FTSE 100 Rises as Strong BHP Results Help Lift Miners
16 Agosto 2022 - 3:30AM
Noticias Dow Jones
FTSE 100 Rises as Miners Rally After Strong BHP Results
0749 GMT - The FTSE 100 rises 0.3% to 7528 points as mining
shares gain following well-received results from the world's
biggest miner, BHP Group, while pharmaceutical giant
GlaxoSmithKline rallies after an acquisition announcement. BHP
posted its highest ever full-year profit on record commodity
prices, boosting sector peers including Glencore, Rio Tinto and
Anglo American. GSK rises 2.9% after saying it has completed the
acquisition of U.S. biopharmaceutical company Affinivax. Meanwhile,
investors digest the latest U.K. employment data. "June's labor
market figures revealed further evidence that the weaker economy is
leading to a slightly less tight labour market," Capital Economics
economist Ruth Gregory writes. "That said, by any metric the labor
market is still exceptionally tight."(renae.dyer@wsj.com)
Companies News:
AstraZeneca's Lynparza Supplemental New Drug Application Granted
Priority Review by FDA
AstraZeneca PLC said Tuesday that its supplemental new drug
application, or sNDA, for its cancer treatment, Lynparza in
combination with abiraterone, has been granted a priority review by
the U.S. Food and Drug Administration.
---
Abrdn Sells GBP225M Shareholding in HDFC Asset Management
abrdn PLC said Tuesday that it has sold 12.8 million shares in
HDFC Asset Management Co. for 225 million pounds ($271.2 million),
with the proceeds to be used for general corporate purposes.
---
Sage Group to Buy Lockstep for Undisclosed Sum to Drive
Growth
Sage Group PLC said Tuesday that it has agreed to buy cloud
accounting technology provider Lockstep for an undisclosed amount
to accelerate the growth strategy.
---
Watches of Switzerland 1Q Revenue Rose Amid Luxury Demand; Backs
FY 2023 Views
Watches of Switzerland Group PLC said Tuesday that its
performance for the first quarter of fiscal 2023 was robust as
demand for luxury products continues to increase, and reiterated
its previous guidance.
---
Ted Baker Agrees to $254.3 Mln Takeover by Reebok Owner
Authentic Brands
Ted Baker PLC said Tuesday that it has agreed to a 211 million
pound ($254.3 million) final cash offer from Juicy Couture, Reebok
and David Beckham brand owner Authentic Brands Group LLC.
Market Talk:
UK Labor Market Is No Longer Tightening as Hiring Demand
Falls
0741 GMT - Hiring demand in the U.K. is clearly falling, and
that is most evident from a decline in unfilled job vacancies, ING
developed markets economist James Smith says in a note. This trend
is likely to continue, according to more up-to-date online vacancy
numbers, Smith says. "Hiring demand is fading, but at the same time
the skill shortages and labor supply issues that have plagued the
jobs market for several months now are showing only limited signs
of improvement", Smith says. According to the economist, there
isn't much in the latest labor market figures that will stop the
Bank of England from hiking rates by 50 basis points again in
September. (maria.martinez@wsj.com)
UK Unemployment Rate Is Expected to Rise Soon
0713 GMT - The U.K. unemployment rate is no longer falling and
the timeliest indicators suggest that it will start to rise far
sooner than the Bank of England anticipates, Samuel Tombs, chief
U.K. economist at Pantheon Macroeconomics, says. "Labor demand is
stabilizing just as labor supply is picking up," Tombs says. The
workforce grew at a 195,000, or 0.6%, quarter-on-quarter rate in
June, well above its 0.2% average increase in the 2010s, according
to Pantheon. The rebound in the workforce has been driven by an
increase in immigration, now that Covid-19 is no longer influencing
migration decisions and more U.K. businesses have sponsor licences,
Tombs says. (maria.martinez@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
August 16, 2022 04:15 ET (08:15 GMT)
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