FTSE 100 Seen Extending Gains as Asia Stocks Recover
June 21 2022 - 3:17AM
Dow Jones News
FTSE 100 Seen Opening Higher as Asia Stocks Recover, US Stock
Futures Rise
0639 GMT - The FTSE 100 is seen rising at the start of trading
following a recovery in Asian stocks and ahead of an expected
higher open on Wall Street after U.S. markets were closed Monday
for a holiday. Spreadbetting firm IG expects the London index of
blue-chip stocks to open 14 points higher after closing up 105
points on Monday when other European indices also gained. The Dow
is expected to open up 83 points, according to IG. "Asia markets
have picked up where markets in Europe left off, drifting higher,
and along with US future today's European open looks set to be a
positive one, as US markets return later today," CMC Markets
analyst Michael Hewson writes. (renae.dyer@wsj.com)
Companies News:
DS Smith FY 2022 Profit Rose Amid Volume Growth, Expects Trend
to Continue
DS Smith PLC on Tuesday reported higher profits amid record
volume growth for fiscal 2022, and forecast that its performance
will improve again this year.
---
easyJet to Buy 56 New Aircraft from Airbus, Convert 18
Others
Budget airline easyJet PLC said Tuesday that it is buying 56
Airbus A320neo family aircraft from Airbus SE and converting 18
A320neo family aircraft into 18 A321neo aircraft.
---
John Wood Names COO Ken Gilmartin as Incoming CEO
John Wood Group PLC said Tuesday that Chief Operating Officer
Ken Gilmartin will become chief executive officer, effective July
1, taking over from current CEO Robin Watson.
---
HSS Hire Sees 2022 Adjusted Ebita in Line With Market Views
HSS Hire Group PLC said Tuesday that it expects to report
adjusted Ebita for the full year in line with market expectations
as it continues to manage ongoing macroeconomic challenges
effectively.
---
Telecom Plus FY 2022 Revenue, Pretax Profit Rose on Demand,
Underlying Organic Customer Growth
Telecom Plus PLC said Tuesday that it booked record results that
were ahead of expectations for fiscal 2022, with increased revenue
and pretax profit, after improved demand and underlying organic
customer growth.
---
Safestore 1H Pretax Profit Rose on Investment Gains; Sees
Full-Year Earnings Rising
Safestore Holdings PLC said Tuesday that its pretax profit and
revenue rose for the first half of fiscal 2022, driven mainly by
investment property gains, and forecasts full-year earnings
slightly above market views.
Market Talk:
Ocado Group Fundraise Could Raise Concerns About Liquidity
0622 GMT - Ocado Group's fundraise reflects a material cash burn
and concerns about liquidity, Shore Capital analysts Clive Black
and Darren Shirley say in a research note. The U.K. online grocer's
funding of customer commitments has no timeframe defined meaning
that it could generate GBP6 billion of revenue, but in an unclear
time period, the analysts say. The retail-technology specialist is
correct in expecting the online market to grow in the medium term,
but pandemic normalization is contracting the growth pace meaning
the online market is actually heading to a recession where Ocado
could be especially exposed, they say.(michael.susin@wsj.com)
Ryanair Is Seen Well Placed to Navigate Summer Bottlenecks
Plaguing Peers -- Market Talk
0600 GMT - Meeting the sharp rebound in air-travel demand is
proving a challenge for many European airlines this summer, but
Ryanair could be one of the winners of the season, Citi analyst
Sathish B Sivakumar says. Many carriers have warned of operational
logjams involving tight staffing and insufficient airport capacity
that prevent them from ramping up fast enough to meet demand, or
forcing them to cancel flights. Irish budget airline Ryanair is
somewhat of an outlier: It has been able to ramp up capacity much
more comfortably because it didn't lay off staff during the
Covid-19 pandemic, Sivakumar says. The fact that it operates out of
smaller airports also works to its advantage, he says. "[Ryanair]
are kind of protected in their ability to operate at capacity,"
Sivakumar says. (cristina.roca@wsj.com; @_cristinaroca)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
June 21, 2022 03:02 ET (07:02 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Aug 2024 to Sep 2024
FTSE 100
Index Chart
From Sep 2023 to Sep 2024