Sterling's Rise Vs Dollar Could Prove Short-Lived
28 November 2022 - 9:51PM
Dow Jones News
Sterling's Rise Vs Dollar Could Prove Short-Lived
0918 GMT - Sterling's gains against the dollar won't last given
the prospect of a global recession and the U.K.'s substantial
current account deficit, ING says. The current inversion in global
yield curves--where shorter-term government bond yields are higher
than longer-term yields--are a "likely harbinger of recession," ING
analyst Chris Turner says in a note. "And with its large current
account deficit, sterling should be expected to remain vulnerable."
Fresh selling interest in GBP/USD could emerge near the 200-day
moving average at 1.2177 or at best the 50% retracement of the
2021-22 drop at 1.2300, Turner says. GBP/USD rises 0.2% to 1.2102.
(renae.dyer@wsj.com)
Companies News:
Superdry in Talks With Bantry Bay Over Replacing GBP70 Mln Line
of Credit
Superdry PLC said Monday that it is in negotiations with
specialist lending provider Bantry Bay Capital Ltd. to replace its
existing asset-backed lending line of credit of up to 70 million
pounds ($84.7 million), which expires in January.
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PensionBee Group Assets Under Administration Top GBP3 Bln
PensionBee Group PLC said Monday that it has achieved assets
under administration of over 3 billion pounds ($3.63 billion) in
November due to high customer retention and strong net inflows.
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Brickability 1H Pretax Profit, Revenue Rose; Backs Full-Year
Market Views
Brickability Group PLC said Monday that pretax profit and
revenue in the first half of fiscal 2023 both significantly rose on
a strong performance across all group divisions, and backed
full-year market expectations.
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Yu Group Expects 2022 Results Ahead of Market Forecasts
Yu Group PLC expects to report revenue, adjusted earnings and
operational cashflow above market expectations for 2022, citing an
"exceptional trading performance" that should continue into the new
year.
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Inspiration Healthcare's FY 2023 Sales Not Expected to Beat
Prior Year
Inspiration Healthcare Group PLC said Monday that sales for the
fiscal year ending in January are unlikely to significantly exceed
the same period a year earlier, with Ebitda for the second half
expected to be less than the first.
---
Condor Gold to Raise up to GBP4.2 Mln via Loan Note Issue, Open
Offer
Condor Gold PLC said Monday that it is planning to raise up to
4.2 million pounds ($5.1 million) via a loan note issue and
shareholder open offer which will be used for working capital and
to cover short term overheads.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
November 28, 2022 05:36 ET (10:36 GMT)
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