Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Sterling Seen Vulnerable After BOE Statement

09/27/2022 | 03:31am EST

Sterling Seen as Vulnerable After BOE Statement

0714 GMT - Sterling looks vulnerable after the Bank of England said it would assess the impact of new fiscal policy at its next meeting instead of delivering an emergency interest rate rise as some market participants expected, ING says. GBP/USD hit a record low of 1.0349 on Monday following U.K. Treasury chief Kwasi Kwarteng's mini-budget statement on Friday, prompting the BOE to signal it could take action at its next scheduled meeting in November. "But six-to-nine weeks is a long time in FX markets," ING analyst Chris Turner says in a note. "We had felt that the BOE would prefer to avoid getting sucked into defending the pound with rate hikes." GBP/USD is last up 0.9% at 1.0788; EUR/GBP falls 0.4% to 0.8947. (renae.dyer@wsj.com)

 
Companies News: 

SSE PLC Sees 1H Adjusted Earnings Per Share Rising; Backs Guidance

SSE PLC said Tuesday that it expects higher adjusted earnings per share for the first half of the fiscal year, and backed its full-year guidance.

---

United Utilities Sees Lower 1H Revenue Amid Inflation, Higher Power Prices

United Utilities Group PLC said Tuesday that revenue for both the first half and the full fiscal year ending March 31 are expected to be lower on year amid the inflationary environment and higher power prices.

---

UK Regulator to Examine Acquisition of National Grid Stake by Consortium

The U.K. competition regulator said Tuesday that it is considering whether the acquisition of a 60% shareholding in National Grid PLC by Macquarie Infrastructure and Real Assets (Europe) Ltd. and British Columbia Investment Management Corp. could lessen competition.

---

Weir Group Backs 2022 Views, Targets Operating-Margin Growth

Weir Group PLC said Tuesday that is taking initiatives to increase operating margins beyond 2023, and backed its guidance for the full year.


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

(END) Dow Jones Newswires

09-27-22 0330ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.05% 0.5521 Delayed Quote.3.59%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.02% 0.60412 Delayed Quote.3.81%
EURO / BRITISH POUND (EUR/GBP) 0.03% 0.85757 Delayed Quote.2.21%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.07% 0.010006 Delayed Quote.1.42%
MACQUARIE GROUP LIMITED -1.02% 180.24 Delayed Quote.-12.25%
NATIONAL GRID PLC -0.49% 1020 Delayed Quote.-3.76%
SSE PLC -0.98% 1723 Delayed Quote.4.49%
THE WEIR GROUP PLC -0.59% 1759.5 Delayed Quote.2.80%
UNITED UTILITIES GROUP PLC 0.29% 1049 Delayed Quote.-3.67%
US DOLLAR / BRITISH POUND (USD/GBP) -0.03% 0.81367 Delayed Quote.10.37%
Latest news "Economy"
05:26aBritain's Currys to avoid using Royal Mail 'for now' over strikes
RE
05:18aEarthquake of magnitude 5.7 strikes Gabon - EMSC
RE
05:08aJapan Meteorological Agency says no tsunami impact from Java volcano eruption-NHK
RE
05:07aAir pollution hurts Bangladesh GDP as well as health - World Bank
RE
05:04aOPEC+ heading for no policy change in Sunday talks - sources
RE
04:47aUkraine says ship with wheat for Ethiopia arrives, part of anti-famine push
RE
04:46aMoldova won't pay 50% gas advance to Gazprom by Dec. 20 -deputy PM
RE
04:39aBurkina Faso military government suspends broadcast of France's RFI radio
RE
04:10aIran executes four men convicted of cooperating with Israel - state media
RE
04:06a'There is no future': Lebanon's new poor face long-term stagnation
RE
Latest news "Economy"