Sterling Seen Vulnerable After BOE Statement
Sterling Seen as Vulnerable After BOE Statement
0714 GMT - Sterling looks vulnerable after the Bank of England
said it would assess the impact of new fiscal policy at its next
meeting instead of delivering an emergency interest rate rise as
some market participants expected, ING says. GBP/USD hit a record
low of 1.0349 on Monday following U.K. Treasury chief Kwasi
Kwarteng's mini-budget statement on Friday, prompting the BOE to
signal it could take action at its next scheduled meeting in
November. "But six-to-nine weeks is a long time in FX markets," ING
analyst Chris Turner says in a note. "We had felt that the BOE
would prefer to avoid getting sucked into defending the pound with
rate hikes." GBP/USD is last up 0.9% at 1.0788; EUR/GBP falls 0.4%
to 0.8947. (email@example.com)
SSE PLC Sees 1H Adjusted Earnings Per Share Rising; Backs
SSE PLC said Tuesday that it expects higher adjusted earnings
per share for the first half of the fiscal year, and backed its
United Utilities Sees Lower 1H Revenue Amid Inflation, Higher
United Utilities Group PLC said Tuesday that revenue for both
the first half and the full fiscal year ending March 31 are
expected to be lower on year amid the inflationary environment and
higher power prices.
UK Regulator to Examine Acquisition of National Grid Stake by
The U.K. competition regulator said Tuesday that it is
considering whether the acquisition of a 60% shareholding in
National Grid PLC by Macquarie Infrastructure and Real Assets
(Europe) Ltd. and British Columbia Investment Management Corp.
could lessen competition.
Weir Group Backs 2022 Views, Targets Operating-Margin Growth
Weir Group PLC said Tuesday that is taking initiatives to
increase operating margins beyond 2023, and backed its guidance for
the full year.
Contact: London NewsPlus; firstname.lastname@example.org
(END) Dow Jones Newswires
September 27, 2022 03:30 ET (07:30 GMT)
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