FTSE 100 Likely to Extend Gains on Higher U.S. Close
08 February 2023 - 7:17PM
Dow Jones News
FTSE 100 Poised to Rise After Higher US Close
0735 GMT - The FTSE 100 looks set to open about 39 points higher
at 7903, according to IG futures data, after an upbeat close on
Wall Street, though Asia trades mixed. Australian and South Korean
stocks rise, but Japan's Nikkei 225 and markets in mainland China
and Hong Kong fall. The Dow closed Tuesday 0.8% higher after U.S.
Federal Reserve chief Jerome Powell reiterated comments about
disinflationary trends, but also insisted that the Fed still has
some way to go to get inflation back to target. "This U.S.
resilience looks set to translate into a positive European open
later this morning," CMC Markets analyst Michael Hewson writes.
(philip.waller@wsj.com)
Companies News:
Barratt Developments 1H Pretax Profit Rose; Reservation Rate
Improved in January
Barratt Developments PLC said Wednesday that it saw a rise in
pretax profit for the first half of fiscal 2023 and said its
private reservation rate has modestly improved in January.
---
Smurfit Kappa 2022 Pretax Profit Rose, Boosted by Investment
Program
Smurfit Kappa Group PLC said Wednesday that pretax profit rose
in 2022, with performance reflecting the continuing benefits of the
investment program.
---
Severn Trent Backs FY 2023 View
Severn Trent PLC said Wednesday that there have been no material
changes to the business performance or outlook since its half-year
earnings in November and backed its fiscal 2023 outlook.
---
Ashmore Group 1H Pretax Profit Halved; Sees Outperformance As
Markets Recover
Ashmore Group PLC said Wednesday that pretax profit more than
halved in the first half of fiscal 2023 as market volatility in the
period led to losses on investments, and that emerging markets are
set to outperform as markets recover.
---
Grainger Early FY 2023 Rent, Occupancy Rose
Grainger PLC said Wednesday that rent and occupancy rose in the
first four months of fiscal 2023.
---
Tate & Lyle Updates Five-Year Targets for Revenue, Earnings
Growth
Tate & Lyle PLC said Wednesday that it expects to deliver
revenue growth of 4% to 6% a year in the five years to March 2028,
underpinned by high single-digit growth in its food and beverage
solutions division.
Market Talk:
UK Firms Face Brexit, Covid Supply-Chain Chaos in 2023
1714 GMT - UK mid-sized businesses face a double whammy of
supply-chain problems caused by the UK's EU exit and rising Chinese
coronavirus cases, a survey shows. More than half, or 54%, of
businesses cited supply-chain disruption as their biggest concern
in the next six months, according to the study by business
consultancy BDO. About a third, or 34%, highlighted delays caused
by Brexit-related customs regulations, a similar number reported
rising costs of EU-derived goods and 24% said they had stopped
selling to the EU completely. Some 37% of businesses also cited
delays from rising Covid-19 cases and lockdowns in China. "These
businesses are the engine of the UK's economy and they shouldn't be
overlooked," BDO partner Ed Dwan writes.
(philip.waller@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
February 08, 2023 03:02 ET (08:02 GMT)
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