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Sterling May Extend Rise Vs Dollar But Gains Won't Last

12/02/2022 | 05:07am EST

Sterling May Extend Rise Vs Dollar But Gains Won't Last

0944 GMT - Sterling could rise further against the dollar if the U.S. nonfarm payrolls report later fails to reverse the U.S. currency's downward trend but the exchange rate's gains will be limited, ING says. The data, due at 1330 GMT, may indicate the jobs market remained extremely tight, which may halt the dollar's fall but fail to invert it with the balance of risks "titled to the downside," ING analyst Francesco Pesole says in note. GBP/USD could rise to around 1.2300-1.2350 after the data, he says. However, it isn't factoring in the implications of rebounding gas prices and weak economic fundamentals so a "return to 1.1500 around the turn of the year seems appropriate," he says. GBP/USD rises 0.1% to 1.2275. (renae.dyer@wsj.com)

 
Companies News: 

Wizz Air Passenger Numbers Rose Significantly on Year in November

Wizz Air Holdings PLC said Friday that it carried significantly more passengers in November on year.

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Premier Miton FY 2022 Pretax Profit Fell as Assets Under Management Declined

Premier Miton Group PLC on Friday reported a fall in its full-year pretax profit as investors' reluctance to commit new investments in an uncertain market hit its assets under management, but said it has seen encouraging signs of recovery since the end of the period.

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Light Science Sees FY 2022 Revenue, Pretax Loss Missing Market Views

Light Science Technologies Holdings PLC said Friday that it expects to miss market forecasts for fiscal 2022 revenue and for pretax loss to be wider than consensus expectations, as clients face macroeconomic pressure.

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MetalNRG Gets Shareholder Request to Call Meeting to Remove Chairman, CEO

MetalNRG PLC said Friday it has received a request from shareholder Edward Spencer to call a general meeting seeking the removal of Chairman Christopher Latilla-Campbell and Chief Executive Rolf Gerritsen.

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Mind Gym 1H Pretax Profit, Revenue Rose on Favorable Currency Effects

Mind Gym PLC said Friday that pretax profit and revenue rose in the first half of fiscal 2023, boosted by favorable foreign-exchange rates.

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Goldplat Sells Remaining Shareholding in Caracal Gold

Goldplat PLC said Friday that it has sold its remaining shares in Caracal Gold PLC for an undisclosed sum.

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ScS Group CFO Chris Muir to Step Down

ScS Group PLC said on Friday that Chris Muir will be stepping down as chief financial officer but will remain with the company to work his 12-month notice.

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ASOS Interim CFO Katy Mecklenburgh to Step Down, Become Softcat CFO

ASOS PLC on Friday said its interim Chief Financial Officer Katy Mecklenburgh will step down from the role to become Softcat PLC's CFO after working her six-month notice.

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HeiQ Acquires Chem-Tex Laboratories for $2.5 Mln in U.S. Expansion

HeiQ PLC on Friday said it acquired North Carolina-based specialty chemicals company Chem-Tex Laboratories for $2.5 million as it seeks to expand in the U.S.

 
Market Talk: 

Berkeley Group's 1H Results Will Be Searched for Reassurance

0901 GMT - Berkeley Group is set to report its first-half results next Friday, and hopefully the company will address several issues that have seen its share price slide 10% lower on year, AJ Bell says. The house builder has ambitious plans for housing completions, profits and cash returns among others, but investors have raised concerns over the direction of the U.K. housing market, hits from input cost inflation and the potential lasting effects of the coronavirus pandemic, AJ Bell analysts say in a market comment. "September's upbeat trading update confirmed the guidance for both full-year profits and capital return plans provided alongside June's full-year results, and analysts and shareholders will doubtless be looking for further reassurance here," the brokerage says. Shares are up 0.7% at 3,872.0 pence. (joseph.hoppe@wsj.com)

Ondine's Steriwave Trial Results Expected But Reassuring

0855 GMT - Ondine Biomedical's results from its Phase 2 clinical trial of Steriwave show a statistically significant reduction in S. aureus bacteria in presurgical patients, which should meaningfully derisk upcoming Phase 3 trials, RBC Capital Markets says. The London-listed company's next important incremental piece of newsflow is set to be the agreement of Phase 3 trial design with the FDA, likely in the first quarter of 2023, RBC analysts say in a research note. "We expect these results to be reassuring for investors, but note that they have been largely communicated to the market already," the Canadian bank says. RBC retains its outperform rating and 60.0 pence price target on the stock. Shares are up 4.1% at 25.5 pence. (joseph.hoppe@wsj.com)


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

(END) Dow Jones Newswires

12-02-22 0506ET

Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC -4.98% 915 Delayed Quote.79.24%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.20274 Delayed Quote.-0.43%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.19% 0.74487 Delayed Quote.1.04%
CARACAL GOLD PLC 8.33% 0.325 Delayed Quote.-56.67%
EURO / US DOLLAR (EUR/USD) 0.03% 1.07331 Delayed Quote.0.81%
FLOKI INU (FLOKI/USD) 0.00%End-of-day quote.0.00%
GOLDPLAT PLC 0.00% 10.25 Delayed Quote.0.00%
HEIQ PLC 2.27% 33.75 Delayed Quote.-38.64%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.09% 0.012098 Delayed Quote.0.62%
LIGHT SCIENCE TECHNOLOGIES HOLDINGS PLC -5.56% 4.25 Delayed Quote.21.43%
METALNRG PLC 0.00% 0.0675 Delayed Quote.-20.59%
MIND GYM PLC 1.97% 77.5 Delayed Quote.-8.82%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.12% 0.6315 Delayed Quote.-0.36%
PREMIER MITON GROUP PLC 5.50% 128 Delayed Quote.24.27%
SCS GROUP PLC -1.33% 222 Delayed Quote.37.89%
SOFTCAT PLC -1.30% 1287 Delayed Quote.8.70%
THE BERKELEY GROUP HOLDINGS PLC -2.22% 4266 Delayed Quote.13.07%
US DOLLAR / BRITISH POUND (USD/GBP) -0.01% 0.831532 Delayed Quote.0.43%
WIZZ AIR HOLDINGS PLC -1.18% 2851 Delayed Quote.49.70%
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