London Stocks Seen Higher on Evergrande Hope as Fed Looms
22 September 2021 - 05:22PM
Dow Jones News
London Stocks Seen Opening Higher as Market Awaits Fed
Decision
0644 GMT - The FTSE 100 index is expected to open 63 points
higher, according to IG, having closed on Tuesday at 6980.98,
buoyed after an onshore unit of troubled Chinese property company
Evergrande said it would make an interest payment on time this
week. The information was "short on details" but nevertheless it
looks enough to boost European equities at the open, UniCredit
analysts say. Focus Wednesday will center on a Federal Reserve
policy announcement due after the European market close, where
investors will be watching for any details on plans to taper asset
purchases. The Fed will "probably be clear on the central bank's
commitment to start lowering bond purchases before year-end but
short on details about the pace and the composition of tapering,"
UniCredit says. (jessica.fleetham@wsj.com)
Companies News:
Halma Raises FY 2022 Guidance After 1H Exceeded Expectations
Halma PLC on Wednesday raised its profit guidance for the fiscal
year after a better-than-expected first half.
---
Entain Considers Improved GBP16.4 Bln Bid From DraftKings
Entain PLC said Wednesday that it is considering a new, improved
takeover bid from DraftKings Inc. after rejecting an earlier offer
from the U.S. digital sports-betting and entertainment company.
---
Saga Swung to 1H Pretax Profit; No Guidance Due to Pandemic
Saga PLC said Wednesday that it swung to a pretax profit for the
first half of fiscal 2022 after booking lower costs, and that it
wasn't giving any earnings guidance for the year given continued
uncertainty stemming from the pandemic.
---
SDI Group Current FY2022 Trading Slightly Ahead of Forecasts
SDI Group PLC said Wednesday that it has made a good start to
fiscal 2022, beating modestly its initial forecasts, and noted that
the board remains confident about delivering full-year results at
least in line with market expectations.
---
Ten Entertainment Sees 2021 Performance Ahead of Views After
'Exceptional' Summer
Ten Entertainment Group PLC said Wednesday that it expects
full-year performance to be ahead of previous internal expectations
after an exceptional summer.
Market Talk:
IAG Well Placed to Gain Share of Transatlantic Routes
0542 GMT - The U.S. announcing that it will allow
fully-vaccinated U.K. and European passengers to enter the country
from November, alongside the recent simplification of travel rules
in the U.K., should boost IAG's bookings, Bank of America Global
Research says. For the airline group--which owns British Airways
and Iberia among others--North America represented 29% of capacity
in 2019 and 21% of passenger revenue by point-of-sale, BofA says.
The company is well placed to gain share on transatlantic routes
given competitors' capacity cuts as well as its planned acquisition
of Spanish airline Air Europa, it says. "We forecast IAG ramps up
capacity from 45% of 2019 levels in 3Q to 65% in 4Q," the bank
says. BofA rates the stock at a buy.
(anthony.orunagoriainoff@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
September 22, 2021 03:07 ET (07:07 GMT)
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