London Stocks Seen Lower as Inflation Worries Dampen Mood
27 May 2022 - 5:18PM
Dow Jones News
London Stocks Seen Opening Lower
0645 GMT - The FTSE 100 index is expected to open 28 points
lower, according to IG, having closed on Thursday at 7562.92. "U.S.
futures are slightly in the negative...as the rally in energy
prices certainly throws a shadow on the latest optimism, keeping
the inflation worries tight, as soaring energy prices are one of
the major [factors] responsible for the skyrocketing inflation,"
Swissquote analyst Ipek Ozkardeskaya says in a note. There is
little on the calendar Friday, barring monthly U.S. personal income
and spending data. (jessica.fleetham@wsj.com)
Companies News:
Vistry Group Starts GBP35 Mln Share Buyback
Vistry Group PLC said Friday that it is starting a 35 million
pounds ($44.1 million) share buyback program to return surplus
capital to shareholders.
---
Premier Miton 1H Pretax Profit, Assets Under Management
Increased
Premier Miton Group PLC reported on Friday a rise in pretax
profit and assets under management for the first half of fiscal
2022 and said it is in a good position to gain market share.
---
Stagecoach Buys East London Bus Operations for GBP20 Mln
Stagecoach Group PLC said Friday that it is buying the East
London bus operations and depot at Lea Interchange from Kelsian
Group for 20 million pounds ($25.2 million).
---
Gemfields Group Reports Record Revenue for May Emerald
Auction
Gemfields Group Ltd. on Friday reported record revenue and
prices for a set of emerald auctions held in May.
---
LSL Property Sees 2022 Profit Slightly Behind 2021 Levels
LSL Property Services PLC said on Friday it expects profit for
2022 to be slightly behind the record levels of 2021, citing
residential pipeline conversion rates and a limited impact from
inflation.
---
Big Technologies Confident in Full-Year Expectations After
4-Month Revenue Rose
Big Technologies PLC said Friday that it is confident of posting
2022 results at least in line with current market expectations
after revenue in the first four months rose 18% on year.
---
4D Pharma Says Trial for Treatment of Urothelial Carciroma with
MRx0518 Drug Progresses Well
4D pharma PLC said Thursday that the combination of its MRx0518
drug in combination with Bavencio has shown in a trial that it
improves the outcomes for patients diagnosed with advanced or
metastatic urothelial cancer.
---
Kibo Energy Pulls Back on GBP10 Mln Solar Park Acquisition in
Zimbabwe
Kibo Energy PLC said Friday that it has elected to terminate the
10 million pound ($12.6 million) acquisition of the Victoria Falls
solar park project in Zimbabwe after concluding due diligence.
---
Caffyns FY 2022 Revenue, Pretax Profit Rose on Buoyant Used-Car
Market
Caffyns PLC said Friday that fiscal 2022 pretax profit and
revenue increased due to a buoyant used-car market, and that it has
declared a dividend for the year.
---
Home REIT Beats Share Placing Target and Raises GBP263 Mln
Home REIT PLC said Friday that it has raised significantly more
than it expected via an oversubscribed discounted share
placing.
Market Talk:
BHP Edges Rio Tinto as Market Focus Tilts Toward Growth
2329 GMT -- BHP has the edge over Rio Tinto as an investment
opportunity as the market focus tilts toward growth, says UBS
analyst Lachlan Shaw in a note. "We prefer BHP on operational
performance and portfolio/growth optionality," Shaw says. "BHP has
an unparalleled copper equity resource position and significant
nickel optionality." Still, UBS is neutral-rated on both stocks.
While elevated commodity prices continue to drive strong earnings
for both miners in the short term, UBS is cautious around the price
of iron ore in the medium to long term. Most of BHP and Rio Tinto's
profit comes from iron-ore sales. (david.winning@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
May 27, 2022 03:03 ET (07:03 GMT)
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