FTSE 100 to Open Lower on Russia-Ukraine Jitters
The FTSE 100 is seen falling at the start of trading as investors remain cautious amid the Russia-Ukraine conflict. Spreadbetter IG expects the London index to open 23 points lower after closing up 99 points on Wednesday. "The possibility of another round of discussion between Russia and Ukraine and [Federal Reserve Chairman] Jerome Powell's more dovish than expected testimony saved the day for equity investors yesterday," Swissquote Bank says. Powell told the House Financial Services Committee that he would back a 25-basis-point interest-rate rise at the March meeting instead of the 50-basis-point rise that some market participants expected, acknowledging uncertainty over the Ukraine war. He will appear before the Senate Banking Committee at 1500 GMT.
Companies News:
Admiral Group 2021 Pretax Profit Rose on UK Motor Insurance Performance
Admiral Group PLC reported on Thursday a rise in pretax profit for 2021 and said its stronger performance for the year was mainly driven by its U.K. Motor insurance business.
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Taylor Wimpey 2021 Pretax Profit Rose; Declares GBP150 Mln Share Buyback
Taylor Wimpey PLC said Thursday that pretax profit and revenue grew in 2021 and declared it would return 150 million pounds ($201.1 million) to shareholders through a share buyback program.
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Mondi 2021 Profit, Revenue Rose on Higher Sales Volumes
Mondi PLC said Thursday that its pretax profit and revenue for 2021 rose 28% on the back of higher sales volumes and significantly higher selling prices.
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Meggitt Swung to 2021 Pretax Profit as Costs Fell; Won't Pay Final Dividend
Meggitt PLC said Thursday that it swung to pretax profit last year after booking lower costs, and that it wasn't paying a final dividend for 2021.
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Rentokil 2021 Pretax Profit Rose, Raises Dividend
Rentokil Initial PLC reported Thursday a increase in pretax profit for 2021 driven by a strong momentum in its core business, and increased its dividend payout.
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Next Fifteen Raises GBP50 Mln via Share Placing to Fund Acquisition
Next Fifteen Communications Group PLC said Thursday that it has now raised 50 million pounds ($67 million) via the share placing first announced late Wednesday.
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Entain 2021 Pretax Profit, Revenue Increased After Good Performance in All Major Markets
Entain PLC said Thursday that revenue and pretax profit for 2021 rose after a good performance in all major markets, particularly for BetMGM in the U.S. which delivered a five times increase in net gaming revenue.
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Schroders 2021 Pretax Profit Rose; Assets Under Management Reached New High
Schroders PLC said Thursday that its pretax profit rose 25% in 2021 and that assets under management increased 10%, reaching a record high.
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Melrose Industries 2021 Pretax Loss Narrowed; Shareholder Return Under Review Due to Ukraine War
Melrose Industries PLC said Thursday that it 2021 pretax loss narrowed after booking lower costs, and that the board was reviewing the timing of a second return of capital to shareholders due to the war in Ukraine.
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Darktrace Posts 1H Profit, Raises FY 2022 Guidance
Darktrace PLC on Thursday reported a profit for the first half and raised revenue growth and margin guidance for the full year.
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PageGroup 2021 Pretax Profit, Revenue Rose on More Fee Earners
PageGroup PLC said Thursday that pretax profit and revenue for 2021 rose as the number of fee earners and their conversion rates increased.
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Elementis Swung to 2021 Profit, Performance Was Modestly Ahead of Views
Elementis PLC said Thursday that it swung to a profit in 2021, as its underlying performance was modestly better than expected.
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ITV 2021 Pretax Profit, Revenue Rose on Strong Performance in Studios, Media and Entertainment
ITV PLC said Thursday that 2021 pretax profit and revenue increased after experiencing strong performance in both its Studios and Media and Entertainment divisions, as well as a record year for total advertising revenue.
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Avation 1H Pretax Loss Narrowed on Reduced Impairments
Avation PLC said Thursday that its pretax loss narrowed for the first half of fiscal 2022 on the back of reduced impairments and provisions for credit losses.
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London Stock Exchange 2021 Pretax Profit Rose; Good Momentum Carrying Into 2022
London Stock Exchange Group PLC on Thursday reported a more-than-doubled pretax profit for 2021 after strong growth across all of its businesses, and said that it is confident about its outlook.
Market Talk:
Oil Headed for $125 Amid Signs Buyers Shunning Russian Crude
Oil prices face further upside amid signs that buyers are now shunning Russian crude, ANZ says. The bank says that while the U.S. was initially keen on oil-and-gas trade continuing, financial sanctions and the increasing reluctance of individual companies to do business with Russia is hurting supply. "We estimate Russia's oil supply could already be down by 1 million barrels/day. Overall, nearly 5 million barrels/day of Russian crude could be struggling to find a buyer," ANZ says, as it raises its short-term target for oil to $125/bbl. Front-month Brent is 3.4% higher at $116.76/bbl while front-month WTI rises 3.3% to $114.26/bbl.
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Metal Supply Shortage Looms Amid Russian Shipping Disruptions
There could soon be supply disruptions for metals, such as aluminum and nickel, ANZ says, noting that shipping giant Maersk, which handles shipments for Russian aluminum producer United Co. Rusal, recently suspended operations in Russia. Large volumes of aluminum and nickel regularly flow from St. Petersburg to other European ports and are at risk of disruption, ANZ says. Russia produces 17% of the world's supply of LME-grade nickel, sought after by the electric-vehicle battery sector, so the scale of a potential supply disruption could be large, ANZ notes. The three-month LME contract for aluminum rises 2.1% to $3,642.0 a ton and the three-month nickel contract gains 4.1% to $26,935.0 a ton.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
03-03-22 0311ET
