FTSE 100 Poised to Fall After Downbeat Asia Trading
0738 GMT - The FTSE 100 Index looks set to open 107 points lower at 7228, according to IG futures data, after downbeat trading in Asia and a negative end to last week's trading on Wall Street. Major Asia markets are in the red and the Dow closed 1.2% lower Friday. "Having come off the worst week for European equity markets this year, volatility looks set to continue this week, now the fate of Credit Suisse appears finally to have been sealed in a $3.2bn deal that sees rival UBS take over the bank in an all-share deal," CMC Markets analyst Michael Hewson writes. (philip.waller@wsj.com)
Companies News:
Intertek Group Names Colm Deasy as New Chief Financial Officer
Intertek Group PLC said Monday that it has appointed Colm Deasy as group chief financial officer, replacing Jonathan Timmis who has stepped down with immediate effect.
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Egdon Resources to Report Rise in 1H Revenue; Production Ahead of Guidance
Egdon Resources PLC said Monday that it expects to report a rise in revenue for the first half of fiscal 2023 and that production in the period was ahead of guidance for the year.
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Ten Lifestyle Sees 49% Rise in 1H Revenue on Record Number of Active Members
Ten Lifestyle Group PLC said Monday that it expects revenue and earnings to rise significantly in the second half of fiscal 2023 thanks to contract developments and a record number of active members.
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Dialight Appoints Neil Johnson as Nonexecutive Chairman
Dialight PLC said Monday that it has appointed Neil Johnson as nonexecutive chairman with effect from May 17, replacing David Thomas who will step down from the role at the annual general meeting.
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SolGold Names Chris Stackhouse as New CFO; Interim CEO Named to Role Permanently
SolGold PLC said Monday that it has appointed Chris Stackhouse as incoming chief financial officer, and named interim Chief Executive Officer Scott Caldwell to the role on a permanent basis.
Market Talk:
Markets Remain Nervous After UBS Takeover of Credit Suisse
0731 GMT - Despite the UBS deal to buy ailing Credit Suisse, there is still a nervous wait-and-see mood in financial markets as investors question whether the deal is enough to bring calm and whether there are other problem banks, Jyske Markets analysts say in a note. Investors in around $17 billion of AT1 bonds in Credit Suisse have been wiped out, but shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held. "We do not see the current crisis developing in the same way [as the global financial crisis], because banks are significantly better-equipped... with much less leverage, and the economy has also not experienced a large lending boom." (dominic.chopping@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
03-20-23 0358ET
