London Stocks Seen Higher with Powell Speech in Focus
30 November 2022 - 7:30PM
Dow Jones News
London Stocks Seen Opening Higher; Markets Await Powell
Speech
0751 GMT - The FTSE 100 is expected to open 44 points higher,
according to IG, having closed on Tuesday at 7512.00, tracking
gains in Asian stocks on hopes that China might backtrack on its
zero Covid policy. "Hints that China would speed up the pace of
vaccinations for the elderly gave new life to the hopes that this
economy will reopen earlier than expected," IG analysts write.
However, trade will likely be cautious ahead of a speech later by
U.S. Federal Reserve Chair Jerome Powell as well as U.S. ADP jobs
data. "Powell is once again expected to remind markets that more
rate rises are coming...which could torpedo any risk rally for the
end of the month," IG says. (jessica.fleetham@wsj.com)
Companies News:
Marks & Spencer Buys Fashion Marketplace Thread's IP, The
Times Reports
--Marks & Spencer Group PLC has bought the intellectual
property of fashion marketplace Thread, which has recently gone
into administration, The Times of London reports.
---
Pennon Group 1H Pretax Profit Hit by Higher Costs
Pennon Group PLC on Wednesday reported a drop in pretax profit
for the first half of fiscal 2023 as it reported higher costs and
despite a rise in revenue.
---
Loungers 1H Pretax Profit Slumped on Higher Costs
Loungers PLC said Wednesday that first-half pretax profit fell
despite rising revenue as inflationary pressure led to increased
costs.
---
Impax Asset Management FY 2022 Pretax Profit Rose on Positive
Net Inflows; Names New CFO
Impax Asset Management Group PLC said Wednesday that its fiscal
2022 profit and revenue rose significantly on positive net inflows,
and named Karen Cockburn as its new chief financial officer.
---
Future Posts Higher FY 2022 Pretax Profit, Revenue
Future PLC on Wednesday reported higher pretax profit and
revenue for fiscal 2022, and said that it expects modest profit
growth in the current fiscal year.
---
Benchmark Holdings FY 2022 Loss Widened on Higher Costs
Benchmark Holdings PLC Wednesday reported a widened loss for
fiscal 2022 on higher finance costs and depreciation charges,
though revenue and adjusted earnings rose, and said it has started
the new year well.
---
Benchmark Holdings to Raise GBP13.2 Mln in Norwegian IPO
Benchmark Holdings PLC on Wednesday said that it plans to raise
13.2 million pounds ($15.8 million) via a private placing and
retail offering on Euronext, Oslo.
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
November 30, 2022 03:15 ET (08:15 GMT)
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