Tight UK Labor Market Raises Odds of 50-Basis-Points Rate Hike

Tight UK Labor Market Raises Odds of 50-Basis-Points Interest Rate Increase

0724 GMT - U.K. employment data for May and June paint a picture of a still very tight labor market, paving the way for a 50-basis-point increase in interest rates in August, RSM U.K. economist Thomas Pugh says in a note. "Combine this with soaring inflation, which is likely to have reached 9.3% in June, and the surprise upward revisions to the GDP data and we think a 50-basis-point hike next month is now more likely than not," he says. Softer economic growth in 2H will dampen demand for labor, but a smaller pool of available workers is likely to keep the job market tight for at least the next two years, Pugh says. ([e-mail])

 
Companies News: 

Babcock International to Sell Part of Aerial Emergency Services Business for EUR136.2 Mln

Babcock International Group PLC said Tuesday that it has agreed to sell parts of its aerial emergency-services businesses for 136.2 million euros ($138.2 million) to funds managed by Ancala Partners LLP.

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Pebble Group Expects to Beat 2022 Expectations

Pebble Group PLC said Tuesday that it expects to perform ahead of current market expectations for 2022.

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Informa Sees Significant 1H Growth, Backs Full-Year Guidance

Informa PLC said Tuesday that it expects significant underlying revenue and adjusted operating profit growth in the first half, backed its full-year guidance and said it has acquired Industry Dive as part of its expansion plans.

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Liontrust Asset Management 1Q Assets Under Management Increased

Liontrust Asset Management PLC said Tuesday that assets under management increased in the first quarter of fiscal 2023, adding that it remains confident about the long-term outlook of its investments.

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Darktrace Expects FY 2022 Revenue Increase on Strong Demand

Darktrace PLC said Tuesday that it expects to report a rise in revenue for fiscal 2022 after booking strong demand.

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Hyve Group to Get GBP3 Mln on Ukrainian Business Sale

Hyve Group PLC said Tuesday that it will sell its Ukrainian business to ProExpo (Europe) Ltd. for up to 3 million pounds ($3.6 million) in a management buy-out.

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Yu Group Expects 1H Performance to Be Boosted by Investments Made

Yu Group PLC said Tuesday that it expects revenue to rise significantly in the first half of the year, driven by investments made in its systems and processes and despite the pressures facing the energy industry, with growth expected to continue throughout the year.

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Photo-Me International 1H Pretax Profit Rose as Costs Fell; Sees FY 2022 Revenue Growth

Photo-Me International PLC said pretax profit for the first half of fiscal 2022 rose after it booked lower costs, and that it expects revenue growth of at least 20% for the fiscal year.

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Wise 1Q Revenue Growth Boosted by Rise in Active Users, Volume

Wise PLC said Tuesday that growth in revenue for its first quarter of fiscal 2023 was supported by an increase in users and volume.

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Made.com Downgrades 2022 Guidance After 1H Sales Fell

Made.com Group PLC said Tuesday that sales in the first half of 2022 declined significantly on year amid worsening consumer sentiment, and that it is downgrading its guidance for the whole year.

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Biffa Awarded 10-Year Contract in Scotland

Biffa PLC said Tuesday that it has been awarded a 10-year contract to provide logistics, sorting and counting services in Scotland.

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Informa Sees Significant 1H Growth, Backs Full-Year Guidance -- Update

Informa PLC said Tuesday that it expects significant underlying revenue and adjusted operating profit growth in the first half, backed its full-year guidance and said it has acquired Industry Dive as part of its expansion plans.

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Kier Group Sees FY 2022 Results in Line Despite Macro Pressures

Kier Group PLC said Tuesday that it expects results for fiscal 2022 to be in line with management's expectations despite macroeconomic pressures.

 
Market Talk: 

Informa's Results, Update Offer Encouragement Across the Board

0738 GMT - Informa's strong first-half results came coupled with an update on mergers and acquisitions, and across the board there looks to be encouraging news, Citi says. The events and business-intelligence group's results were comfortably ahead of market views and full-year guidance has been maintained, though commentary on its outlook suggests the company would have raised guidance on an underlying basis if it weren't for uncertainty in China, Citi analysts say in a research note. "The company also indicates that [full-year] guidance excludes the impact of the Industry Dive transaction, which should be accretive [as it is cash finance for a profitable business]," the U.S. bank says. Citi retains its buy rating on the stock with a 725-pence price target. Shares are up 3.6% at 556.4 pence. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

07-19-22 0354ET