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.

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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.

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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.

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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.

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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.

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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).

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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.

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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.

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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.

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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.

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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.

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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)

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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)

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