Sterling Gains Ahead of Expected BOE Rate Rise
0819 GMT - Sterling rises as the Bank of England is expected to raise interest rates further in a decision at 1200 GMT Thursday. The BOE is widely expected to lift its key rate by 25 basis points, although the market sees a slight possibility of a bigger 50 basis-point rise, Danske Bank analysts say. The BOE will likely opt for a 25bp rise given elevated uncertainty over the Ukraine crisis while reiterating that more increases are needed to tame inflation, they say. "We see a potential for a slight move higher in EUR/GBP if we are right about our call given the current market pricing." EUR/GBP falls 0.1% to 0.8381 and GBP/USD rises 0.2% to 1.3175 after earlier hitting a one-week high of 1.3183. (renae.dyer@wsj.com)
Companies News:
Harbour Energy Swung to 2021 Profit as Gas Prices Soared
Harbour Energy PLC on Thursday reported a swing to a profit for 2021, as higher gas prices boosted revenue from its fields.
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AstraZeneca Agrees on Settlement With Chugai Pharmaceutical; To Pay $775M
AstraZeneca PLC said Thursday that its rare-disease group, Alexion, has agreed on a settlement with Chugai Pharmaceutical Co. that resolves all patent disputes related to Ultomiris, and that it will make a payment of $775 million in the second quarter.
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Cineworld Loss Narrowed in 2021 as Admissions Bounced Back
Cineworld Group PLC on Thursday reported a narrowed loss for 2021, as its performance partially recovered from the effect of the pandemic in 2020.
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Deliveroo 2021 Pretax Loss Widened; Sees 2022 Lower Growth on Market Uncertainties
Deliveroo PLC on Thursday said that 2021 pretax loss has widened despite higher revenue and also warned that it expects market uncertainties to reduce growth in 2022.
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Ceres Power 2021 Loss Widened Despite Revenue Growth of 44%
Ceres Power Holdings PLC on Thursday reported a widened loss for 2021 but forecast that strong top-line growth will continue this year.
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Helios Towers 2021 Pretax Loss Widened Significantly on Higher Costs
Helios Towers PLC on Thursday reported a significantly widened pretax loss for 2021, a result of higher costs as well as movements in the company's derivative financial instruments that reflect the embedded call option in its bond.
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Marshalls's 2021 Pretax Profit Soared, Sees 2022 Ahead of Views
Marshalls PLC reported Thursday a jump in 2021 pretax profit, announced a dividend payout and said it expects a robust 2022.
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OSB Group's 2021 Pretax Profit Rose; Outlook Seen as Positive
OSB Group PLC reported Thursday a significant rise in pretax profit for 2021 amid an improved outlook and said that it faces the future with optimism.
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PensionBee 2021 Pretax Loss Widened; Backs 2022 Views
PensionBee Group PLC said on Thursday that 2021 pretax loss widened as it booked higher costs, and that it reiterated its 2022 and medium-term guidance.
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Ocado Lowers FY 2022 Outlook as 1Q Retail Revenue Falls on Changing Customer Habits
Ocado Group PLC reported on Thursday a decline in sales in the first quarter of fiscal 2022 as pandemic restrictions eased and more customers returned to office working and said that it is lowering its full-year outlook as a result.
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National Express Urges Stagecoach Shareholders to Take No Action on DWS Offer
National Express Group PLC said Thursday that it encouraged Stagecoach Group PLC shareholders to take no action on a rival offer from DWS as it materially undervalues the company, and that a National Express-Stagecoach combination represents a superior value-creation opportunity.
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EMIS Group Says It Is Poised for Another Strong Year After 2021 Results
EMIS Group PLC on Thursday reported resilient results for 2021, and said it is building growth momentum and is well positioned for another strong performance in 2022.
Market Talk:
UK 10Y Gilt Yield Falls Slightly Ahead of BOE Rate Decision
0828 GMT - The yield on the benchmark U.K. 10-year government bond, or gilt, falls slightly ahead of the Bank of England's monetary policy decision at 1200 GMT Thursday. The BOE is widely predicted to raise its base rate by 25 basis points to 0.75% as it battles to bring down inflation from a 30-year high. The 10-year gilt yield trades last at 1.609%, down from the prior day's close at 1.635%, although it remains close to its highest levels since October 2018, according to Tradeweb. (lorena.ruibal@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
03-17-22 0445ET
