FTSE 100 Seen Edging Higher; Asia, US Fall
The FTSE 100 is expected to open 11 points higher at 7471, according to CMC Markets, after mostly lower trading in Asia and ahead of more economic data. Stocks in mainland China and Hong Kong drop and the Dow closed firmly in negative territory Wednesday, though Japan's Nikkei gains 0.25%. "We look set for a modest rebound at this morning's European open despite a slightly softer theme in Asia, ahead of the latest insight into economic activity in March and how businesses and consumers are dealing with challenges posed by the sharp rise in energy prices in the last few weeks, with the latest flash PMI numbers, from France, Germany, the U.K. and U.S.," CMC says.
Companies News:
Olam Food Ingredients Delays London IPO
Olam Group Ltd. has pushed back the listing of its food-and-beverage ingredients business on the London Stock Exchange, the company said Thursday, citing volatile market conditions.
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Games Workshop Raises Dividend; Sees Performance In Line
Games Workshop Group PLC said Thursday that business in the three months to the end of February met its expectations, and declared a dividend of 70 pence (92.4 cents) a share.
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Arbuthnot Banking Swung to 2021 Pretax Profit; Resumes Dividend
Arbuthnot Banking Group PLC on Thursday reported a swing to a pretax profit in 2021 on the back of lower costs after the integration of Asset Alliance, and declared a dividend payout.
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Next Says FY 2022 Pretax Profit Rose Ahead of Views But Lowers Guidance
Next PLC reported Thursday a rise in pretax profit for fiscal 2022 ahead of management views, said it has lowered its sales and profit guidance for fiscal 2023 due to the effects of Russia's invasion of Ukraine.
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Kin & Carta 1H Pretax Loss Narrowed, Revenue Rose on Strong Demand
Kin & Carta PLC said Thursday that pretax loss for the first half of fiscal 2022 narrowed on year while revenue rose on strong demand and increasing spending from clients.
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EnQuest Swung to 2021 Pretax Profit on Revenue Rise Amid Higher Oil Prices
EnQuest PLC said Thursday that it swung to a pretax profit on increase revenue as oil prices rose, which was partially offset by lower production.
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Bluejay Mining to Raise $7M for Greenland Project via Discounted Share Placing
Bluejay Mining PLC said Thursday that it will raise $7 million via a discounted share placing, and that it will use the funds to further develop the Dundas ilmenite project in Greenland, as well as for general corporate purposes.
Market Talk:
Shippers Could Face Pressure as Prices on Europe Routes Fall
Shipping companies could be at risk for deteriorating earnings amid evidence that some global container ship rates are falling, Nomura says. The bank cites reports by news portal Daily Cargo that rates as of March 18 on routes to Europe from China fell below $7,000/TEU for the first time in nine months, which Nomura says could be due to concerns over slowing consumption in Europe stemming from the Russia-Ukraine conflict. The report also showed falling rates on routes to South America, while rates to North America were largely unchanged, Nomura notes. "We caution that as a high percentage of shipments to Europe are at spot rates, such a decline can easily lead to deterioration in earnings at shipping companies," the bank says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
03-24-22 0358ET
