UKX FTSE 100 Index

Sterling Could Fall as BOE Contends With Weak Growth, High Inflation

0812 GMT - The U.K.'s weak economic prospects combined with high inflation poses a challenge for the Bank of England and could weigh on sterling, Commerzbank says. The German bank is more pessimistic about the U.K. outlook than any other economy, Commerzbank currency analyst Ulrich Leuchtmann says in a note. That means the BOE is facing a difficult choice between battling high inflation and supporting the economy, he says. "It is difficult to imagine that the British central bankers will master these wanderings without damaging GBP." GBP/USD drops 0.1% to 1.2323 and EUR/GBP rises 0.1% to 0.8837 after earlier hitting a one-week high of 0.8853, according to FactSet. (renae.dyer@wsj.com)

 
Companies News: 

Fresnillo 2022 Gold Production Fell, Sees 2023 Production Potentially Rising

Fresnillo PLC on Wednesday said its 2022 gold production fell in line with expectations though silver production rose, and it forecast a range including potentially higher gold production in 2023.

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Quilter 4Q Assets Under Management Down On Year

Quilter PLC on Wednesday said its fourth-quarter assets under management and administration came in below those of a year earlier due to slower activity in equity markets and slightly lower bond yields in the three-month period.

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Aviva Estimates GBP50 Mln Cost Due to UK December Weather

Aviva PLC said Wednesday that it expects the cold weather in the U.K. during December to cost around 50 million pounds ($61.6 million) and that its overall weather experience for the quarter year is marginally above the long-term averages, although in line for the year as a whole.

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J.D. Wetherspoon 1H Sales Rose On Year But Remain Short of Prepandemic Levels

J.D. Wetherspoon PLC said Wednesday that sales for the first half of fiscal 2023 rose on year though remained below prepandemic levels, and said it was cautiously optimistic for the full-year.

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easyJet Expects to Beat FY 2023 Pretax Profit Market Consensus After 1Q Revenue Rose

easyJet PLC said Wednesday that it expects to beat fiscal 2023 market consensus for pretax profit after first-quarter revenue rose, and that booking strength continues across the second quarter and into the summer season.

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CMC Markets Sees FY 2023 Net Operating Income in Line With Views

CMC Markets PLC said Wednesday that net operating income for fiscal 2023 is on track to meet market expectations, but didn't provide any figures

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Tullow Oil to Report Higher Revenue, Free Cash Flow Ahead of Guidance for 2022

Tullow Oil PLC said Wednesday that it expects to report a rise in revenue for 2022, and that free cash flow for the year will be around $267 million and ahead of guidance.

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Polymetal Meets 2022 Production Expectations; Sees 2023 Costs Rising Slightly

Polymetal International PLC said Wednesday that it met production guidance in 2022, and guided for roughly flat production and slightly higher costs in fiscal 2023.

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Pendragon to Beat 2022 Underlying Pretax Profit Forecasts After Strong 4Q

Pendragon PLC said Wednesday that it expects to beat 2022 underlying pretax profit market expectations after a strong fourth-quarter performance.

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OnTheMarket Expects Higher Adjusted Operating Profit for FY 2023

OnTheMarket PLC said Wednesday that its adjusted operating profit for fiscal 2023 is expected to rise in line with management expectations.

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hVIVO Shares Rise on Expected Higher 2022 Revenue; To Make Shareholder Distribution

Shares in hVIVO PLC rose Wednesday after the company said it expects to report a year-on-year rise in revenue for 2022 and that it intends to make a shareholder distribution in respect of 2022's financial performance.

 
Market Talk: 

EasyJet's 1Q Pricing Performance Strong But Behind Peers

0816 GMT - Although easyJet reported a narrowed 1Q adjusted pretax loss of GBP133 million, this was below Visible Alpha consensus of GBP128 million, Citi analyst Sathish B. Sivakumar says in a note. The low cost carrier has seen strong pricing momentum of around 4% above December 2019's levels, with overall pricing up around 17% above 2019, broadly offsetting the cost pressure with headline cost per seat--excluding fuel--at GBP56.21, Sivakumar says. "We see pricing performance in 1Q is strong, but has under-performed peers. Hence, it is likely to be negative sentiment on shares," he says. Citi rates the stock sell and has a 270 pence target price. Shares are up 7.5% at 503.20 pence. (anthony.orunagoriainoff@dowjones.com)

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

January 25, 2023 03:35 ET (08:35 GMT)

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