UKX FTSE 100 Index

FTSE 100 Seen Tracking Asia Rebound

0628 GMT - The FTSE 100 is expected to open higher after heavy losses in the previous session amid fears about rampant inflation and slowing economic growth. IG futures data show the index opening up 80 points after closing 135 points lower on Thursday. "European markets look set to open higher this morning at the end of yet another rollercoaster week for investors," CMC Markets analyst Michael Hewson says in a note. That follows a rebound in Asia stocks after China cut its five-year loan prime rate 15 basis points to 4.45%, he says. Meanwhile, data on Friday showed U.K. retail sales rose 1.4% on month in April compared with the 0.3% drop expected by economists in a WSJ survey. (renae.dyer@wsj.com)

 
Companies News: 

THG Rejects GBP2.07 Bln Bid From Belerion Capital, King Street

THG PLC said late Thursday that has it rejected a proposal from investment companies Belerion Capital Group Ltd. and King Street Capital Management, LP for 170 pence a share, which valued the deal at 2.07 billion pounds ($2.58 billion).

---

Genel Energy Appoints Luke Clements as CFO

Genel Energy PLC said Friday that it has appointed Luke Clements as chief financial officer with immediate effect.

---

Next Fifteen Communications Agrees on GBP310.1M M&C Saatchi Acquisition

Next Fifteen Communications Group PLC said Friday that it has reached an acquisition agreement with M&C Saatchi PLC that values the company at around 310.1 million pounds ($386.8 million)

 
Market Talk: 

Pound Rises After Better-Than-Forecast UK Retail Sales Data

0645 GMT - Sterling gains after data showed U.K. retail sales unexpectedly rose in April. Retail sales increased 1.4% on month in April, according to the Office for National Statistics. The March print was revised to a 1.2% decline from the 1.4% drop initially estimated. Economists in a WSJ survey expected retail sales to fall 0.3% in April. The data suggest the cost-of-living crisis hasn't caused consumer spending to collapse, Capital Economics economist Nicholas Farr says in a note. "This adds weight to our view that the Bank of England will have to raise rates further to bring inflation back down to its 2.0% target." GBP/USD rises to 1.2495 after the data from 1.2475 beforehand. EUR/GBP falls to 0.8474 from 0.8490. (renae.dyer@wsj.com)

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

May 20, 2022 03:02 ET (07:02 GMT)

FTSE 100
Index Chart
From Mar 2024 to Apr 2024

FTSE 100
Index Chart
From Apr 2023 to Apr 2024