London Stocks Seen Opening Higher
0648 GMT – The FTSE 100 is expected to open 72.5 points higher, according to IG, having closed on Friday at 7389.98, as U.S. stock futures point to a higher open after last week’s falls. Ipek Ozkardeskaya, senior analyst at Swissquote Bank, says in a research note that some investors see an opportunity to buy stocks at lower levels but she warns “trading conditions will likely remain choppy, and gains may remain short lived.” This week, U.S. Federal Reserve minutes will be in focus for hints that a bigger 75 basis-point interest-rate rise is possible but otherwise a fast pace of rate rises is already largely expected, Ozkardeskaya says. Retailer Kingfisher will be in focus after a 1Q update. (jessica.fleetham@wsj.com)
Companies News:
Ted Baker Selects Preferred Party for Sale; Sycamore Partners No Longer Participating
Ted Baker PLC said Monday that the board has selected an undisclosed preferred counterparty and that Sycamore Partners Management L.P. is no longer participating in the sale process.
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M&C Saatchi Shareholder AdvancedAdvT Says Next Fifteen Offer Is Too Low
AdvancedAdvT Ltd. said Monday that the 310.1 million pound ($387.4 million) offer from Next Fifteen Communications Group PLC for communications group M&C Saatchi PLC doesn’t reflect the value of foregoing control and the significant synergies available to the potential buyer.
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Kingfisher Backs FY 2023 Profit View; To Buy Back Shares
Kingfisher PLC said Monday that sales fell in the first quarter of fiscal 2023 due to strong comparatives the prior year but were above prepandemic levels, and backed its full-year guidance and outlined a share-buyback program.
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EnQuest Says on Track to Meet 2022 Targets; Backs Guidance
EnQuest PLC said Monday that it is on track to meet its 2022 targets, and backed its guidance for the year.
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Kainos Group FY 2022 Pretax Profit Fell, Reduces Dividend
Kainos Group PLC said Monday that pretax profit for fiscal 2022 fell on higher costs while revenue rose by one third driven by strong demand across all its divisions, and declared a reduced dividend payout.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
May 23, 2022 03:06 ET (07:06 GMT)
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Read More: London Stocks Seen Higher as US Futures Gain; Choppy Trading Likely