London Shares to Open Broadly Flat After Asia, US Losses
July 28 2021 - 3:17AM
Dow Jones News
FTSE 100 Set to Open Broadly Flat After Asia, US Losses
The FTSE 100 is expected to edge five points higher to 7001,
according to CMC Markets, after mostly downbeat trading in Asia and
a lower close on Wall Street Tuesday. Markets in mainland China,
Japan and elsewhere fall, though Hong Kong's Hang Seng is higher,
while the Dow Jones closed 0.2% lower. "As we look towards this
morning's European open, last night's blockbuster tech results only
appear to have offered a modest uplift after yesterday's declines,
while Asia markets have continued to be buffeted by turmoil created
by events in China and the regulatory environment there, as we look
towards the Fed later," CMC's Michael Hewson says.
Companies News:
Barclays 2Q Pretax Profit Rose Above Views, Pre-Pandemic
Levels
Barclays PLC on Wednesday reported a significant rise in pretax
profit for the second quarter, which surpassed market views and
pre-pandemic levels.
---
ITV 1H Pretax Profit Recovered; Sees Encouraging Advertising
Outlook
ITV PLC said Wednesday that first-half pretax profit rose
sharply as revenue from advertising and its studios recovered from
the hit caused by the coronavirus pandemic, and said it is
encouraged by the advertising outlook for the coming months.
---
Metro Bank's 1H Pretax Loss Narrowed
Metro Bank PLC reported Wednesday a narrowed pretax loss for the
first half of the year, in line with guidance.
---
Aston Martin Lagonda 2Q Loss Narrowed as Revenue Soared
Aston Martin Lagonda Global Holdings PLC on Wednesday reported a
narrowed loss for the second quarter of 2021, as revenue was
significantly higher than a year earlier.
---
St. James's Place Swung to 1H Pretax Profit
St. James's Place PLC said Wednesday that it swung to pretax
profit for the first half and that it expects the rate of gross
inflow growth in the second half to be around 20% despite
strengthening comparatives in the latter part of the year.
---
Rio Tinto 1H Net Profit, Dividends Sharply Higher
SYDNEY--Rio Tinto PLC notched a $12.31 billion first-half net
profit and more than tripled its midyear payout to shareholders,
benefiting from a bull run in commodity prices that has stoked
inflation expectations around the world.
---
Man Group 1H Pretax Profit Rose Significantly
Man Group PLC reported Wednesday a significant rise in pretax
profit for the first half of 2021, achieving record-high funds
under management in the period.
---
Staffline Sees 1H Revenue, Gross Profit Rise Ahead of
Expectations
Staffline Group PLC said Wednesday that it expects to report
first-half revenue and gross profit both rose ahead of its
expectations on the back of strong trading.
---
Rathbone Brothers 1H Pretax Profit Rose
Rathbone Brothers PLC said Wednesday that pretax profit for the
first half of the year rose, and that it has entered the second
half in a robust position.
Market Talk:
Sabre Insurance's 1H Performance Prompts Forecast Downgrades
0541 GMT - Sabre Insurance Group's first-half results were once
again lacklustre as a weak top line put pressure on the expense
ratio, Berenberg says. The FTSE 250 motor insurer's guidance for
the current combined ratio--the proportion of revenue taken up by
losses and expenses--of 70%-80% is also very stretched going into
next year, Berenberg says. It is highly unlikely to materialize,
the brokerage says. "Consensus estimates must come down materially
and unfortunately this will lead to weak share price performance."
Berenberg cuts its recommendation on the stock to sell from hold
and lowers its target price to 224 pence from 257 pence.
---
BHP's Noront Offer Reflects Shift Toward Battery Commodities
0002 GMT - BHP's unexpected takeover offer for Noront Resources
reflects BHP's desire to increase output of commodities used in
batteries, says Macquarie. "The move to acquire Noront Resources is
a surprise, although at just C$325 million, accounts for circa 0.1%
of BHP's market capitalization," Macquarie says. Noront owns the
Eagle's Nest nickel, copper and platinum group metals project, as
well as other exploration assets. BHP's only nickel exposure is its
Nickel West operation in Australia. "Given the comparatively small
scale of Eagle's Nest, we suspect BHP's acquisition is more focused
on Noront's substantial exploration tenement portfolio in the Ring
of Fire," Macquarie says.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
July 28, 2021 03:04 ET (07:04 GMT)
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