FTSE 100 Seen Opening Higher as Traders Weigh China Data, Rate Cut

0642 GMT - The FTSE 100 is seen opening higher following a mixed session in Asia as investors digest Chinese economic data and an unexpected interest rate cut by the People's Bank of China. The London stocks index is expected to open up 33 points, according to IG. Chinese data on industrial production, retail sales and fixed asset investment were all weaker than expected while the PBOC cut its medium-term lending rate by 10 basis points to 2.75% on Monday. "The bank has taken this action to revive and stimulate growth as the country's housing sector has seen a serious downtrend, and other Covid-related lockdowns aren't helping," AvaTrade analyst Naeem Aslam writes. (renae.dyer@wsj.com)

 
Companies News: 

Treatt Lowers FY 2022 Pretax Profit Guidance Amid Inflation, Weaker US Consumer Sentiment

Treatt PLC said Monday that it is lowering its adjusted pretax profit guidance for fiscal 2022 after being hurt by a number of factors including lower consumer confidence in the U.S. and cost inflation.

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Echo Energy Raises GBP600,000 via Share Placing

Echo Energy PLC said Monday that it has now raised 600,000 pounds ($728,280) via the share placing announced on Friday.

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Phoenix Group on Track to Achieve Top End of 2022 Cash-Generation Target

Phoenix Group Holdings PLC said Monday that first-half operating profit remained at a similar level on a year-on-year basis and that it is on track to meet the top end of its full-year cash generation target.

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Safestay Swung to 2021 Pretax Profit After Lifting of Covid-19 Restrictions

Safestay PLC said Monday that it swung to a pretax profit for 2021 after Covid-19-related restrictions were lifted.

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TP Group 2021 Pretax Loss Widened on Higher Costs; Refinancing Process to Start in 2H

TP Group PLC said Monday that its 2021 pretax loss widened on higher costs, and that the board will start a group refinancing process in the second half of 2022 and will consider both debt and equity options.

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Inspiration Healthcare 1H Performance Robust on Strong Order Book

Inspiration Healthcare Group PLC said in an update Monday that performance has remained robust and consistent with management expectations for the six months ended July 31.

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Eckoh PLC 1Q Orders Were Substantially Higher on Year

Eckoh PLC said Monday that orders for the first quarter of the current fiscal year were substantially higher than the same period a year earlier and that it expects to report a significantly higher level for the half year.

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Gusbourne 1H Revenue More Than Doubled as Sales Recovered From Pandemic

Gusbourne PLC said Monday that revenue for the first six months of 2022 more than doubled, driven by a recovery in sales from pandemic effects.

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Seeing Machines Sees in-Line FY 2022 Revenue on Accelerated Growth Momentum

Seeing Machines Ltd. said in a performance update Monday that it foresees reporting revenue in line with expectations for fiscal 2022 after growth momentum accelerated.

 

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

(END) Dow Jones Newswires

August 15, 2022 03:06 ET (07:06 GMT)

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