UKX FTSE 100 Index

FTSE 100 Seen Opening Higher as Bank Fears Ease

0637 GMT - The FTSE 100 is expected to open higher as fears over the banking sector ease after U.S. lender First Citizens Bank agreed to take over most of failed Silicon Valley Bank. IG futures data show the index opening 42 points higher after closing up 66 points on Monday. "Yesterday's more positive tone looks set to carry into today's European market open with a modestly higher open," CMC Markets analyst Michael Hewson writes. However, markets are "one negative headline away from another sharp tumble," he says. This week's price action may also be susceptible to month and quarter-end flows, which may assign a misleading skew when it comes to what the market looks to do next, he says. (renae.dyer@wsj.com)

COMPANIES NEWS:

Diageo Names Debra Crew as CEO as Ivan Menezes Retires

Diageo PLC on Tuesday said its Chief Executive Ivan Menezes intends to retire after 10 years in the role, and will be replaced by current Chief Operating Officer Debra Crew.

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Ocado Backs FY 2023 Views After 1Q Retail Revenue Rose on Higher Orders

Ocado Group PLC said Tuesday that first-quarter sales of Ocado Retail Group, the joint venture it co-owns with Marks & Spencer Group PLC, rose and that guidance for fiscal 2023 remains unchanged.

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Halma Buys FirePro for EUR150 Mln

Halma PLC said Tuesday that it has bought aerosol-based fire suppression system company FirePro for 150 million euros ($162 million).

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John Wood 2022 Revenue Rose; Adjusted Earnings at Top End of Guidance

John Wood Group PLC said Tuesday that 2022 revenue rose while adjusted earnings were at the top end of guidance.

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Personal Group Swung to 2022 Pretax Loss on Impairment Charge

Personal Group Holdings PLC said Tuesday that it swung to a pretax loss in 2022 due to an impairment charge, but revenue rose thanks to growth across business areas.

MARKET TALK:

Banking Jitters Seem to Justify Bullish View on Rates, ING Says

0629 GMT - Banking jitters reinforce ING rates strategists' bullish rates view, they write in a note. For now, they expect rates to remain range-bound, which has benefited their model portfolio, they say. "High volatility continues, but our expectation of relatively range-bound rates is proving correct so far," the analysts say. They add that this volatility reflects tensions between two contradictory scenarios: the monetary tightening compounded by difficulties in the banking sector and inflationary pressures that fail to abate. (emese.bartha@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

March 28, 2023 02:56 ET (06:56 GMT)

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