London Stocks Seen Opening Lower
0745 GMT - The FTSE 100 is expected to open around 44 points lower, according to IG, having closed on Monday at 7299.99, amid caution ahead of U.S. midterm elections. "A rebound in risk assets seems to have stalled as investors look towards this evening's U.S. midterm elections, wondering if a Republican win in the two Houses of Congress will result in legislative impasse and a fresh U.S. debt ceiling crisis," IG analysts write. With little in the way of data and earnings, investors will likely focus on the elections, before moving on to concentrate on U.S. CPI data later in the week. (jessica.fleetham@wsj.com)
Companies News:
Persimmon Sales Fell; Backs 2022 View But Sees 2023 Sales Slipping
Persimmon PLC said Tuesday that sales over the first four months of the second half of the year fell against a strong comparative and macroeconomic headwinds, and while it sees 2022 meeting views, it expects 2023 sales to fall.
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ALD Acquisition of LeasePlan Gets UK Competition Regulator Clearance
The U.K. competition regulator said Tuesday that it has cleared the acquisition of LeasePlan Corp. by Societe Generale SA's vehicle-leasing business ALD SA.
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Aveva 1H Pretax Loss Widened on Amortization Relating to Schneider Deal
Aveva Group PLC said Tuesday that its pretax loss for the first half widened due to amortization of intangible assets relating to the combinations with the Schneider Electric industrial software business and OSIsoft.
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WPP CFO John Rogers to Step Down; Britvic's Joanne Wilson Named Successor
WPP PLC said Tuesday that Chief Financial Officer John Rogers has decided to step down from the company, and named soft-drink company Britvic PLC's CFO Joanne Wilson as successor.
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AB Foods FY 2022 Pretax Profit Rose on Robust Pricing; Launches GBP500 Mln Share Buyback
Associated British Foods PLC said Tuesday that pretax profit for fiscal 2022 rose on robust pricing amid a normalization of customer behavior, and raised its dividend payout and launched a buyback program.
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IMI 3Q Organic Revenue Rose; Upgrades 2022 EPS Guidance
IMI PLC said Tuesday that third-quarter organic revenue growth was 4% and that it is upgrading its full-year earnings per share guidance.
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Irish Government Sells 134 Mln AIB Group Shares at EUR2.96
J.P. Morgan Securities PLC said Tuesday that it has now sold 134 million ordinary shares in AIB Group PLC on behalf of the Irish Government at 2.96 Euros a share ($2.97), as first announced late Monday.
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Hilton Food's 2022 SeaFood Business Profit to Miss Expectations
Hilton Food Group PLC said that volume and revenue performance have been in line with the board's expectations, although it expects a drop in its U.K. seafood business operating profit for the full year amid macroeconomic pressures.
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Hammerson 3Q Rental Income, Sales Rose; Sees 2022 Adjusted Earnings Rising
Hammerson PLC said Tuesday that its third-quarter rental income and sale increased on further postpandemic recovery, and it expects full-year adjusted earnings to rise.
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Seraphine Sees 1H Loss Amid Tough UK Conditions
Seraphine Group PLC said Tuesday that it expects to post a loss for the first half after experiencing a challenging retail environment and softer trading during the summer months.
Market Talk:
UK Retail Stocks Look Attractive in Midterm
0700 GMT - The U.K. retail sector's inflation-driven sales reported by the British Retail Consortium and Sensormatic showed it is still difficult forecast a peak inflation, Shore Capital's Clive Black and Darren Shirley say in a note. However, the sharp falls in equity valuation in 2022 indicate that investors already discounted the sector challenges and the Christmas and New Year performance update might present some opportunities, they add. "We see several U.K. retail equities that look attractive on a medium-term valuation view and we feel, in the absence of new negative externalities, that the time to turn more positive is closer but just not close enough", they say. (michael.susin@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
11-08-22 0305ET
