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.

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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.

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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.

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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.

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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.

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Energean Adjusted Earnings Jumped 88% in 2021

Energean PLC on Tuesday reported that its adjusted earnings nearly doubled in 2021.

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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.

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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.

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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.

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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)

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