Markets Price in Steep UK Interest Rate Rises
October 19 2021 - 4:55AM
Dow Jones News
Markets Price in Steep UK Interest Rate Rises
0822 GMT - Markets are pricing in a steep pace of interest rate
rises in the U.K., which could intensify further after Wednesday's
inflation data, says Deutsche Bank. "Markets are now pricing in a
move in the bank rate up to around 0.45% by the December meeting
... and up to around 0.95% by the June meeting," analysts at the
bank say. They add there are around 15-30 basis points more priced
in across the next several meetings from Friday's close. Tomorrow's
consumer price index data "will likely be the calm before the storm
given favourable base effects and with other pipeline inflation
items yet to feed into the data," they say.
(lorena.ruibal@wsj.com)
Companies News:
BHP First-Quarter Iron Ore, Copper Output Falls
BHP Group Ltd. produced less iron ore, copper and steelmaking
coal in its first fiscal quarter mostly because of planned
maintenance work at its operations.
---
Centamin Reports Higher 3Q Revenue, Backs 2021 Guidance
Centamin PLC on Tuesday reported higher revenue for the third
quarter and reaffirmed full-year production and cost guidance.
---
UK Govt to Investigate Parker Hannifin's $8.65 Bln Planned
Takeover of Meggitt
The U.K. Government said late Monday that it was investigating
Parker Hannifin Corp.'s planned 6.3 billion pound ($8.65 billion)
takeover of Meggitt PLC on national security grounds.
---
Hochschild to Demerge 80% Stake in Aclara Rare Earths
Project
Hochschild Mining PLC said Tuesday that it intends to demerge a
majority stake in its Aclara rare earths project in Chile ahead of
its listing on the Toronto Stock Exchange.
---
Bellway FY 2021 Pretax Profit Rose Significantly; FY 2022 Has
Begun Well
Bellway PLC said Tuesday that its pretax profit more than
doubled in fiscal 2021 and that the new year began well.
---
888 Holdings Says 3Q Revenue Rose 7% to $230 Mln
888 Holdings PLC on Tuesday reported a 7% increase in revenue
for the third quarter of the financial year.
---
Wise PLC 2Q Revenue, Transaction Volumes Rose
Wise PLC said Tuesday that revenue and transaction volumes grew
significantly in the second quarter of fiscal 2022, in line with
its forecasts, and that it expects to continue performing in line
with guidance.
---
IntegraFin Funds Under Direction Rose in 4Q
IntegraFin Holdings PLC said Tuesday that funds under direction
increased in the fourth quarter of fiscal 2021 compared with the
year-earlier quarter.
---
Moneysupermarket.com Says 3Q Revenue Fell 10% But Backs 2021
Ebitda Guidance
Moneysupermarket.com Group PLC on Tuesday reported a 10% fall in
third-quarter revenue but said it still expects to meet Ebitda
market expectations for the year.
Market Talk:
Bellway Is In Good Shape, But Hurdles Loom
0815 GMT - Shares in Bellway rise 3% after the U.K.
house-builder reported higher full-year profit. Trading firm eToro
says the company is in good shape, with strong demand helping to
boost profit, revenue, margins and cash. "However, one of the key
drivers of market demand of the past year--the government's
stamp-duty holiday--has now ended, which may have a knock-on effect
for transaction numbers in the medium-term," eToro analyst Adam
Vettese says. "While that hasn't happened yet, we're seeing supply
and labor shortages lead to slower production and rising costs for
housebuilders. For now, those added costs are being absorbed by
rising house prices, but prolonged shortages and an extended period
of lower demand could eventually act as a drag."
(philip.waller@wsj.com)
Contact: London NewsPlus, paul.larkins@wsj.com
(END) Dow Jones Newswires
October 19, 2021 04:40 ET (08:40 GMT)
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