FTSE 100 Rises Ahead of BOE Decision

0738 GMT - The FTSE 100 falls 0.7% to 7224 points as traders await the Bank of England's policy decision at 1100 GMT Thursday after the Federal Reserve lifted interest rates by 75 basis points on Wednesday. "The BOE has quietly gone about its business with a series of 25 basis points hikes these past months and I don't expect that to change today," Oanda analyst Jeffrey Halley writes. A potential post-Brexit trade conflict is another headwind the BOE doesn't need given the already poor growth outlook and is a reason to not consider a 50bp rate rise as some expect, he says. Halma shares fall 3.1% after the safety equipment maker's full-year results and Informa rises 3.45% after the exhibition group's trading update.(renae.dyer@wsj.com)

 
Companies News: 

Halma Reports Higher FY 2022 Profit, Expects Growth to Continue in FY 2023

Halma PLC on Thursday reported an improved profit for the year ended March 31 and forecast further growth for fiscal 2023.

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Informa Backs 2022 Guidance, Increases Buyback After Strong Five-Month Trading

Informa PLC on Thursday backed its guidance for the full year and increased its share buyback program after booking strong performances in all businesses in the first five months of 2022.

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Halma Names Marc Ronchetti as Next CEO; Andrew Williams to Retire Next Year

Halma PLC said Thursday that Chief Executive Officer Andrew Williams has decided to retire next year, and he will be succeeded by Chief Financial Officer Marc Ronchetti.

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Capco to Buy Shaftesbury in All-Share Deal

Capital & Counties Properties PLC said Thursday that it has agreed to buy Shaftesbury PLC in an all-share deal that will give Shaftesbury shareholders 53% of the combined group.

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ASOS Warns of Inflation Hit; Appoints New CEO, Chairman

ASOS PLC said Thursday that it has adjusted it outlook for fiscal 2023 as inflation hits consumers, and that it has appointed Jose Antonio Ramos as its new chief executive officer and Jorgen Lindemann as chairman.

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Halfords Expects FY 2023 Profits to Fall on Lower Demand, Inflation

Halfords Group PLC on Thursday forecast lower profits for fiscal 2023 as reduced demand and cost inflation are hurting its performance.

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Rockhopper Shares Drop on $7 Mln Discounted Placing, Subscription

Shares in Rockhopper Exploration PLC traded down 13% on Thursday after it said that it has raised $7 million through a placing and subscription, with the funds to be used toward working capital and supporting the Sea Lion license extension.

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Inchcape Sees 2022 Pretax Profit Beat After Strong Distribution Business Performance

Inchcape PLC said Thursday that it has continued to perform strongly since its first-quarter update, with 2022 pretax profit now forecast to beat market consensus after the strong performance of its distribution business.

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Mountview Estates FY 2022 Pretax Profit Fell on Higher Costs, Raises Dividend

Mountview Estates PLC said Thursday that pretax profit for fiscal 2022 fell, despite higher revenue and raised its total dividend payout by more than 75%.

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THG Says Potential Offers Undervalue Company; Hasn't Provided Due Diligence Access

THG PLC said Thursday that recent takeover approaches undervalue the company, and that therefore it hasn't provided the parties due diligence access after consultation with its major shareholders.

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GB Group Appoints Richard Longdon Chair; FY 2022 Pretax Profit Fell on Higher Costs

GB Group PLC said Thursday that David Rasche is stepping down as chairman and that Richard Longdon has been appointed to the role effective Sept. 1, as it reported a fall in pretax profit for fiscal 2022 after booking higher costs.

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Boohoo's 1Q Revenue Suffered a Hit on Lower International, US Sales

Boohoo Group PLC said Thursday that revenue suffered a hit in the first quarter of fiscal 2023, but that its outlook for the full-year remains unchanged as its performance was still up 75% compared to prepandemic levels.

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N. Brown 1Q FY 2023 Rev Fell; Business Environment Challenging So Far This Yr

N. Brown Group PLC said Thursday that the managed fall in revenue continued during the first quarter of fiscal 2023 though at a more moderate level, and that the business environment has been challenging since the start of the year.

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Hurricane Energy Sees $5 Mln Hit From UK Windfall Tax Up to July

Hurricane Energy PLC said Thursday that it estimates an impact of around $5 million from the new U.K. Energy Profits Levy up to the end of July.

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ASOS Cuts FY 2022 Guidance as Inflation Hits Consumers; Appoints New CEO -- Update

ASOS PLC said Thursday that it has lowered its outlook for fiscal 2022 as inflation hits customers, and that it has appointed Jose Antonio Ramos as its new chief executive officer and Jorgen Lindemann as chairman.

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musicMagpie 1H Revenue, Adjusted Ebitda Fell In Challenging Environment

MusicMagpie PLC said Thursday that revenue and adjusted Ebitda fell for its first half of fiscal 2022 amid a challenging economic environment.

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NWF Group FY 2022 Performance Stronger Than Anticipated; Expects Record Results

NWF Group PLC said Thursday that its performance in fiscal 2022 was materially stronger than what it expected at the start of the year, and that it will deliver record results for the year ended May 31.

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CareTech Holdings 1H Pretax Profit Fell Amid Higher Costs and Lower Occupancy

CareTech Holdings PLC said Thursday that pretax profit for the first half of fiscal 2022 fell but that its performance was broadly in line with the board's expectations.

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Best of the Best Shares Jump on GBP6.3 Mln Return to Shareholders

Shares in Best of the Best PLC rose 24% in early trade Thursday after the company said that is planning to return up to 6.3 million pounds ($7.7 million) to shareholders via a tender offer, as part of its plan to return surplus cash.

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Feedback to Report FY 2022 Revenue Increase; Shares Rise

Shares in Feedback PLC rose Thursday after it said that it expects to report a rise in revenue for fiscal 2022, and that it continued targeting a number of opportunities as it remained focused on investing in the U.K. and India.

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Petroneft Resources Granted Extension to Publish 2021 Results

Petroneft Resources PLC said Thursday that it has been granted an extension of up to three months to report its 2021 results, to Sept. 30, due to the continued impact of Covid-19.

 
Market Talk: 

UK Consumers Seen as Resilient Despite Growing Headwinds

0738 GMT - Household consumption in the U.K. looks strong despite the increasing short-term challenges for consumers, Berenberg's senior economist Kallum Pickering says in a note. Record labor demand and low unemployment is likely supporting incomes, and while consumers are struggling with rising inflation, there is no evidence yet that demand is weakening, he says. The British consumer faces many months of pain ahead, but long-term fundamentals due to flexible labor markets and solid balance sheets signal that the situation is favorable, Pickering says. "Following the Brexit vote and Covid-19, the U.K. consumer consistently outperformed expectations, and we see no obvious reason why this will not happen again," he says. "Things are bad now, but nothing lasts forever." (xavier.fontdegloria@wsj.com)

 

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

(END) Dow Jones Newswires

June 16, 2022 03:55 ET (07:55 GMT)

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