UKX FTSE 100 Index

FTSE 100 Seen Opening Higher as Asia Stocks Recover, US Stock Futures Rise

0639 GMT - The FTSE 100 is seen rising at the start of trading following a recovery in Asian stocks and ahead of an expected higher open on Wall Street after U.S. markets were closed Monday for a holiday. Spreadbetting firm IG expects the London index of blue-chip stocks to open 14 points higher after closing up 105 points on Monday when other European indices also gained. The Dow is expected to open up 83 points, according to IG. "Asia markets have picked up where markets in Europe left off, drifting higher, and along with US future today's European open looks set to be a positive one, as US markets return later today," CMC Markets analyst Michael Hewson writes. (renae.dyer@wsj.com)

 
Companies News: 

DS Smith FY 2022 Profit Rose Amid Volume Growth, Expects Trend to Continue

DS Smith PLC on Tuesday reported higher profits amid record volume growth for fiscal 2022, and forecast that its performance will improve again this year.

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easyJet to Buy 56 New Aircraft from Airbus, Convert 18 Others

Budget airline easyJet PLC said Tuesday that it is buying 56 Airbus A320neo family aircraft from Airbus SE and converting 18 A320neo family aircraft into 18 A321neo aircraft.

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John Wood Names COO Ken Gilmartin as Incoming CEO

John Wood Group PLC said Tuesday that Chief Operating Officer Ken Gilmartin will become chief executive officer, effective July 1, taking over from current CEO Robin Watson.

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HSS Hire Sees 2022 Adjusted Ebita in Line With Market Views

HSS Hire Group PLC said Tuesday that it expects to report adjusted Ebita for the full year in line with market expectations as it continues to manage ongoing macroeconomic challenges effectively.

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Telecom Plus FY 2022 Revenue, Pretax Profit Rose on Demand, Underlying Organic Customer Growth

Telecom Plus PLC said Tuesday that it booked record results that were ahead of expectations for fiscal 2022, with increased revenue and pretax profit, after improved demand and underlying organic customer growth.

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Safestore 1H Pretax Profit Rose on Investment Gains; Sees Full-Year Earnings Rising

Safestore Holdings PLC said Tuesday that its pretax profit and revenue rose for the first half of fiscal 2022, driven mainly by investment property gains, and forecasts full-year earnings slightly above market views.

 
Market Talk: 

Ocado Group Fundraise Could Raise Concerns About Liquidity

0622 GMT - Ocado Group's fundraise reflects a material cash burn and concerns about liquidity, Shore Capital analysts Clive Black and Darren Shirley say in a research note. The U.K. online grocer's funding of customer commitments has no timeframe defined meaning that it could generate GBP6 billion of revenue, but in an unclear time period, the analysts say. The retail-technology specialist is correct in expecting the online market to grow in the medium term, but pandemic normalization is contracting the growth pace meaning the online market is actually heading to a recession where Ocado could be especially exposed, they say.(michael.susin@wsj.com)

Ryanair Is Seen Well Placed to Navigate Summer Bottlenecks Plaguing Peers -- Market Talk

0600 GMT - Meeting the sharp rebound in air-travel demand is proving a challenge for many European airlines this summer, but Ryanair could be one of the winners of the season, Citi analyst Sathish B Sivakumar says. Many carriers have warned of operational logjams involving tight staffing and insufficient airport capacity that prevent them from ramping up fast enough to meet demand, or forcing them to cancel flights. Irish budget airline Ryanair is somewhat of an outlier: It has been able to ramp up capacity much more comfortably because it didn't lay off staff during the Covid-19 pandemic, Sivakumar says. The fact that it operates out of smaller airports also works to its advantage, he says. "[Ryanair] are kind of protected in their ability to operate at capacity," Sivakumar says. (cristina.roca@wsj.com; @_cristinaroca)

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

(END) Dow Jones Newswires

June 21, 2022 03:02 ET (07:02 GMT)

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