Market Situation In UK Is 'Fluid'
0816 GMT - Pimco sees the situation in the U.K. as "fluid," Konstantin Veit, portfolio manager and head of European rates at the asset manager, said in a webinar on Thursday. "The outcome will largely depend on future fiscal and monetary policy mix," he said. In the meantime, volatility is likely to remain high in the U.K. financial market, he said, adding that the government's fiscal package will add pressure on the Bank of England to increase its policy rate. The 10-year gilt yield is trading more than 25 basis points lower at 3.980%, according to Tradeweb, extending Thursday's rally on hopes that the U.K. government will reverse its recent tax-cutting plans. (emese.bartha@wsj.com)
Companies News:
Diageo to Increase Stake in East African Breweries to Up to 65%
Diageo PLC said Friday that it plans to increase its stake in East African Breweries PLC to up to 65% through a partial tender offer.
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Mondi 3Q Underlying Ebitda Rose, Expects Progress in Full Year
Mondi PLC said Friday that third-quarter underlying Ebitda rose 55%, and the despite expecting inflation to hit the fourth quarter, it sees a year of good progress.
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Loungers Early FY 2023 Sales Rose; Doesn't See Change in Consumer Spending
Loungers PLC said Friday that like-for-like sales grew 17% in the 24 weeks to Oct. 2 when compared with the year-prior period and that it hasn't seen changes in consumer spending.
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Premier Miton 4Q Assets Under Management Fell Amid Uncertain Market
Premier Miton Group PLC said Friday that assets under management fell in the fourth quarter of fiscal 2022, driven by client caution about committing new investment in an uncertain market.
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Town Centre Securities Swung to FY 2022 Pretax Profit; Seeks Disposals
Town Centre Securities PLC reported on Friday a swing to pretax profit in fiscal 2022 and increased its dividend payout, and said it is considering disposals to reduce debt.
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Comptoir Names Nick Ayerst as New CEO
Comptoir Group PLC said Friday that it has appointed Nick Ayerst as chief executive, effective Oct. 17.
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Revolution Beauty Chairman, CEO Temporarily Step Away for Investigation
Revolution Beauty Group PLC said Friday that Executive Chairman Tom Allsworth and Chief Executive Adam Minto have voluntarily stepped away from day-to-day management for now to support an independent investigation being carried out.
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Sabien Technology FY 2022 Pretax Loss Widened on Higher Costs
Sabien Technology Group PLC reported Friday that pretax loss for fiscal 2022 widened on higher costs, and said it is well placed to take its three main business lines to their next development stage in 2023 following a recent fundraise.
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Vistry Group's Board Reshuffles Amid Merger With Countryside Partnerships
Vistry Group PLC said Friday that a major change on its board of directors will take place from Nov. 11 as part of its merger with Countryside Partnerships PLC.
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Metals Exploration 3Q Gold Sales Fell; Sees 2022 Production at Lower End of Guidance
Metals Exploration PLC said Friday that its third-quarter gold sales slipped on-quarter on lower volumes and prices, and it expects full-year production to be at or slightly below the lower end of guidance.
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Royal Mail Warns of 5,000-6,000 Potential Job Cuts by Next August -- Update
U.K. postal service Royal Mail might require approximately 5,000 to 6,000 redundancies by the end of August 2023, its parent company International Distribution Services PLC said Friday.
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Vaalco Energy Completes Merger With TransGlobe Energy, to Buy Back Up to $30 Mln in Shares
Vaalco Energy Inc. said Friday that its business combination with TransGlobe Energy Corp. has been completed, and outlined a share buyback plan among other shareholder return plans.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
10-14-22 0439ET
