UKX FTSE 100 Index

FTSE 100 Falls as China Protests Worry Investors; Oil Stocks Drop

0918 GMT - The FTSE 100 index falls 0.7% to 7432.37 as protests in China over the government's continued coronavirus-related restrictions unsettles investors, causing oil prices to fall and leaving oil-linked stocks among the biggest fallers. BP falls 1.9% while Shell is down 1.7%. "Unrest in major cities in China has destabilised risk-on markets including oil which is under pressure, pushing BP and Shell towards the bottom of the U.K. index," writes Victoria Scholar, head of investment at Interactive Investor. Persimmon shares fall 3.4%, with analysts citing reported comments from property website Zoopla that the U.K. housing market is slowing. (jessica.fleetham@wsj.com)

 
Companies News: 

Superdry in Talks With Bantry Bay Over Replacing GBP70 Mln Line of Credit

Superdry PLC said Monday that it is in negotiations with specialist lending provider Bantry Bay Capital Ltd. to replace its existing asset-backed lending line of credit of up to 70 million pounds ($84.7 million), which expires in January.

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PensionBee Group Assets Under Administration Top GBP3 Bln

PensionBee Group PLC said Monday that it has achieved assets under administration of over 3 billion pounds ($3.63 billion) in November due to high customer retention and strong net inflows.

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Brickability 1H Pretax Profit, Revenue Rose; Backs Full-Year Market Views

Brickability Group PLC said Monday that pretax profit and revenue in the first half of fiscal 2023 both significantly rose on a strong performance across all group divisions, and backed full-year market expectations.

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Yu Group Expects 2022 Results Ahead of Market Forecasts

Yu Group PLC expects to report revenue, adjusted earnings and operational cashflow above market expectations for 2022, citing an "exceptional trading performance" that should continue into the new year.

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Inspiration Healthcare's FY 2023 Sales Not Expected to Beat Prior Year

Inspiration Healthcare Group PLC said Monday that sales for the fiscal year ending in January are unlikely to significantly exceed the same period a year earlier, with Ebitda for the second half expected to be less than the first.

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Condor Gold to Raise up to GBP4.2 Mln via Loan Note Issue, Open Offer

Condor Gold PLC said Monday that it is planning to raise up to 4.2 million pounds ($5.1 million) via a loan note issue and shareholder open offer which will be used for working capital and to cover short term overheads.

 
Market Talk: 

Irish Bonds May Look Expensive but Have Room for Further Gains

0808 GMT - Irish 10-year government bonds look expensive relative to their credit rating and are already trading like bonds of an 'AA+/AA'-rated country, Danske Bank's analysts say. "However, looking at debt-to-GDP, there is room for more performance in Ireland (although debt-to-GNI is probably a more correct measure)," they write in a note. Using the debt-to-GNI [gross national income], Irish government bonds look fairly priced, they say. On Nov. 18, S&P Global Ratings affirmed Ireland's 'AA-' rating and raised the outlook to positive from stable. Danske's analysts recently closed a long position in Irish bonds but they recommend using an expected syndication in January to go long Ireland again. The 10-year Irish bond yield is down about 3 basis points at 2.381%, according to Tradeweb. (emese.bartha@wsj.com)

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

(END) Dow Jones Newswires

November 28, 2022 04:38 ET (09:38 GMT)

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