FTSE 100 to Open Flat; U.S. CPI in Focus This Week
FTSE 100 Poised to Open Flat After Mixed Asia Trading
0636 GMT - The FTSE 100 looks set to open largely unchanged at
7477, according to IG futures data, after mixed trading in Asia and
a slightly higher close on Wall Street. Markets in Australia and
South Korea gain, but stocks in mainland China trade flat and
shares in Hong Kong and Japan fall. The Dow advanced 0.1% Monday.
"The main focus this week is very much on Wednesday's U.S. CPI
report in the wake of Friday's bumper payroll report, which saw
U.S. 10-year yields push up to their highest levels in two weeks,"
CMC Markets analyst Michael Hewson says in a note.
Abrdn Swung to 1H Pretax Loss; Warns That Revenue Growth Targets
Unlikely to be Reached
Abrdn PLC reported on Tuesday a swing to a pretax loss for the
first half of 2022 and said its ambitions for revenue growth and
improved cost-to-income ratio will now likely take longer than
expected to realize.
IWG 1H Loss Narrowed as Hybrid Working Spurs Revenue
IWG PLC on Tuesday reported a narrowed loss for the first half
of the year, with strong revenue and Ebitda growth in the
Legal & General 1H Operating Profit Rose, Raises
Legal & General Group PLC reported on Tuesday a rise in
operating profit for the first half of 2022, driven by higher
interest rates and a strong portfolio performance, and said that it
has raised its dividend payout.
Avast 1H Pretax Profit Fell on Higher Costs, Revenue Slip
Avast PLC said Tuesday that its first-half pretax profit fell on
higher costs and a slip in revenue, though average revenue per
customer rose 2.2%.
RPS Group Agrees to GBP591.1 Mln Takeover By Canada's WSP
RPS Group PLC said Tuesday that it has agreed to a 591.1 million
pound ($713.9 million) takeover by Canadian peer WSP Global
Sound Energy Seeks Partner to Fund Remaining $60 Mln for Gas
Project in Morocco
Sound Energy PLC said Tuesday that it is seeking a co-investing
partner for its Tendrara gas project onshore Morocco.
InterContinental Hotels to Launch $500 Mln Buyback; 1H Net
Profit Boosted by Travel Demand
InterContinental Hotels Group PLC said Tuesday that it will
launch a share-buyback program of up to $500 million as it reported
a rise in net profit for the first half on increased revenue.
Bellway FY 2022 Housing Revenue Rose 13% on Higher Completions,
Bellway PLC said Tuesday that its housing revenue rose to record
levels in fiscal 2022 on higher volumes and sales prices, and
reported a strong forward sales position.
SIG PLC Swung to 1H Pretax Profit; Sees Positive 2022
SIG PLC reported on Tuesday a swing to a pretax profit for the
first half of 2022 and said that it expects to return to a positive
free cash flow in the second half and to close the year with a
positive set of earnings.
Just Group 1H Pretax Loss Widened, Resumes Dividend
Just Group PLC on Tuesday reported a first-half widened pretax
loss, but said it is confident about achieving its medium-term
underlying operating profit growth target and resumed its dividend
Investors Ask if Miners Should Spend More on Buybacks, M&A,
and Less on Dividends
0332 GMT - Debate about whether miners should be using their
cash on dividends, buybacks or to grow via acquisition is running
hot this earnings season, Citi analysts say in a note. While the
majority of miners' free cash flow is likely to be used on normal
and special dividends at a time when most share prices are still
elevated, "investors are starting to question whether buyback or
acquisitions could be a better use of cash," the analysts say. The
Citi analysts reckon that miners need to focus on growing value and
volume per share instead of on an absolute basis, and say the way
the likes of Rio Tinto have been able to do this in recent years
has been via share buybacks. (firstname.lastname@example.org;
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
August 09, 2022 03:05 ET (07:05 GMT)
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