London Stocks to Tumble as New Covid-19 Variant Sparks Alarm
26 November 2021 - 07:22PM
Dow Jones News
London Stocks Seen Opening Sharply Lower as New Covid-19 Variant
Sparks Alarm
0748 GMT - The FTSE 100 is expected to open around 197 points
lower, according to IG, having closed Thursday at 7310.37 as news
of a new, fast-spreading Covid-19 variant which may evade immunity
sparks alarm and causes investors to flee risky assets. "Global
risk sentiment was hit overnight by rising fears of a new possibly
highly transmittable COVID-19 variant/mutation called B.1.1.529
that has been observed in South Africa," Danske Bank says. The
World Health Organization will hold a meeting on the variant on
Friday. Meanwhile, some stocks may be hurt by news that U.K. car
manufacturing fell 41% in October--its worst for the month since
1956--as global chip shortages hurt production, according to the
Society of Motor Manufacturers and Traders.
(jessica.fleetham@wsj.com)
Companies News:
Blue Prism Agrees to Increased GBP1.22 Bln Takeover by Vista
Funds
Blue Prism Group PLC said late Thursday that it has agreed to
and recommended an increased 1.22 billion-pound ($1.63 billion)
final offer from Bali Bidco Ltd., a company indirectly owned by the
Vista Funds.
---
Diageo Starts Next Tranche of Return to Capital Program
Diageo PLC said Friday that that it has started the next tranche
of its return of capital program of up to 4.5 billion pounds ($5.99
billion) to shareholders by the end of June 2024.
---
ScS Group Two-Year 16 Week Comparable Orders Were Up 0.9%
ScS Group PLC said Friday that two-year like-for-like order
growth for the 16 weeks ended Nov. 20 was 0.9%, but that it has
experienced a fall in store footfall and subsequent sales over the
past seven weeks with customers spending less on big ticket
items.
---
Kitwave Group Performs Ahead of Views in 2H; Appoints COO
Kitwave Group PLC said Friday that it performed ahead of revenue
expectations in the second half of fiscal 2021 and that this has
led to its operating profit being significantly ahead of views.
---
Essentra's CFO to Leave by End 1H 2022
Essentra PLC said Friday that Chief Financial Officer Lily Liu
is leaving the company to take up a new role at Synthomer PLC.
Market Talk:
Rio Tinto Reckons Iron-Ore Prices May Soften, But Sees Demand
Firm
2248 GMT - Rio Tinto reckons there will be some softness in
iron-ore prices following the Beijing Winter Olympics and Chinese
New Year, but that underlying demand for the steel ingredient
remains reasonably robust. That is Macquarie's takeaway from a
sell-side roundtable with the miner's iron-ore boss, Simon Trott.
"He [Trott] believed the Chinese government would try to avoid a
hard landing," Macquarie says. The bank notes iron ore's "losing
streak" appears to have ended, with prices bouncing back above $100
a ton. The spot price slipped 3.2% Thursday to $100.10/ton,
according to S&P Global Platts. (rhiannon.hoyle@wsj.com;
@RhiannonHoyle)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
November 26, 2021 03:07 ET (08:07 GMT)
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