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FTSE 100 to Tumble at Open After Fed Minutes

08/19/2021 | 03:07am EDT

FTSE 100 Set to Open Lower After Fed Minutes

0640 GMT - The FTSE 100 is expected to open lower after the minutes of the last Federal Reserve meeting showed most policy makers believed a tapering of asset purchases could start later this year. Spread betting firm IG expects the London index to fall 80 points, tracking declines in U.S. and Asian markets. "We read the minutes of the July FOMC meeting as moderately hawkish in an absolute sense, though not more hawkish than we were anticipating," Evercore ISI analysts say. Media reports on Monday that sentiment at the Fed had "shifted hawkish" helped to reset expectations before the minutes, they say. Without that equities would have read the minutes as a "bigger hawkish surprise" and traded more "risk-off," they add. (renae.dyer@wsj.com)

 
Companies News: 

UK Government Intervenes in Ultra Electronics Takeover by Advent's Cobham

The U.K. government said late Wednesday that it is intervening in Ultra Electronics Holdings PLC's proposed 2.57 billion pounds ($3.53 billion) takeover by Advent International Corp.'s Cobham Group Holdings Ltd. on national security grounds.

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Rank Group Swung to FY 2021 Pretax Loss on Pandemic Hit

Rank Group PLC said Thursday that it swung to a pretax loss for fiscal 2021 as revenue took a hit from venue closures due to the coronavirus pandemic, but said it has made encouraging progress since its U.K. venues reopened.

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Antofagasta 1H Profit, Revenue Rose

Antofagasta PLC said Thursday that profit for the first half rose as revenue increased, and that it was lowering its copper production for the year.

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Helios Towers 2Q Adjusted Earnings, Revenue Rose

Helios Towers PLC said Thursday that adjusted earnings for the second quarter rose on the back of higher revenue, and reiterated its outlook for the full year.

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OSB Group 1H Pretax Profit More Than Doubled

OSB Group PLC said Thursday that pretax profit for the first half of 2021 more than doubled, driven by a release of impairment provisions and a lower cost of retail funds.

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McBride Warns on Fiscal 2022 Earnings; Blames Distribution Challenges, Costs

McBride PLC on Thursday warned that fiscal 2022 adjusted pretax profit will be up to 65% below fiscal 2021 market consensus, blaming distribution challenges due to a shortage of drivers and raw-material price increases.

 
Market Talk: 

Antofagasta Investors to Eye Production Guidance at 1H

1142 ET - Antofagasta investors are tipped to focus on the Chilean copper miner's production outlook in half-year results Thursday Aug. 19. While the company in July reported a 3% year-on-year fall in 1H production, blaming lower-grade output, it stuck to full-year guidance of 730,000-760,000 tonnes at a net cash cost of $1.25 a pound, compared to 733,900 tonnes at $1.14 a pound in 2020. "The increased costs reflect strength in the Chilean peso and higher energy and diesel prices, plus that slip in grade quality," AJ Bell says. "Attention will focus on whether there are any changes to that guidance." (philip.waller@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

08-19-21 0306ET

Stocks mentioned in the article
ChangeLast1st jan.
ANTOFAGASTA PLC 0.00% 1101.5 Delayed Quote.-17.71%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.36% 0.64845 Delayed Quote.-11.37%
BRITISH POUND / US DOLLAR (GBP/USD) -0.66% 1.10854 Delayed Quote.-20.72%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.26% 0.7287 Delayed Quote.-7.88%
DOW JONES INDUSTRIAL -1.54% 29225.61 Real-time Quote.-18.31%
EURO / US DOLLAR (EUR/USD) -0.29% 0.97998 Delayed Quote.-14.64%
EVERCORE INC. -2.04% 80.75 Delayed Quote.-40.56%
FTSE 100 -1.77% 6881.59 Delayed Quote.-5.13%
HELIOS TOWERS PLC -1.18% 108.7 Delayed Quote.-36.80%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.00% 0.012274 Delayed Quote.-8.86%
MCBRIDE PLC -1.69% 23.3 Delayed Quote.-61.17%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.53% 0.57096 Delayed Quote.-17.64%
OSB GROUP PLC -5.89% 412.2 Delayed Quote.-25.66%
THE RANK GROUP PLC 1.46% 76.4 Delayed Quote.-51.03%
ULTRA ELECTRONICS 0.00% 3500 End-of-day quote.10.06%
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