Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Pound Recovers Toward Pre-Budget Levels But Government Clarity Needed

09/30/2022 | 04:03am EST

Sterling Recovers Toward Pre-Budget Levels, But Government Clarity Is Needed

0739 GMT - Sterling erases much of its losses against the dollar since Friday's mini budget, reaching a one-week high of $1.209, according to FactSet, but the government needs to clarify its plans sufficiently to avoid renewed declines, MUFG's Derek Halpenny says in a note. This week's intervention by the Bank of England and news that Prime Minister Liz Truss and Chancellor Kwasi Kwarteng will meet today with the head of the Office for Budget Responsibility has calmed trading in sterling. A YouGov opinion poll showing collapsing support for the ruling Conservative Party could encourage parliament opposition to the budget, Halpenny says. Still, the U.K.'s hefty external financing burden underlines the urgent need for clarity, he says. (jessica.fleetham@wsj.com)

 
Companies News: 

Cineworld 1H Pretax Loss Narrowed After Easing of Covid-19 Restrictions

Cineworld Group PLC said Friday that its first-half pretax loss narrowed as revenue rose after the easing of remaining Covid-19 restrictions in the first quarter.

---

Morses Club Remained Materially Lossmaking in 1H Due to Redress Claims

Morses Club PLC said Friday that it continued to be materially lossmaking in the first half of fiscal 2023 due to redress claims in its HCC division, and raised material uncertainty concerns.

---

JD Sports, Nike Partner to Offer Customer Rewards

JD Sports Fashion PLC said Friday that it has partnered with Nike Inc. to offer customer rewards.

---

Pennon Says 1H Performance In Line With Expectations

Pennon Group PLC said Friday that its performance for the first half ending Sept. 30 is in line with management expectations amid a volatile macroeconomic backdrop.

---

Dignity Swung to 1H Loss After Pricing, Product Mix Changes

Dignity PLC said Friday that it swung to a pretax loss for the first half of 2022 after market normalization post-Covid-19, an impairment and a significant change to the pricing and product mix.

---

Science in Sport Hangs Up 'For Sale' Sign; To Raise GBP5 Mln via Discounted Placing

Science in Sport PLC said Friday that it has started a review of the business that could lead to the sale of the company or some assets, and plans to raise 5 million pounds ($5.6 million) to support the business in the event of a further downturn on the economy.

---

Numis Expects 33% Revenue Drop for FY 2022 on Weaker Capital-Markets Activity

Numis Corp. said Friday that it expects revenue to fall 33% in fiscal 2022 due to weaker capital-markets activity and a strong comparison in the previous year.

---

LoopUp Group 1H Revenue, Pretax Profit Fell

LoopUp Group PLC said Friday that revenue and pretax profit fell in the first half of the year.

---

Real Good Food Says Early FY 2023 Was Challenging; Volumes Slipped

Real Good Food PLC said Friday that market conditions in early fiscal 2023 have been challenging, with volumes down both on year and compared with prepandemic levels, and it expects to take further cost-cutting measures.

---

Live Company Group 1H Pretax Loss Narrowed as Revenue Soared

Live Company Group PLC on Friday said its first-half pretax loss narrowed as revenue jumped.

---

Ince Group Sees Lower Comparable 1H Performance But FY Trading to Increase

Ince Group PLC said Friday that its performance for the first half of fiscal 2023 isn't expected to show any improvement on a like-for-like basis compared with the same period a year earlier, but that trading activity for the year as a whole is on track to increase.

---

DP Eurasia 1H Pretax Profit, Revenue Rose; Current Performance in Line With Views

DP Eurasia NV said Friday that pretax profit and revenue rose in the first half of 2022, reflecting robust growth in system sales, and that it is performing in line with the expectations of the board.

---

Science in Sport 1H Pretax Loss Widened on Russia Exit, Costs, Supply-Chain Issues

Science in Sport PLC said Friday that its first half pretax loss widened as it was hit by external headwinds, and despite a rise in revenue.

---

Ukrproduct Swung to 1H Loss as Ukraine War Weighs

Ukrproduct Group Ltd. reported on Friday that it swung to a loss in the first half of the year as the war in Ukraine disrupted the business and hit revenue.

---

Mode Global Holdings 1H Revenue Hurt by Market Volatility

Mode Global Holdings PLC said Friday that its first-half revenue was hit amid market volatility, but reported a slightly narrowed pretax loss.

---

Trackwise 1H Pretax Loss Widened Due to Exceptional Costs; Seeks Additional Funding

Trackwise Designs PLC said Friday that its pretax loss widened for the first half after it booked exceptional costs, and that it will need additional funding.

---

Fox Marble Holdings 1H Pretax Loss Widened on Takeover Costs

Fox Marble Holdings PLC on Friday said its pretax loss widened in the first half of the year due to costs incurred as part of the reverse takeover of Eco Buildings Group Ltd.


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

09-30-22 0402ET

Stocks mentioned in the article
ChangeLast1st jan.
BRITISH POUND / US DOLLAR (GBP/USD) 1.50% 1.2257 Delayed Quote.-11.71%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.10% 0.7442 Delayed Quote.-6.96%
CINEWORLD GROUP PLC -1.81% 4.602 Delayed Quote.-85.35%
DIGNITY PLC -0.27% 370 Delayed Quote.-37.12%
DP EURASIA N.V. 1.59% 41.45 Delayed Quote.-52.78%
EURO / US DOLLAR (EUR/USD) 0.97% 1.0522 Delayed Quote.-9.20%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.23% 0.01232 Delayed Quote.-8.77%
JD SPORTS FASHION PLC 1.55% 128 Delayed Quote.-42.13%
LOOPUP GROUP PLC -1.94% 5.05 Delayed Quote.-73.59%
MODE GLOBAL HOLDINGS PLC 0.00% 2.05 Delayed Quote.-90.79%
MORSES CLUB PLC -0.34% 2.95 Delayed Quote.-95.53%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.90% 0.63671 Delayed Quote.-9.37%
NIKE, INC. 1.29% 111.11 Delayed Quote.-36.25%
REAL GOOD FOOD PLC 0.00% 1.85 Delayed Quote.-39.34%
SCIENCE IN SPORT PLC 0.00% 13.5 Delayed Quote.-80.29%
THE REAL GOOD FOOD COMPANY, INC. 0.70% 7.2 Delayed Quote.15.70%
TRACKWISE DESIGNS PLC -4.84% 14.75 Delayed Quote.-83.68%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.96% 61.2 Delayed Quote.-18.83%
Latest news "Economy"
05:57pU.S. Fed policy now more hawkish than policy rules suggest is needed
RE
05:52pCorrection to Financials Roundup
DJ
05:51pAustralia's Bigtincan gets $300 mln buyout bid from PE firm
RE
05:45pSpaceX gets U.S. approval to deploy up to 7,500 satellites
RE
05:43pFtx founder sam bankman-fried says he was pressured to include f…
RE
05:42pU.S. appeals court reverses appointment of special master in Trump documents probe
RE
05:42pUtilities Flat on Cyclical Bias -- Utilities Roundup
DJ
05:41pCommunications Services Up With Risk Appetite -- Communications Services Roundup
DJ
05:40pTech Up As Treasury Yields Retreat -- Tech Roundup
DJ
05:39pU.S. FDA declines to approve Y-mAbs's pediatric cancer drug
RE
Latest news "Economy"