FTSE 100 Seen Opening Higher as Pound Hits Record Low
26 Septiembre 2022 - 02:26AM
Noticias Dow Jones
FTSE 100 Seen Opening Higher as Pound Hits Record Low Against
Dollar
0644 GMT - The FTSE 100 is expected to open higher as sterling
plunges to a record low against the dollar. IG futures data show
the London stocks index opening up 40 points. GBP/USD falls 1.9% to
1.0616, having hit a record low of 1.0349 overnight, according to
FactSet. A weaker pound usually supports the FTSE 100 due to the
large proportion of overseas earners on the index. "Traders have
lost their trust in [U.K.] lawmakers who are steering the
government," AvaTrade analyst Naeem Aslam writes, noting concerns
over how new fiscal support measures will be funded. "In addition,
the Bank of England has made a mistake after mistake, which has
further shattered the confidence in sterling," Aslam says.
(renae.dyer@wsj.com)
Companies News:
Unilever CEO Alan Jope to Retire at End of 2023
Unilever PLC said Monday that Chief Executive Officer Alan Jope
has decided to retire from the company at the end of 2023 after
five years in the role.
---
Anglo American Begins Copper Operations at Peru Site; Revises
Production Guidance
Anglo American PLC said Monday that it has started commercial
copper operations at its Quellaveco project in Peru, and narrowed
2022 guidance for copper from Chile.
---
GSK PLC Names Julie Brown as New CFO; Iain Mackay to Retire in
May
GSK PLC said Monday that it has appointed Julie Brown as its new
chief financial officer, replacing Iain Mackay, from May 2023.
---
Pendragon Gets 29 Pence/Share Takeover Offer From Hedin
Mobility
Pendragon PLC said Monday that it has received a
29-pence-a-share takeover offer from Hedin Mobility Group AB.
---
Babcock International Five-Month Performance in Line With
Views
Babcock International Group PLC said Monday that its performance
for the first five months of fiscal 2023 was within the board's
expectations, and that the market backdrop remains dynamic.
---
Sainsbury's Talks with LXI REIT Over Sale of 18 Stores
Collapse
J Sainsbury PLC said Monday that it is no longer in discussions
with LXI REIT PLC over the sale and leaseback of a portfolio of 18
supermarket stores, due to LXI's market volatility concerns.
---
Next Fifteen Swung to 1H Pretax Loss as Costs Increased
Next Fifteen Communications Group PLC said Monday that it swung
to a first-half pretax loss as costs increased.
---
Christie Group 1H Pretax Profit Rose on Strong Demand; Increases
Dividend
Christie Group PLC said Monday that its first-half pretax profit
and revenue rose amid strong demand, and raised its dividend.
---
RPS Agrees to New $690.1 Mln Takeover by Tetra Tech; Withdraws
WSP Recommendation
RPS Group PLC said Monday that it has agreed to a 636
million-pound ($690.1 million) offer from Tetra Tech Inc. and has
withdrawn its recommendation for the previously agreed WSP Global
Inc. takeover.
---
Likewise 1H Pretax Profit Fell as Costs Increased
Likewise Group PLC said Monday that pretax profit for the first
half fell as costs increased.
Market Talk:
Impact of Gilt Selloff on Eurozone Bonds Seen Contained, but
Better to Be Cautious
0633 GMT - The massive selloff in U.K. gilts on Friday should
have limited repercussion on the eurozone rates markets, though the
risk-off moves warrant caution, Rainer Guntermann, rates strategist
at Commerzbank, writes in a note. In particular, another record
print in eurozone HICP is due, he says, adding that this should
underpin market expectations of European Central Bank interest-rate
rises. The year-on-year eurozone HICP, due for release on Sept. 30,
is expected to rise to 9.7% this month from 9.1% in August, with a
rise in core inflation also forecast, according to The Wall Street
Journal's poll of economists. On Friday, U.K. gilt yields rose 20
to 40 basis points after the Debt Management Office raised its
debt-issuance target for 2022-2023 due to extra budget
expenditures. (emese.bartha@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
September 26, 2022 03:11 ET (07:11 GMT)
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