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FTSE Falls 1.7% as Traders Digest Fed Minutes

08/19/2021 | 04:04am EST

FTSE 100 Falls as Traders Digest Fed Minutes

0744 GMT - The FTSE 100 falls 1.7% to 7050 points as investors digest Wednesday's release of minutes from the Federal Reserve's last meeting. While no date is confirmed and Fed members are split, it appears increasingly likely that the central bank will start tapering asset purchases before year-end, Interactive Investor analyst Richard Hunter says. "Alongside some mixed retailer results, the unrest in Afghanistan and an apparently weakening Chinese economy, this has been a week to test the mettle of investors." Antofagasta shares slip 4.5% after the miner cut its 2021 copper production guidance. Lower metal prices also weigh on Antofagasta's shares and rival mining stocks. Energy giants BP and Royal Dutch Shell drop as oil prices slump.(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.

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Calnex Solutions 1Q 2022 Performance in Line With Views

Calnex Solutions PLC said Thursday that performance and order levels for the first quarter of fiscal 2022 are in line with the board's expectations.

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Marshalls 1H Profit, Revenue Grew; Raises Expectations

Marshalls PLC on Thursday raised expectations for this year and next after first-half profit jumped.

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Robinson Shares Fall on Swing to 1H Pretax Loss

Shares in Robinson PLC fell Thursday after the company said that it swung to a pretax loss for the first half of the year after booking higher costs, and that it expects the lower-than-normal level of demand seen in the third quarter to continue in the second half.

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Tremor International Shares in London Rise After Swing to 2Q Pretax Profit

London-listed shares in Tremor International Ltd. rose Thursday after the company said it swung to a second-quarter pretax profit as revenue more than doubled.

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Calnex Solutions 1Q 2022 Performance in Line With Views

Calnex Solutions PLC said Thursday that performance and order levels for the first quarter of fiscal 2022 are in line with the board's expectations.

Contact: London NewsPlus, Dow Jones Newswires; paul.larkins@wsj.com

(MORE TO FOLLOW) Dow Jones Newswires

08-19-21 0403ET

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