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London Shares to Open Lower as Investors Eye Earnings

10/11/2021 | 01:04am EST

FTSE 100 to Open Lower as Investors Eye Earnings

The FTSE 100 is seen opening lower with spread-betting firm IG expecting the London index to fall 24 points after closing Friday's session up 17 points. This week sees third-quarter U.S. earnings season get underway and "guidance is likely to be just as important as the headline numbers themselves," CMC Markets analyst Michael Hewson says. "We also have to contend with concerns about how a continued rise in energy price and supply chain pressures may well impact profit margins, at a time when consumer incomes may well get squeezed even further as we head into winter."

 
Companies News: 

ASOS CEO Nick Beighton Steps Down

ASOS PLC said Monday that Chief Executive Officer Nick Beighton has agreed to step down, and that Ian Dyson will become its next chairman.

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ASOS Warns on FY 2022 Earnings Hit From Supply-Chain Issues, Inflation

ASOS PLC on Monday warned of lower earnings for the current fiscal year as a result of supply-chain pressures and higher costs.

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Senior PLC's Sales in First Nine Months Were 14% Lower on a Constant Currency Basis

Senior PLC said Monday that sales in the first nine months of the year were around 14% lower on a constant currency basis, and that excluding its Senior Aerospace Connecticut unit, revenue in this period was down 11% on an organic, constant currency basis.

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UK Watchdog Launches Probe Into Grafton Group's Planned Sale of Traditional Merchanting Business

The U.K. Competition and Markets Authority said Monday that it has started an investigation into Grafton Group PLC's planned sale of its traditional merchanting business in Great Britain to Huws Gray.

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Good Energy Reaffirms 2021 Views Despite UK Market Volatility

Good Energy Group PLC on Monday reaffirmed full-year expectations despite the current volatility in the U.K. energy retail sector and recent low wind speeds.

 
Market Talk: 

Victorian Plumbing's Dominance of Online Market Growth Is Expected to Continue

0605 GMT - Victorian Plumbing has captured 80% of the online growth in its market in the past five years, and this dominance is expected to continue as the company can leverage its existing online platform and customer base to expand into adjacent categories, Berenberg says. Local trade customers remain an underpenetrated opportunity, and they could drive higher average order values, frequency and repeat orders, providing the bathroom-products retailer with additional scale efficiencies and profits, Berenberg says. "We expect the customer proposition to further improve as the company scales, with simple and capital-light self-help opportunities to improve the online proposition," the brokerage says. Berenberg initiates coverage with a buy rating on the stock and a 260 pence target price.

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Dunelm's Online Proposition Underpins Market Share Growth

0544 GMT - Dunelm has consistently outperformed the U.K. home-furnishing market, analysts at Berenberg say.They expect the homewares retailer's share gains to continue. The company is one of Europe's most value-generative omnichannel retailer, and its leading return on invested capital can be sustained, the German brokerage says. The company's expansion into the GBP11 billion furniture sector increases its addressable market and increases its customer's purchase frequency, with multi-category customers typically spending around two to three times more than single-category customers, the broker says. "We expect Dunelm's superior online proposition to underpin its market share growth given that the channel is capturing additional new customers, as well as increasing purchase frequency," it says. Berenberg initiates its coverage of the stock with a buy rating and a 1,620-pence target price.

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

(END) Dow Jones Newswires

10-11-21 0304ET

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