UKX FTSE 100 Index

London Stocks Seen Opening Little Changed

0744 GMT - The FTSE 100 index is expected to open flat, according to IG, having closed on Thursday at 7466.60, as concerns about the possibility of Covid-19 restrictions continuing in China keep sentiment subdued. In Asian trade, most indices declined "as a rise in China's Covid cases to another record high dented sentiment. This pushes hopes of a full reopening of the Chinese economy even further away," IG analysts write. Thin liquidity is likely to mean moves will be limited, with trade staying quiet on the day after the U.S. Thanksgiving holiday. "Investors will be asking whether equities can find fresh reasons to continue their recent recovery," given U.S. interest rates are set to rise further, IG says. (jessica.fleetham@wsj.com)

 
Companies News: 

SSE PLC to Sell 25% Stake in SSEN Transmission for GBP1.47 Bln

SSE PLC said Friday that it will sell a 25% stake in its electricity transmission network business SSEN Transmission to Ontario Teachers' Pension Plan Board for 1.47 billion pounds ($1.78 billion).

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Breedon Revenue in 10-Months to October Rose; Sees 2022 Meeting Guidance

Breedon Group PLC said Friday that revenue in both the four months to the end of October and the first 10 months of the year rose on year, and it backed its full-year expectations.

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Devro Agrees to GBP540 Mln Takeover

Devro PLC said Friday that it has agreed to a 540 million pound ($654.3 million) takeover by Saria SE & Co. KG through its subsidiary Saria Nederland BV.

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LPA Flags FY 2022 Trading Loss Despite Upswing in 2H

LPA Group PLC said Friday that it will make a small trading loss for the year, despite a strong second half with improved trading on year.

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ScS Group Sees FY 2023 Performance in Line With Views, 16-Week Orders Fell

ScS Group PLC said Friday that like-for-like order intake for the 16 weeks to Nov. 19 fell given a tough comparative, but added that full-year performance is in line with expectations despite the challenging backdrop.

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Devro Upbeat on Prospects as Volume, Pricing Drive Revenue Higher

Devro PLC said Friday that it is confident for the full year and further ahead, as revenue and margins rise across markets.

 
Market Talk: 

Lloyds Banking's Cost Control, Offering Prompts Upgrade, RBC Says

0627 GMT - Lloyds Banking's better cost control and asset quality compared with peers is expected to be rewarded by the market, RBC Capital Markets analyst Benjamin Toms and associate Pablo de la Torre Cuevas say in a note. As deposit betas--the rates that banks have to pass onto their customers--are likely to start increasing, LLoyds should be able to keep betas lower for longer given its better digital banking and branch offering, the analysts add. "We prefer banks like Lloyds Banking that have prioritized absolute cost control over jaws progression," they say. RBC upgrades the rating on the stock to outperform from underperform and price target to 57 pence from 44 pence. (michael.susin@wsj.com)

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

(END) Dow Jones Newswires

November 25, 2022 03:02 ET (08:02 GMT)

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