FTSE 100 Poised to Fall After Downbeat Asia Trading
0636 GMT – The FTSE 100 looks set to open 50 points lower at 7250, according to IG futures data, after mostly downbeat trading in Asia and a negative close on Wall Street. Most Asia markets are trading in the red, though mainland Chinese stocks gain 0.2%. The Dow closed 0.5% lower Tuesday. Brent crude falls 1.3% to $91.59 a barrel. “Last night’s weak U.S. close looks set to translate into a lower European open, although today’s weak Asia session has also played a part after some disappointing China trade data,” CMC Markets analyst Michael Hewson says in a note. (philip.waller@wsj.com)
Companies News:
Bakkavor 1H Pretax Profit Fell on Higher Costs, Raises Dividend
Bakkavor Group PLC said Wednesday that pretax profit for the first half of 2022 fell on higher sales and distribution costs, and that it expects to deliver operating profit in line with market expectations.
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M&C Saatchi 1H Pretax Profit Fell on Takeover Related Costs
M&C Saatchi PLC said Wednesday that pretax profit for the first half of 2022 fell after it booked costs related to two competing takeover offers for the company.
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WH Smith’s FY 2022 Seen in Line with Upgraded Views
WH Smith PLC said Wednesday that it expects to close its fiscal 2022 in line with its latest upgraded expectations after benefiting from a continuing recovery in the travel and high streets businesses in the last quarter of the financial year.
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Barratt FY 2022 Pretax Profit Fell on Sales Costs, Starts GBP200 Mln Share Buyback
Barratt Developments PLC said Wednesday that fiscal 2022 pretax profit fell despite a rise in revenue as sales costs increased, and began a 200 million-pound ($230.4 million) share buyback program.
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GB Group Says It Will Mull a Potential Cash Offer From GTCR
GB Group PLC said Wednesday that its board will evaluate a potential cash offer from the U.S.-based private-equity firm GTCR LLC.
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James Fisher & Sons 1H Pretax Profit Fell as Operating Margins Held Back by Portfolio Mix
James Fisher & Sons PLC said Wednesday that pretax profit fell in the first half of 2022 as its portfolio mix held back operating margins, and that it expects underlying operating profit for the year to be broadly in line with 2021.
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City of London Group FY 2022 Pretax Loss Widened
City of London Group PLC on Wednesday reported a widened pretax loss for fiscal 2022 and said its performance is a reflection of the transition of the group, which is in line with its core strategy.
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Halfords Group 20-Week Revenue Rose, Backs FY 2023 Pretax Profit Target
Halfords Group PLC said Wednesday that revenue for the 20-week period ended Aug. 19 rose, and backed its underlying pretax profit target for fiscal 2023.
Market Talk:
Rio Tinto May Draw Debt or Cut Payout Ratio for Turquoise Hill Deal
0114 GMT – Rio Tinto will likely need to draw additional debt, or cut its 2022 and 2023 dividend payout ratio, if its takeover of Turquoise Hill is successful, Macquarie analysts say in a note. A binding agreement for Rio Tinto to take full ownership of Turquoise Hill marks a key milestone for the proposed deal, they say. “We note the cash offer still requires majority approval from the 49.2% minority shareholders,” they say. Rio Tinto is down 1.3% at A$89.59/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
September 07, 2022 03:07 ET (07:07 GMT)
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