Sterling Could Struggle to Recover Vs Dollar After BOE Decision

Sterling might struggle to recover versus the dollar after the Bank of England's cautious tone at Thursday's meeting, ING says. The scaling back of the market's U.K. interest rate rise expectations after the BOE's meeting means GBP/USD is unlikely to rise above 1.32-1.33, ING analysts say. "At the same time, the euro's greater exposure to lingering uncertainty in Ukraine could still favor a EUR/GBP decline to the 0.8300 mark in the near term." GBP/USD falls 0.2% to 1.3157 and EUR/GBP rises 0.1% to 0.8398. The BOE raised its benchmark interest rate 25 basis points to 0.75% on Thursday but was more cautious about the prospect of further rises compared to the Federal Reserve at its meeting on Wednesday. 


 
Companies News:

Insig AI's Revenue Seen to Increase for FY2021 and Keep Rising on Launch of ESG Fund

Insig AI PLC said Monday that it expects to report a rise in revenue for fiscal 2022, and that revenue should continue to increase on the back of a new ESG fund to be launched.

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Photo-Me International Swung to FY 2021 Pretax Profit on Higher Revenue

Photo-Me International PLC said Monday that it swung to a pretax profit for fiscal 2021 as revenue rose, and that it has sufficient financial resources to continue to deal with economic risks over the next five years.

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Greencoat Renewables Plans Discounted Share Placing

Greencoat Renewables PLC said Monday that it is proposing a discounted share placing via a non-pre-emptive issue to pursue a strong mergers-and-acquisitions pipeline in Europe.

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Marlowe Expects FY 2022 Earnings in Line with Market Views

Marlowe PLC said Monday that its performance for the year ending March 31 is expected to be in line with current market views, and that it is in a strong financial position.

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PZ Cussons Acquires Childs Farm for GBP36.8 Million

PZ Cussons PLC said Monday that it has acquired the baby and child personal-care brand Childs Farm for 36.8 million pounds ($48.5 million) with existing funds.

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Bigblu Broadband 2021 Pretax Loss Narrowed After Quickline Disposal

Bigblu Broadband PLC said Monday that 2021 pretax loss narrowed as revenue increased after it disposed of the Quickline Communications Ltd. business during the year.

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Plexus Holdings 1H FY 2022 Pretax Loss Narrowed

Plexus Holdings PLC said Monday that its pretax loss for the first half of fiscal 2022 slightly narrowed despite higher revenue, and that it sees strong momentum in the oil and gas industry.

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Beeks Financial Cloud Swung to 1H Pretax Loss; Reports Record Performance in 3Q

Beeks Financial Cloud Group PLC on Monday a reported a swing to a pretax loss for the first half of fiscal 2022 as a result of higher investment costs, and said it achieved a record performance in the third quarter as it maintained sales momentum.

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Kibo Energy Furthers Renewables Repositioning With Deal for Brownhill International for GBP10 Mln in Shares

Kibo Energy PLC said Monday that it will buy Brownhill International Ltd. for 10 million pounds ($13.2 million) in new ordinary shares from Broomfield International Ltd., in line with its repositioning as a renewable and clean energy company.

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Spectra Systems 2021 Revenue, Pretax Profit Rose on Increased Demand

Spectra Systems Corp. said Monday that 2021 pretax profit and revenue rose, driven by increased demand for its materials from an existing central bank customer.

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Serinus Energy Swung to a 2021 Net Income Before Tax

Serinus Energy PLC on Monday reported a swing to a net income before tax for 2021 and said that its ability to generate significant cashflow in 2021 continued into 2022.

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Inspired Energy Shares Fall After Warning on Risk of Gazprom Unit Ceasing U.K. Ops

Inspired Energy PLC shares fell Monday after the company said it may suffer a hit to its 2022 Ebitda if Gazprom Marketing & Trading Retail Ltd., a unit of Russia's Gazprom, ceases to operate in the U.K. because of the war in Ukraine. 


 
Market Talk:

888 Holdings' Growth Potential Seen On Track for a Sea Change

1022 GMT - 888 Holdings' growth potential and relevance to investors should be transformed by the successful completion of the planned equity raise to fund the William Hill acquisition, Peel Hunt says. The U.K. brokerage lowers its target price to 600 pence from 750 pence, to reflect the increased dilution implied by the current share price. In a scenario where the William Hill deal didn't go through, 888 would be undervalued on a standalone basis--with a target price of 400 pence--and become a likely takeover target again, it says. "With two roads up for the share price, we reiterate our buy recommendation," Peel Hunt says. Shares in the FTSE 250 online betting and gaming company trade down 2.3% at 196.10 pence.

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Jefferies Starts Coverage of St. James's Place; Seems 'in the Right Place'

1013 GMT - St. James's Place seems well-placed to meet market expectations as the group revenue margins are stable, operating margins are high and it is able to retain new business, Jefferies says after starting coverage on the stock. The U.S. bank forecasts a compound annual growth rate of 14% over five years for both earnings and dividend per share, driven by scale and structural growth drivers. Jefferies starts with a buy recommendation and a price target of 1,740 pence. Shares are down 0.1% at 1,475.5 pence.

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UK Treasury Chief Is Expected to Address Cost-Of-Living Crisis in Spring Statement

1006 GMT - The cost-of-living crisis is set to be at the centre of U.K. Treasury Chief Rishi Sunak's spring statement on Wednesday, UBS says. "This week's statement is expected to be on possible measures to address the 'cost of living crisis', which is likely to deepen amid the spike in energy prices following the Russian invasion of Ukraine," UBS says. The statement will be accompanied by updated fiscal and economic projections by the Office for Budget Responsibility, the U.K.'s official fiscal watchdog. "Lower borrowing and a higher level of GDP imply that the FY21 deficit projection is likely to be revised down to around 7% of GDP," the Swiss bank says.


Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

03-21-22 0647ET