FTSE 100 Seen Higher; Sterling Falls After 9% CPI Print
FTSE 100 Seen Opening Higher After Wall Street Gains
0638 GMT - The FTSE 100 is seen opening slightly higher
following a positive session on Wall Street overnight.
Spreadbetting firm IG expects the London index of blue-chip stocks
to start up 7 points. U.S. stocks closed Tuesday higher, helped by
a decent April U.S. retail sales report, which showed that
consumers remained resilient despite rising prices, CMC Markets
analyst Michael Hewson says in a note. Meanwhile in the U.K., data
on Wednesday showed inflation accelerated to an annual rate of 9.0%
in April from 7.0% in March, compared to the 9.1% forecast by
economists in a Wall Street Journal survey.
Burberry Reports FY 2022 Profit Rise Despite China Lockdowns Hit
Burberry Group PLC on Wednesday reported an improved profit for
the year ended April 2, although coronavirus restrictions in China
severely affected the business in the fourth quarter.
Experian FY 2022 Pretax Profit Rose; Raises Dividend
Experian PLC on Wednesday reported a rise in pretax profit in
fiscal 2022 driven by strength in organic revenue across North and
South America, the U.K. and Ireland, and raised its dividend
British Land Swung to FY 2022 Pretax Profit on Covid-19
British Land Co. said Wednesday that it swung to a pretax profit
in fiscal 2022 as coronavirus pandemic-related hits to its property
value were reversed.
Anglo American's De Beers Diamond Sales Rose in Fourth Cycle
Anglo American PLC on Wednesday reported an increase in diamond
sales from its De Beers subsidiary for the fourth sales cycle of
Sterling Falls After UK Inflation Data
0629 GMT - Sterling falls after data showed U.K. inflation
accelerated further in April, adding pressure on already strained
household incomes. Inflation rose to an annual rate of 9.0% in
April from 7.0% in March. Economists polled by the WSJ expected
inflation to reach 9.1%. "Inflation in the U.K. is completely out
of control, and there is no doubt that soaring inflation is having
a negative influence on disposable incomes," AvaTrade analyst Naeem
Aslam says in a note. The Bank of England is under pressure to do
more to control inflation but it is walking a fine line and can
only do so much, he says. GBP/USD falls to 1.2471 after the data
from 1.2491 beforehand. EUR/GBP rises to 0.8448 from 0.8437.
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(END) Dow Jones Newswires
May 18, 2022 02:56 ET (06:56 GMT)
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