BoE Is Likely to Proceed With Further Interest Rates Increases
0748 GMT – The Bank of England is expected to lift interest rates to 1.25% from the current 1% in its June meeting, Deutsche Bank senior economist Sanjay Raja says in a note. However, the decision won’t be unanimous and it is expected that some members of the Monetary Policy Committee will opt for a bigger move of 50 basis points, he says. Looking ahead, the BoE is likely to hike interest rates in every meeting for the remainder of the year and one more time in February next year, bringing the terminal rate to 2.5%, Raja says. The next BoE policy meeting will be held on June 16. (xavier.fontdegloria@wsj.com)
Companies News:
M.P. Evans Five-Month Production Flat on Year; Proposes Increased Dividend
M.P. Evans Group PLC said Friday that fresh fruit bunch production and crops from the company’s associated scheme smallholders for the five months ended May 31 were effectively flat on year and that it was proposing an increased dividend for 2021.
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ProCook Group Warns on FY 2023 Performance Hit from Cost-of-Living Crisis
ProCook Group PLC said Friday that its performance is being hurt by the current cost-of-living crisis, and that it now expects to report a much lower adjusted pretax profit for fiscal 2023, with revenue in line with the prior year.
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Netcall Wins $19M Contract With Financial Services Firm; Now Expects Higher FY 2023 Adj Ebitda
Netcall PLC said Friday that it has secured a $19 million contract with an S&P 500 financial-services company, and that it now anticipates that adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2023 will be significantly above its previous expectations.
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Midatech Pharma Chairman Rolf Stahel to Retire; Appoints Stephen Parker to Role
Midatech Pharma PLC said Friday that Chairman Rolf Stahel, who is also a nonexecutive director, intends to retire after the next annual general meeting, and that Stephen Parker will be appointed as nonexecutive chairman following the AGM.
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Light Science Expects FY 2022 Pretax Loss Due to Sales Pipeline Challenges
Light Science Technologies Holdings PLC said Friday that for fiscal 2022 it now expects to report revenue around 35% below market expectations and a pretax loss of around two million pounds ($2.5 million) due to sales pipeline challenges.
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Ergomed Sees 2022 In Line With Expectations
Ergomed PLC said Friday that organic growth has continued and year-to-date revenue has increased in line with prior trends, with the board expecting business growth and full-year results in line with current market expectations.
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Fortum Sells Stake in Electric Vehicle Charging Point Operator to Infracapital For $85 Mln
Finnish energy group Fortum Oyj said Friday that it is selling its 30% stake in electric vehicle charging point operator Recharge AS to Infracapital for around 80 million euros ($85.0 million).
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Origin Enterprises Nonexecutive Chairman Rose Hynes to Step Down; 3Q Performance Strong
Origin Enterprises PLC said Friday that Nonexecutive Chairwoman Rose Hynes won’t seek reelection at November’s annual general meeting, and that it performed strongly across all segments during the third quarter of fiscal 2022.
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Genel Energy CEO to Step Down After Not Receiving Enough Votes at AGM
Genel Energy PLC said Friday that Chief Executive Officer Bill Higgs has agreed to step down after not receiving the required 50% majority of votes in favor of re-election at the company’s annual general meeting.
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Serabi Gold Pretax Profit Rose in 2021 on Higher Revenue; Warns of Lower 2022 Revenue
Serabi Gold PLC said Friday that its pretax profit rose in 2021 as revenue increased due to higher gold production, and that it expects revenue to fall in 2022.
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Pagero Gets Low Level Support for GBP61.5 Mln Tungsten Takeover
Pagero Group AB said Friday that it has received acceptances from shareholders owning 0.05% of Tungsten Corp. shares to which its 61.5 million-pound ($76.8 million) takeover for the London-listed company relate to.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
June 10, 2022 04:20 ET (08:20 GMT)
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Read More: BOE Seen Proceeding With Further Rates Rises, Says Deutsche Bank