FTSE Seen Opening Marginally Higher, Trade Seen Cautious
September 13 2021 - 3:20AM
Dow Jones News
London Stocks Seen Opening Marginally Higher, Trade Seen
Cautious
The FTSE 100 is expected to open slightly higher, at around
7053, having closed at 7029.20 on Friday, but with traders staying
cautious due to concerns about weak growth combined with high
inflation, according to IG. "Since the disappointing U.S. jobs
report at the beginning of the month, confidence in the broader
recovery story has started to ebb away, and ergo so has confidence
in the outlook for stock markets more generally," says Michael
Hewson, analyst at CMC Markets. Concern is also growing that
inflationary pressure may be more persistent than central banks
have been anticipating, he says. AB Foods and FirstGroup will be in
focus after trading updates.
Companies News:
Rolls-Royce, Babcock to Sell Stake in AirTanker Holdings
Rolls-Royce Holdings PLC and Babcock International Group PLC
said Monday that they have agreed to sell their respective
shareholdings in AirTanker Holdings Ltd. to Equitix Investment
Management Ltd.
---
AB Foods Sees FY Adjusted Operating Profit Growth
Associated British Foods PLC said Monday that its full-year
adjusted operating profit is now expected to surpass the previous
year's despite lower-than-expected sales, and that both Primark and
the AB Food business are anticipated to exceed management's
previous expectations.
---
SThree's FY 2021 Pretax Profit Seen Ahead of Market Views
SThree PLC said Monday that its performance for the third
quarter of fiscal 2021 was very strong, with full-year pretax
profit now expected to be significantly above market
expectations.
Market Talk:
Aluminum Nears $3,000 a Ton as Coal, Alumina Prices Rally
0622 GMT - Aluminum is extending three consecutive sessions of
gains to trade near $3,000 a ton, as prices of coal and alumina
increase, Marex says. The three-month LME aluminum contract is 2.4%
higher at $2,994.5 a ton, supported by surging coal prices in China
as energy accounts for some 40% of total aluminum production costs
there, the broker says. It adds that alumina supply disruptions in
Brazil and Jamaica, as well as continued uncertainty over bauxite
exports from Guinea, are also supporting. "Power curtailments,
together with more infrastructure stimulus, may help push aluminum
prices even higher," Marex says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
September 13, 2021 03:05 ET (07:05 GMT)
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