London stocks saw their opening lower after the Fed signaled a rate hike earlier

0651 GMT – The FTSE 100 is expected to open 48 points lower, according to IG, after closing Wednesday at 7184.95, after the US Federal Reserve unexpectedly signaled it was likely to raise interest rates to ‘by the end of 2023, earlier than expected. Policymakers also discussed a possible reduction in asset purchases as part of the Fed’s quantitative easing program. “The withdrawal of liquidity should lead to a certain fall in prices in the large [stock] indices, although we do not expect a rapid fall because the Fed will not pull the rug from under investors’ feet quickly, ”said Swissquote analyst Ipek Ozkardeskaya. Among individual stocks, Whitbread will be the center of attention after reporting total sales. for the first quarter of fiscal 2022 fell 70% due to pandemic restrictions ([email protected])

 
Companies News: 

Dr. Martens’ 2021 profit slipped on higher costs, revenues climbed

Dr Martens PLC on Thursday reported declining pre-tax profit for fiscal 2021 due to rising costs as it released its first round of earnings since its introduction in London.

Trainline ticket sales rebound as restrictions lift

Trainline PLC said on Thursday that its net ticket sales had more than quadrupled in the first quarter of the fiscal year.

Mitie shareholder How the group sells its stake for £ 69.6million

How Group has sold its entire roughly 7% stake in Mitie Group PLC for around £ 69.6 million ($ 97.3 million), investment bank Jefferies International Ltd. said Thursday.

Halfords’ Fiscal 2021 Profit Jumped on Higher Revenue; Positive momentum continues through fiscal 2022

Halfords Group PLC on Thursday reported more than tripled pre-tax profit for fiscal 2021 on higher revenues.

Whitbread first quarter 2022 sales slump due to pandemic restrictions

Whitbread PLC said Thursday that total sales for the first quarter of fiscal 2022 fell 70% due to government restrictions linked to the pandemic.

N. Brown’s first quarter revenue edged up

N. Brown Group PLC said on Thursday that revenue increased slightly in the first quarter of fiscal 2022.

Safestore 1H Profit Jumped and Sees FY2021 Profits in the High End

Safestore Holdings PLC on Thursday announced an improvement in its profit for the first half of fiscal 2021, mainly thanks to investment gains, and expects annual profits at the high end of the benchmark range.

Reports of open orphans have widened the 2020 loss; Poolbeg seeks London IPO

Open Orphan PLC on Thursday announced an expanded loss for 2020 and said Poolbeg Pharma Ltd. intended to float in the AIM market.

NCC Group sees FY2021 revenue up, profits at high end of consensus

NCC Group PLC said on Thursday that it expects fiscal 2021 revenue to increase slightly year-over-year and adjusted earnings before interest and taxes to reach the high end of market consensus expectations.

Wise’s pre-tax profit for fiscal 2021 surged; Sees strong demand at the start of fiscal 2022

UK fintech Wise PLC said on Thursday that pre-tax profit for fiscal 2021 more than doubled and saw strong demand at the start of the current year.

 
Market Talk: 

Monetary policy in developed markets will remain “exceptionally” accommodative

0619 GMT – Monetary policy will remain “exceptionally” accommodative in most developed markets, according to Scope Ratings. The company expects policy rates in the United States, Eurozone and Japan to remain unchanged until at least 2022. The United Kingdom will likely increase its base rate to 0.25% by then the end of 2022 and the People’s Bank of China is expected to increase its prime lending rate. 10 basis points in 2021 and 2022, according to Scope. A central risk to Scope’s economic base could be a tightening in global financial conditions, in the form of higher long-term treasury yields, a significant correction in bubbling global stock markets or a depreciation in exchange rates, according to the company. . ([email protected])

Higher global debt and deficit have ratings implications, according to scope ratings

0615 GMT – Scope Ratings expects the global economy to grow 6% in 2021, moderately faster than expected six months ago, with growth accompanied by rising debt and public deficits , with divergent ratings implications, the statement said. “Structurally weak government balance sheets are negative in terms of credit, but ultra-accommodative monetary policy – particularly by the Federal Reserve, European Central Bank, Bank of England and Bank of Japan – compensates by guaranteeing the keeping interest rates low, ”said Giacomo Barisone. , head of sovereign and public ratings at Scope. He adds that the four central banks have strengthened their role as lenders of last resort. For 2022, Scope Ratings expects the pace of global growth to slow to around 4.4%. ([email protected])

Alphawave Sees Data Usage, Cloud Computing Increase Revenue

0543 GMT – Alphawave’s strong growth and outlook is driven by the need for ever-increasing wired connectivity speeds across all areas of data centers, said Liberum, initiating coverage of the action with a recommendation from purchase and a target price of 420 pence. Strong growth in data and cloud computing usage is driving demand for greater data center capacity, with broadband connectivity company’s revenue set to reach $ 230.5 million in 2023 , up from $ 32.8 million in 2020, according to the British brokerage firm. “We expect Alphawave’s high growth rates and EBITDA margins to continue well beyond our forecast period until 2023, with the business expected to continue to generate strong cash generation,” said Liberum. ([email protected])

BHP seeks to lock in Jansen port plans ahead of board decision

0002 GMT – A decision on a port option for BHP’s Jansen potash project remains a key task before executives submit the proposed investment to the board of directors in the coming months, said Rag Udd, chairman by BHP Minerals Americas. BHP, although advanced on its rail plans, is still considering two port options – one commercial, one new, he says. Speaking to investors, Udd also reiterates that BHP is “open to partnership, but [that] this project does not need a partner. His remark follows media reports that BHP is in talks with Nutrien over a partnership on Jansen. Udd says an investment in Jansen is “a very big decision” considering the investment costs, and more than BHP’s favorable view of the potash outlook ([email protected]; @RhiannonHoyle )

Political Spending Gets Liberty Global Shareholder Approval

1837 ET – Liberty Global shareholders approved spending of up to $ 1 million in political expenses, including donations to organizations and political parties. Such resolutions are customary for SOEs in the UK. Although Liberty Global did not use the authority in 2020 and company officials said they had no plans for such spending this year, they said they wanted to keep the door open. , just in case . “In view of recent events in Europe, and in the UK in particular, regarding issues such as the independence vote in Scotland, the British citizens’ vote in favor of leaving the EU (Brexit), the subsequent decisions in the UK and the impact of Brexit on our operations in the UK, Ireland and Continental Europe, the company believes that while we have a limited history of political or lobbying contributions, it may be wise to the business plan to have the flexibility to respond to political issues in the countries in which we operate, ”Liberty Global wrote in documents to shareholders. ([email protected]; @mjarmental)

BHP sees demand for potash catching up amid global decarbonization

18:36 ET – BHP’s bullish potash price argument, that farm behavior is revised by declining soil fertility, now looks much more reasonable than a scenario in which the Potash market is overwhelmed by increased supplies, says miner chief economist Huw McKay. He told an investor briefing that a market wave, the fourth since 1960, has arguably just started and is expected to drive demand to catch up with recent excessive increases in supply by the end of the 2020s or so. early 2030s. Fertilizer should benefit greatly from a decarbonized world, he says. “In our 1.5 degree scenario, potash should be the winner,” says Dr. McKay. ([email protected]; @RhiannonHoyle)

 

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

(END) Dow Jones Newswires

June 17, 2021 03:12 ET (07:12 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.



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