U.K. Prime Minister Boris Johnson's resignation, while the macroeconomic environment isn't ideal with data Wednesday showing U.K. inflation accelerated to 9.4% on year in June from 9.1% in May, she says. (renae.dyer@wsj.com)

 
Companies News: 

PayPoint 1Q Sales Rose; FY 2023 Outlook Unchanged

PayPoint PLC said Wednesday that sales increased in the first quarter of fiscal 2023, noting that its expectations for the financial year and the medium term remain unchanged.

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Antofagasta Downgrades Guidance After Los Pelambres Pipeline Incident

Antofagasta PLC on Wednesday downgraded 2022 production and cost guidance after an issue at its Los Pelambres project caused copper output to fall 6.5% in the second quarter.

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Premier Foods 1Q Sales Rose; Year-To-Date Performance in Line With Views

Premier Foods PLC said Wednesday that sales rose 6.0% in the first quarter of fiscal 2023 to 197 million pounds ($236.3 million), and that its performance so far has been in line with the board's expectations.

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Costain Says 1H Performance Met Its Views; Expects Rev to Top Market Views

Costain Group PLC said Wednesday that its first-half performance met its expectations, with revenue anticipated to exceed market forecasts on inflation recovery mechanisms and increased volumes.

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Royal Mail 1Q Revenue Fell; Committed to Reaching Agreement With CWU

Royal Mail PLC said Wednesday that its fiscal first-quarter group revenue fell 11.5% on year and that it was committed to reaching an agreement with a union after a ballot on strike action on Tuesday.

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Centamin Backs 2022 Production Guidance, Sees Costs at Upper End of Range -- Commodity Comment

Centamin PLC on Wednesday reiterated 2022 production guidance after output improved in the second quarter, but warned that operational costs for the year will be at the upper end of expectations. This is what the owner of the Sukari gold mine in Egypt had to say:

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Petershill Partners' 2Q Aggregate Assets Under Management Unchanged

Petershill Partners PLC said Wednesday that aggregate assets under management in the second quarter were unchanged from the previous quarter.

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Centaur Media Swung to 1H Pretax Profit; 2H Performance in Line With Views

Centaur Media PLC said Wednesday that it swung to a pretax profit for the first half of 2022 as revenue rose, and that its performance in the second half is in line with the board's expectations.

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Bloomsbury Publishing Four-Month Revenue Rose 27% After Record 1H UK Book Sales

Bloomsbury Publishing PLC said Wednesday that revenue for the four months ended June 30 grew 27% after the first half of 2022 had record U.K. consumer book sales.

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Finsbury Food Says FY 2022 Sales Rose on Year; Cost Pressures Mitigated

Finsbury Food Group PLC said Wednesday that it delivered a strong performance in fiscal 2022 with higher total sales, and has largely mitigated costs pressures through a range of initiatives.

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Pendragon Sees 1H Profit Slipping Slightly on Higher Operating Costs

Pendragon PLC said Wednesday that it expects underlying pretax profit to slip slightly in the first half of the year on higher underlying operating costs, though gross profit per vehicle rose.

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Antofagasta Downgrades Guidance After Los Pelambres Pipeline Shutdown -- Update

Antofagasta PLC on Wednesday downgraded 2022 production and cost guidance after a pipeline problem at its Los Pelambres project caused copper output to fall 6.5% in the second quarter.

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Corcel to Raise GBP336,000 via Share Placing; Launches Cost Cuts

Corcel PLC said Wednesday that it is planning to raise 336,000 pounds ($403,066) via a discounted share placing and started some cost cuts to boost the company's finances.


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

07-20-22 0311ET

Stocks mentioned in the article
ChangeLast1st jan.
ANTOFAGASTA PLC 1.27% 1115.5 Delayed Quote.-16.66%
BLOOMSBURY PUBLISHING PLC -0.41% 366.5 Delayed Quote.1.81%
CENTAMIN PLC 4.25% 90.18 Delayed Quote.1.53%
CENTAUR MEDIA PLC 0.00% 43 Delayed Quote.-23.21%
CORCEL PLC 15.38% 0.375 Delayed Quote.-75.00%
COSTAIN GROUP PLC -1.36% 40 Delayed Quote.-25.09%
FINSBURY FOOD GROUP PLC 1.28% 79 Delayed Quote.-21.00%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.65%
LONDON BRENT OIL -3.84% 85.29 Delayed Quote.13.53%
PAYPOINT PLC 6.57% 600 Delayed Quote.-9.77%
PENDRAGON PLC 0.00% 27 Delayed Quote.16.38%
PETERSHILL PARTNERS PLC 9.25% 184.2 Delayed Quote.-32.90%
PREMIER FOODS PLC 2.36% 95.3 Delayed Quote.-14.76%
ROYAL MAIL PLC 0.68% 184.45 Delayed Quote.-63.55%
SWISSQUOTE GROUP HOLDING LTD 3.79% 104.1 Delayed Quote.-48.08%
WTI -2.49% 79.673 Delayed Quote.5.74%
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