London Stocks Seen Opening Lower, Focus on US Inflation Data
0750 GMT - The FTSE 100 index is expected to open 33.3 points lower, according to IG, having closed Thursday at 7321.26, on caution ahead of U.S. inflation data due at 1330 GMT. U.S. inflation has been high recently and another high figure could point to early monetary tightening by the Federal Reserve. "Today's data is important, as the U.S. inflation data is the new NFP [nonfarm payrolls]. It is what will influence the Fed expectations for the next couple of months," says Ipek Ozkardeskaya, analyst at Swissquote. A softer-than-expected reading could see equity markets "close the week in quite a cheerful mood," however, she says. Concerns about restrictions related to the Omicron variant of Covid-19 also continue to weigh on sentiment.
Companies News:
Anglo American Expects Costs to Rise Again in 2022
Anglo American PLC expects costs to increase further in 2022 and reaffirmed its full-year guidance for 2021.
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AB Foods Sees Improved Performance Ahead as Primark Sales Strengthen
Associated British Foods PLC said Friday that fashion retailer Primark's performance since the fiscal 2021 year ended on Sept. 18 has been ahead of expectations thanks to stronger like-for-like sales when compared with the latest quarter.
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Hilton Food Group Buys Foppen for EUR90 Mln; To Raise GBP75 Mln via Share Placing
Hilton Food Group PLC said Friday that it is buying international smoked-salmon producer Dutch Seafood Company BV, which trades as Foppen, for 90 million euros ($101.6 million) to be part-funded via a share placing.
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Photo-Me International Upgrades FY 2021 Pretax Profit, Revenue Views on Continued Recovery
Photo-Me International PLC said Friday that it has upgraded its forecasts for fiscal 2021 as it continued to see a recovery across most of its key markets.
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President Energy's Atome to Raise GBP9 Mln in London IPO
President Energy PLC said Friday that its hydrogen subsidiary Atome Energy PLC expects to raise up to 9 million pounds ($11.9 million) as part of its initial public offering on the AIM.
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Dunelm Group Launches GBP185M Sustainability-Linked Credit Facility
Dunelm Group PLC said Friday that it has agreed to a new 185 million pound ($244.6 million) sustainability-linked revolving credit facility to replace an existing one that expires in March 2023.
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Gemfields 2021 Auction Revenue Rises to New High of $239.6 Mln
Gemfields Group Ltd. said Friday that the latest auction for rubies from its Montepuez mine in Mozambique achieved record revenue, bringing full-year auction sales to a new high of $239.6 million.
Market Talk:
UK GDP Growth Slows Down, Growth Seen Remaining Weak in the Near Term
0750 GMT - U.K. monthly GDP rose just 0.1% month-on-month in October, a marked slowdown from the 0.6% growth seen in September, UniCredit says. Industrial production fell 0.6% on the month, construction fell 1.8%, while services output rose 0.4%, the press release shows. "Supply bottlenecks and higher inflation, as well as tighter fiscal policy and subdued consumer confidence were likely the main drivers of the moderation in the pace of growth," economists at UniCredit say. Looking ahead, rising new cases of Covid-19 will likely see growth remain weak in the coming months, UniCredit forecasts. The Italian bank says the Bank of England's Monetary Policy Committee is likely to refrain from raising the bank rate next week.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
12-10-21 0308ET
