Jobs Data Could Support Sterling Ahead of Next BOE Decision
18 January 2022 - 07:44PM
Dow Jones News
UK Jobs Data Could Support Sterling Ahead of Next BOE
Decision
0810 GMT - The latest U.K. jobs data support expectations the
Bank of England will raise interest rates further and this should
benefit sterling, ING says. Market expectations for four rate rises
by year-end are "overdone" but Tuesday's employment data and
Wednesday's inflation report will do little to challenge the
"hawkish bets," ING analysts say. "This means that the pound's good
momentum, which has remained immune to the UK's political noise,
should remain broadly intact into the February 3 BOE meeting."
EUR/GBP could fall below 0.8300, they say. EUR/GBP falls 0.1% to
0.8353 but GBP/USD drops 0.1% to 1.3644. The data showed the
unemployment rate fell 0.4 percentage points to 4.1% in the three
months to the end of November. (renae.dyer@wsj.com)
Companies News:
Rio Tinto's Australian Iron-Ore Shipments Fall
Rio Tinto's annual iron-ore shipments from its Australian mining
operations fell by 3% in 2021 with projects disrupted by a worker
shortage and supply chain issues, but expects shipments will likely
increase this year.
---
Genel Energy Expects Cash Flow to More Than Double in 2022
Genel Energy PLC said Tuesday that it expects cash flow to more
than double in 2022.
---
888 Holdings Sees 2021 Revenue Growth of 14% on Expansion in
Regulated Markets
888 Holdings PLC said Tuesday that it expects to report revenue
growth of 14% for 2021, driven by an expansion in regulated
markets.
---
Henry Boot Sees 2021 Pretax Profit Beating Market Views
Henry Boot PLC said Tuesday that it ended 2021 with a pretax
profit materially ahead of the market's expectations and that it is
making good progress against its new medium-term strategic
targets.
---
Elementis 4Q Performance in Talc Division Below Year-Earlier
Period
Elementis PLC said Tuesday that performance in its Talc division
in the fourth quarter was below that from a year earlier because of
reduced automotive-related demand stemming from semiconductor
supply shortages.
---
Energean Adjusted Earnings Jumped 88% in 2021
Energean PLC on Tuesday reported that its adjusted earnings
nearly doubled in 2021.
---
ProCook Sees 3Q Revenue Growth, Gross Margin Fall
ProCook Group PLC said Tuesday that it expects to report a
revenue increase for its third quarter but a gross margin decline
in line with its expectations amid supply-chain issues.
---
Brickability Sees FY 2022 Adjusted Ebitda Rising Ahead of Market
Views
Brickability Group PLC said Tuesday that it expects its fiscal
2022 adjusted Ebitda to exceed current market expectations.
---
THG Expects FY 2022 Growth Margins to Get Boost From Strong
Demand
THG PLC said Tuesday that it expects 2022 growth margins to
improve, as the company benefits from continued strong demand, and
that it remains confident about its growth plans.
---
Petra Diamonds 1H Revenue Rose 49%
Petra Diamonds Ltd. on Tuesday reported revenue rose 49% in the
first half of the fiscal year.
Market Talk:
Brent May Average $105 in 2023, Goldman Sachs Says
0730 GMT - Brent crude prices may average $105/bbl in 2023, as
higher prices are needed to bring the oil markets into balance,
Goldman Sachs says. GS, which has forecast Brent at $96/bbl this
year, says that at the current levels of about $85/bbl, the market
will remain critically undersupplied due to low OECD inventories
and declining OPEC+ spare production capacity. It thinks the market
should balance at $105/bbl Brent in 2023, as higher prices reduce
demand and incentivize more supply. "We are positioned for such a
rebalancing process through our long Brent Dec-22 vs. Dec-23 and
long Dec-23 Brent trade recommendations," GS says.
(yongchang.chin@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
January 18, 2022 03:29 ET (08:29 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Feb 2024 to Mar 2024
FTSE 100
Index Chart
From Mar 2023 to Mar 2024