Sterling Faces Hit From Prospect of Pause in UK Rate Rises

Sterling Faces Hit From Prospect of Pause in UK Rate Rises

1009 GMT - Sterling recovers slightly after losses in the previous session following lower-than-expected U.K. inflation data but faces renewed downside on the prospect of the Bank of England soon pausing interest rate rises, Commerzbank says. U.K. inflation eased to 10.1% year-on-year in January from 10.5% in December, which triggered a decline in rate expectations, Commerzbank currency analyst Esther Reichelt says in a note. "The weaker inflation figures should be just what [the BOE] needs to signal an early pause in interest rates." GBP/USD rises 0.1% to 1.2045 after hitting a one-week low of 1.1989 on Wednesday, according to FactSet. EUR/GBP falls 0.1% to 0.8878 after reaching a one-week high of 0.8905 on Wednesday.([e-mail])

 
Companies News: 

Centrica Swung to 2022 Net Loss on Negative Remeasurements; Extends Buyback

Centrica PLC said Thursday that it swung to a net loss in 2022 on negative remeasurements of energy contracts, restarted its final dividend and extended its share buyback program.

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RELX 2022 Pretax Profit Rose But Failed to Meet Consensus

RELX PLC said Thursday that 2022 pretax profit rose due to higher adjusted pretax profit but failed to meet consensus, and that momentum remained strong across the group.

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SSP Group Had Strong Start to FY 2023 Boosted by Travel Recovery, Contracts

SSP Group PLC said Thursday that it has had a strong start to the new fiscal year with revenue exceeding pre-pandemic 2019 levels, driven by a continued recovery in passenger numbers, with strong demand over the holiday season, and new contracts.

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M.J. Gleeson 1H Profit, Revenue Fell on Land Unit Slip; Sees Reservations Improving

M.J. Gleeson PLC said Thursday that its first-half pretax profit and revenue fell on a drop in its Land unit profits, and said reservation rates are recovering.

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OnTheMarket Shareholder to Sell 3.1 Mln Shares at 76 Pence Each

OnTheMarket PLC said Thursday that Link Market Services is selling 3.1 million of the company's shares on behalf of Morgan Ross at 76 pence (91 cents) each.

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Indivior Swung to 4Q Pretax Loss on Exceptional Litigation Provision

Indivior PLC said Thursday that it swung to a fourth-quarter pretax loss after booking an exceptional provision, and that it expects 2023 to be another year of progress.

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Moneysupermarket.com 2022 Pretax Profit Rose On Travel Recovery, Money Volumes

Moneysupermarket.com Group PLC on Thursday posted an increase in its 2022 pretax profit driven by recovery in travel channels and strong trading volumes in money, and said it is confident in meeting views for the year ahead.

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Centrica Swung to 2022 Net Loss Although Adjusted Profit Soared; Extends Buyback -- Update

Centrica PLC said Thursday that it swung to a net loss in 2022 on negative remeasurements of energy contracts, though adjusted profits soared, restarted its final dividend and will extend its share-buyback program.

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Creo Medical Seeking to Raise GBP30.2 Mln to Maintain Business Momentum

Creo Medical Group PLC said Thursday that it is planning to raise around 30.2 million pounds ($36.3 million) via a share placing, subscription and shareholder open offer and will use the money to maintain momentum in the business.

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Kerry Group 2022 Profit Fell Despite Increased Revenue; Expects Growth in 2023

Kerry Group PLC said Thursday that its 2022 pretax profit fell although revenue rose, and that it expects to achieve growth in 2023.

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Bank of Georgia Increases Share Buyback Program, to Recommend Dividend

Bank of Georgia Group PLC on Thursday said that its board has approved an up to 148-million Georgian lari ($55.2 million) increase in its share buyback and cancellation program and that it intends to recommend a final dividend of GEL5.8 per share payable in pounds.

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Jaywing Shares Fall on Expected FY 2023 Earnings Miss, Revenue Slip

Jaywing PLC shares fell Thursday after the company said it expects fiscal 2023 earnings to rise but remain below market expectations, and revenue to slip on delayed client spending.

 
Market Talk: 

Moneysupermarket.com Disappoints With Doubts About 2023 Energy-Switching

0944 GMT - Moneysupermarket.com Group shares fall by as much as 9.6% in morning trading after the price-comparison website posted 2022 results that were "simply not enough," AJ Bell says in a market comment, noting that investors are picking holes in the print despite double-digit growth in revenue and profit. "There have been some suggestions in recent days that energy switching activity could restart from July. Moneysupermarket has poured cold water over that thought by saying it is unlikely that energy switching will return this year, and that's likely to have spooked investors hoping for a big part of its business to start earning again," says investment director Russ Mould. Shares trade 3.3% lower at 227.6 pence. ([e-mail])

Standard Chartered's Upbeat Outlook Provides Scope for Upgrades

0835 GMT - Standard Chartered's encouraging guidance implying further growth suggest an upside risk to consensus, says Shore Capital in a note, adding shares remain fundamentally undervalued. "Although the results were disappointing, the outlook is upbeat, with management noting that the pace of economic recovery in its markets is encouraging following the recent opening up of China," says analyst Gary Greenwood. The bank's 2022 earnings missed consensus expectations but the benefits of rising interest rates add to the optimism for the period ahead, says the analyst. Shore has a buy rating on the stock. Shares rise 2.8% at 749.6 pence. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

02-16-23 0536ET