FTSE 100 Set to Open Flat After Upbeat Asia, US Trading
0638 GMT - The FTSE 100 index looks set to open largely
unchanged at 7510, according to IG futures data, following upbeat
trading in Asia and on Wall Street. Markets in Australia, mainland
China, Hong Kong and South Korea gain and the Dow closed 1.6% ahead
after a bigger-than-expected fall in headline U.S. inflation fueled
hopes of a softer approach to interest-rate rises by the U.S.
Federal Reserve. "U.S. markets had a strong session, with the
Nasdaq 100 leading the way higher, after U.S. CPI fell to 8.5% in
July, while core prices remained steady at 5.9%, a trend that has
continued with strong gains in Asia markets," CMC Markets analyst
Michael Hewson says in a note. (philip.waller@wsj.com)
Companies News:
Coca-Cola HBC Missed 1H Pretax Profit Views; 2022 Outlook Seen
Stronger
Coca-Cola HBC AG on Thursday reported a significant decline in
pretax profit for the first half of 2022, which came in below
market expectations, and said that, excluding Russia and Ukraine,
it expects to close the year with double digit organic revenue
growth.
---
Entain 1H Profit Fell on FX Losses; Sees 2022 Earnings
Rising
Entain PLC said Thursday that its first-half profit fell on
foreign exchange losses on retranslation of debt, though revenue
rose and it expects full-year earnings to rise.
---
M&G 1H Operating Profit Fell Amid Higher Market
Volatility
M&G PLC reported on Thursday a fall in first-half operating
profit and a swing to pretax loss, while the decrease in assets
under management was lower than expected despite a period of market
volatility.
---
Antofagasta 1H Profit Fell on Lower Copper Production,
Prices
Antofagasta PLC on Thursday reported a profit drop for the first
half of 2022 and reiterated recently-revised guidance for the full
year.
---
Spirax-Sarco Engineering 1H Pretax Profit Hit by Charges
Spirax-Sarco Engineering PLC on Thursday reported a 7.7% fall in
pretax profit for the first half of the year due to a number of
costs, including a restructuring charge related to its electric
thermal solutions business and an impairment on its Russian
operations.
---
Entain to Acquire 75% Stake in SuperSport Group
Entain PLC said Thursday that it has partnered with EMMA Capital
to acquire SuperSport Group from EMMA, valued at around 920 million
euros ($947.6 million).
---
OSB Group 1H Pretax Profit, Net Interest Income Rose; Outlook
Upgraded
OSB Group PLC reported on Thursday a significant rise in pretax
profit and net interest income for the first half of 2022 and said
that it has improved its full-year underlying net interest margin
guidance.
---
Marks Electrical Four-Month Revenue Rose Despite Strong
Competition
Marks Electrical Group PLC said Thursday that its performance
for the first four months of fiscal 2023 was robust despite a
challenging market backdrop.
---
Petrofac Reports 1H Loss, Says Performance Was in Line
Petrofac Ltd. on Thursday reported a loss for the first half of
the year, adding that its performance for the period was in line
with guidance.
---
Morses Club Takes Further Steps to Set Up Potential Scheme of
Arrangement
Morses Club PLC said Thursday that it has appointed an
independent chairperson to set up a new committee to represent
customers eligible to make redress claims and assist the company in
developing any potential scheme of arrangement in relation to
settling them.
---
Empiric Student 1H Pretax Profit Rose as Academic Year
Normalizes
Empiric Student Property PLC reported a robust increase in
pretax loss for the first six months of 2022, driven by an
improvement in fair value of investment property and reflecting the
normalization of the academic year as Covid-19-related impact
reduces.
---
Savills 1H Pretax Profit Slips on Higher Costs; Maintains 2022
Guidance
Savills PLC said Thursday that its first-half pretax profit
slipped on increased costs, though revenue rose, and maintained its
full-year expectations despite increased macroeconomic
uncertainty.
Market Talk:
Rio Tinto Doesn't Seem to See Simandou ESG as Key Challenge,
Says Macquarie
0504 GMT - Rio Tinto appears unfazed by concerns the Simandou
iron-ore development in Guinea might hurt its ESG credentials.
Speaking to analysts, CFO Peter Cunningham was very confident in
the mammoth iron-ore project, Macquarie analysts say in a note.
"Interestingly, Rio didn't see ESG performance at Simandou as a key
challenge for the company and believe it could contribute to the
project's overall ESG performance," say the analysts. They reckon
"this will be a focus area in the short to medium term, given the
complex and challenging operating environment in Guinea."
(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
---
Water Challenges a Focus for Rio Tinto Lithium Project
0453 GMT - Rio Tinto might need to build a desalination plant at
its Rincon lithium project in Argentina, Macquarie analysts say
following a sell-side analyst roundtable with finance chief Peter
Cunningham. The direct lithium-extraction technology to be used at
the site requires a large amount of water, and Cunningham
"indicated that water consumption will be a key consideration when
determining the scale" of the project, the analysts say. Cunningham
was optimistic on the lithium market outlook, underpinned by
accelerating EV penetration rates, they add.
(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
August 11, 2022 03:15 ET (07:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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