FTSE Seen Opening Marginally Higher, Trade Seen Cautious

London Stocks Seen Opening Marginally Higher, Trade Seen Cautious

The FTSE 100 is expected to open slightly higher, at around 7053, having closed at 7029.20 on Friday, but with traders staying cautious due to concerns about weak growth combined with high inflation, according to IG. "Since the disappointing U.S. jobs report at the beginning of the month, confidence in the broader recovery story has started to ebb away, and ergo so has confidence in the outlook for stock markets more generally," says Michael Hewson, analyst at CMC Markets. Concern is also growing that inflationary pressure may be more persistent than central banks have been anticipating, he says. AB Foods and FirstGroup will be in focus after trading updates.

 
Companies News: 

Rolls-Royce, Babcock to Sell Stake in AirTanker Holdings

Rolls-Royce Holdings PLC and Babcock International Group PLC said Monday that they have agreed to sell their respective shareholdings in AirTanker Holdings Ltd. to Equitix Investment Management Ltd.

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AB Foods Sees FY Adjusted Operating Profit Growth

Associated British Foods PLC said Monday that its full-year adjusted operating profit is now expected to surpass the previous year's despite lower-than-expected sales, and that both Primark and the AB Food business are anticipated to exceed management's previous expectations.

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SThree's FY 2021 Pretax Profit Seen Ahead of Market Views

SThree PLC said Monday that its performance for the third quarter of fiscal 2021 was very strong, with full-year pretax profit now expected to be significantly above market expectations.

 
Market Talk: 

Aluminum Nears $3,000 a Ton as Coal, Alumina Prices Rally

0622 GMT - Aluminum is extending three consecutive sessions of gains to trade near $3,000 a ton, as prices of coal and alumina increase, Marex says. The three-month LME aluminum contract is 2.4% higher at $2,994.5 a ton, supported by surging coal prices in China as energy accounts for some 40% of total aluminum production costs there, the broker says. It adds that alumina supply disruptions in Brazil and Jamaica, as well as continued uncertainty over bauxite exports from Guinea, are also supporting. "Power curtailments, together with more infrastructure stimulus, may help push aluminum prices even higher," Marex says.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [e-mail]

(END) Dow Jones Newswires

09-13-21 0305ET