Risk Appetite Boosts Pound, But BOE Meeting Poses a Risk
1104 GMT - Improved global risk appetite--caused by China reopening, resilience among European economies, falls in energy prices and expectations that rate rises could pause soon--has lifted the pound recently, but this week's Bank of England meeting could cause it to fall, MUFG says. The BOE is expected to raise rates by 50 basis points on Thursday, but MUFG sees a significant risk of a smaller 25bps increase or at least "a stronger signal that the pace of hikes will be stepped down," MUFG currency analyst Lee Hardman says in a note. Resulting falls in the pound might be limited due to support from risk sentiment, however, he says. GBP/USD rises 0.2% to 1.2411, though EUR/GBP rises 0.2% to 0.8792. (jessica.fleetham@wsj.com)
Companies News:
Unilever Appoints Hein Schumacher as New CEO
Unilever PLC said Monday that it has appointed Hein Schumacher as its new chief executive officer, replacing Alan Jope who announced in September his plan to retire from the company.
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Shell to Reduce Size of Executive Committee to Improve Performance
Shell PLC said Monday that it will reduce its executive committee from nine to seven members to further simplify the organization and improve performance.
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Legal & General CEO Nigel Wilson to Retire
Legal & General Group PLC said Monday that Chief Executive Nigel Wilson plans to retire from the board after 10 years in the role, and that it will start the search for his replacement.
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SThree FY 2022 Pretax Profit Rose on Record Net Fee Performance
SThree PLC said Monday that pretax profit for fiscal 2022 rose as it booked record net fee performance.
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888 CEO to Immediately Leave Role
888 Holdings PLC said Monday that Chief Executive Itai Pazner will immediately leave his role.
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Finsbury Food Buys Lees Foods for GBP5.7 Mln
Finsbury Food Group PLC said Monday that it has bought confectionery maker Lees Foods Ltd. for 5.7 million pounds ($7.1 million) in cash.
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Capital & Counties Properties Says Business Conditions Have Been Positive
Capital & Counties Properties PLC said Monday that trading conditions across the Covent Garden estate have been positive over the past year, with Christmas like-for-like customer sales exceeding prepandemic levels.
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Shaftesbury 1Q Occupier Levels Rose; Declares Interim Dividend
Shaftesbury PLC on Monday said its first-quarter occupier turnover was 42% higher than the previous year when it was affected by the Omicron coronavirus variant, and declared an interim dividend.
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888 Suspends Some Online Activities Amid Compliance Investigation
888 Holdings PLC said Monday that it has suspended VIP activities in certain online markets pending the outcome of an internal compliance investigation.
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Computacenter Sees 2022 Result Slightly Ahead of Guidance
Computacenter PLC said Monday that it expects its 2022 performance to be slightly ahead of guidance after a strong fourth quarter but anticipates inflationary pressures to continue into 2023.
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Civitas Social Housing Sees Continued Rent Growth in 3Q
Civitas Social Housing PLC said Monday that received rents have continued to grow in its third quarter, with collections in line with expectations.
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Personal Group 2022 Revenue Rose; Sees Profitable Growth in 2023
Personal Group Holdings PLC said Monday that revenue grew in 2022 and that it expects profitable growth in 2023.
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Unilever Taps Dairy Boss as New CEO -- Update
By Peter Stiff
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Centralnic to Report Record Revenue, Market-Beating Earnings for 2022
Centralnic Group PLC said Monday that it expects to report record revenue for 2022 and to beat market forecasts, driven largely by the growth of the online marketing segment.
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DP Eurasia Expects to Beat 2022 Adjusted Ebitda Views After Jump in Sales
DP Eurasia NV said Monday that it expects to beat adjusted core profit expectations for 2022 as it reported a rise in group system sales for the year.
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Impellam Sees 2022 Results Ahead of Views, Declares Special Dividend After Disposal
Impellam Group PLC on Monday said it sees 2022 results come in ahead of expectations and that it is selling its regional specialist and healthcare staffing businesses, leading it to declare another special dividend of 77.7 pence per share once the transaction is completed.
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Sopheon to Report Market Beating 2022 Revenue, Adjusted Ebitda
Sopheon PLC said Monday that it expects to report a rise in 2022 revenue and adjusted Ebitda and to beat market forecasts.
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Inspired Energy Shares Rise as 2022 Revenue, Ebitda Expected to Beat Forecasts
Shares of Inspired Energy PLC rose as much as 15% in early trade on Monday after the company said that its 2022 revenue beat market expectations on a strong final half of the year and a higher-than-than expected growth in its optimization services.
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Norcros CEO to Step Down; Replacement Appointed
Norcros PLC said Monday that Chief Executive Nick Kelsall has decided to retire after 30 years with the company, and that Thomas Willcocks has been appointed as his successor.
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Lenta Sales Rose 11% in 2022
Lenta PLC said Monday that sales rose 11% on year in 2022, despite lower consumer confidence denting its fourth-quarter results.
Market Talk:
Unilever's New CEO Might Sharpen Business Focus
1059 GMT - Unilever is in need of a clearer strategy as well as improved organic growth and its new CEO's background provides hints that he might be able to achieve this, AJ Bell investment director Russ Mould says in a note." In the five years since running dairy cooperative Royal FrieslandCampina, he has readjusted the company and its portfolio and tightened its focus on growth and sustainable business," he says. Schumacher joins a company that has become a "sprawling empire" and is in need of a sharper focus instead of jumping into new areas, Mould says. Schumacher also has to rebuild confidence with investors and set out a plan for the business over the next decade, Mould says. (michael.susin@wsj.com)
L&G's Next CEO Will Have a Tough Act to Follow, Citi Says
1054 GMT - Legal & General's next CEO will have big shoes to fill, Citi says in a note after the insurance company said CEO Nigel Wilson will retire once his replacement has been found. "Although not completely unexpected, Sir Nigel's announced retirement is sooner than many expected. His commitment to manage a smooth transition is helpful; however he has become synonymous with L&G over the years and will prove a tough act to follow, whether by an internal or external candidate," analyst Andrew Baker says. Shares fall 2.8% at 253.4 pence. (elena.vardon@wsj.com)
Unilever's New CEO Shines Light on Foods Business
1042 GMT - Unilever's incoming CEO brings frontline experience at major blue-chip public companies, Jefferies analyst Martin Deboo says in a note. But Hein Schumacher is a "foods guy", which leads to questions on where he stands regarding the relative attractiveness of Unilever's foods business as well as the merits of a split between the foods division and the home and personal care segment, Deboo says. Jefferies has a buy rating on the stock and a price target of 4,500 pence. (michael.susin@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
01-30-23 0625ET
