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Sterling Likely to Remain Driven by External Factors

08/31/2021 | 05:54am EDT

Sterling Likely to Remain Driven by External Factors

0844 GMT - An absence of notable U.K.-specific drivers mean sterling's direction will be determined by external factors this week, ING says. GBP/USD has tracked a rise in EUR/USD since the start of the week due to a very light U.K. data calendar and no Bank of England speeches, ING analysts say. "A break above 1.3800 this week should, if anything, be driven solely by USD weakness, while EUR/GBP looks likely to keep trading within its recent narrow range for now." GBP/USD rises 0.1% to 1.3775, having earlier reached a two-week high of 1.3802 earlier as EUR/USD hit a three-and-a-half-week high of 1.1832, according to FactSet. EUR/GBP gains 0.1% to 0.8586.(renae.dyer@wsj.com)

 
Companies News: 

Bunzl Completes Two Spanish Acquisitions

Bunzl PLC said Tuesday that in July it completed the acquisition of two Spanish companies and that these broadened its safety offering and expanded its customer base in the country.

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Bunzl 1H Pretax Profit Rose 12%

Bunzl PLC on Tuesday reported an improved profit for the first half of the year.

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Non-Standard Finance CEO Steps Down, Replaced by CFO

Non-Standard Finance PLC said Tuesday that John van Kuffeler will step down from his role as chief executive officer with immediate effect.

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Sabien Technology FY 2021 Pretax Loss Narrowed

Sabien Technology Group PLC said Tuesday that its fiscal 2021 pretax loss narrowed after it booked lower costs and higher revenue.

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Computacenter Expects to Beat Market Views for 2021 Adjusted Profit

Computacenter PLC said Tuesday that it continues to expect its 2021 adjusted profit to be ahead of market views.

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88 Energy to Raise A$20 Mln to Fund Merlin-2 Well

88 Energy Ltd. said Tuesday that it intends to raise 20 million Australian dollars ($14.6 million) via a share issue to finance the Merlin-2 oil well in Alaska.

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Regional REIT Buys UK Property Portfolio for GBP236 Mln

Regional REIT Ltd. said Tuesday that it has acquired a portfolio of 31 U.K. property assets for 236 million pounds ($324.7 million) from Squarestone Growth LLP.

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FirstGroup Agrees on GBP300 Mln Sustainability-Linked Loan

FirstGroup PLC said Tuesday that it has agreed on a new 300 million-pound ($412.8 million) sustainability-linked revolving credit facility, and that this replaces all of its former committed syndicated and bilateral banking facilities.

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Lamprell Continues Talks for $90 Mln Working-Capital Facilities

Lamprell PLC said Tuesday it is continuing talks with three banks to secure $90 million of working-capital facilities, which are expected to be composed of two tranches and conclude in the third quarter and the fourth quarter, respectively.

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Zenith Energy Shares Rise on Deal to Buy Stake in Nigerian Oil Fields

Shares in Zenith Energy Ltd. rose Tuesday after it said it has entered into an exclusive deal to evaluate the acquisition of a stake in the North-West Corner of OML 141 oil project in Nigeria.

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Bigblu Broadband to Return GBP26 Mln to Shareholders, 1H Earnings Rose

Bigblu Broadband PLC said Tuesday that it would return 26 million pounds ($35.8 million) to shareholders, and reported a rise in first-half earnings and revenue.

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Jersey Oil & Gas Shares Fall After Change to Greater Buchan Area Project Schedule

Shares in Jersey Oil & Gas PLC fell Tuesday morning after the company said it will re-phase the development of its Greater Buchan Area project in the North Sea.

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Reabold Resources Shares Fall on Suspension of B-1Z Well in England

Shares in Reabold Resources PLC dropped in early trading Tuesday after it said that the B-1Z well at its West Newton project onshore England will be suspended after issues at the Kirkham Abbey reservoir.

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Raven Property Swung to 1H Pretax Profit

Raven Property Group Ltd. said Tuesday that it swung to a pretax profit for the first half after booking lower costs, and that it expects profitability in the second half to be affected by higher interest rates.

Contact: Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

08-31-21 0553ET

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