FTSE 100 Falls as Markets Await More Rate Rises; CEO News Dents
L&G
0939 GMT - The FTSE 100 falls 0.1% to 7756.33 as traders start
the week in cautious mode ahead of expected interest-rate rises
from the U.S. Federal Reserve, the Bank of England and the European
Central Bank later this week. Key economic data, culminating in
monthly U.S. jobs data on Friday, alongside earnings from some of
the biggest U.S. tech names are also awaited this week. Legal &
General falls 2% after the insurer said CEO Nigel Wilson plans to
retire from the board after 10 years in the role. Standard
Chartered and Frasers Group are down more than 2%. Unilever rises
0.9%, however, after appointing Hein Schumacher as its new CEO.
(jessica.fleetham@wsj.com)
Companies News:
Unilever Appoints Hein Schumacher as New CEO
Unilever PLC said Monday that it has appointed Hein Schumacher
as its new chief executive officer, replacing Alan Jope who
announced in September his plan to retire from the company.
---
Shell to Reduce Size of Executive Committee to Improve
Performance
Shell PLC said Monday that it will reduce its executive
committee from nine to seven members to further simplify the
organization and improve performance.
---
Legal & General CEO Nigel Wilson to Retire
Legal & General Group PLC said Monday that Chief Executive
Nigel Wilson plans to retire from the board after 10 years in the
role, and that it will start the search for his replacement.
---
SThree FY 2022 Pretax Profit Rose on Record Net Fee
Performance
SThree PLC said Monday that pretax profit for fiscal 2022 rose
as it booked record net fee performance.
---
888 CEO to Immediately Leave Role
888 Holdings PLC said Monday that Chief Executive Itai Pazner
will immediately leave his role.
---
Finsbury Food Buys Lees Foods for GBP5.7 Mln
Finsbury Food Group PLC said Monday that it has bought
confectionery maker Lees Foods Ltd. for 5.7 million pounds ($7.1
million) in cash.
---
Capital & Counties Properties Says Business Conditions Have
Been Positive
Capital & Counties Properties PLC said Monday that trading
conditions across the Covent Garden estate have been positive over
the past year, with Christmas like-for-like customer sales
exceeding prepandemic levels.
---
Shaftesbury 1Q Occupier Levels Rose; Declares Interim
Dividend
Shaftesbury PLC on Monday said its first-quarter occupier
turnover was 42% higher than the previous year when it was affected
by the Omicron coronavirus variant, and declared an interim
dividend.
---
888 Suspends Some Online Activities Amid Compliance
Investigation
888 Holdings PLC said Monday that it has suspended VIP
activities in certain online markets pending the outcome of an
internal compliance investigation.
---
Computacenter Sees 2022 Result Slightly Ahead of Guidance
Computacenter PLC said Monday that it expects its 2022
performance to be slightly ahead of guidance after a strong fourth
quarter but anticipates inflationary pressures to continue into
2023.
---
Civitas Social Housing Sees Continued Rent Growth in 3Q
Civitas Social Housing PLC said Monday that received rents have
continued to grow in its third quarter, with collections in line
with expectations.
---
Personal Group 2022 Revenue Rose; Sees Profitable Growth in
2023
Personal Group Holdings PLC said Monday that revenue grew in
2022 and that it expects profitable growth in 2023.
---
Unilever Taps Dairy Boss as New CEO -- Update
By Peter Stiff
---
Centralnic to Report Record Revenue, Market-Beating Earnings for
2022
Centralnic Group PLC said Monday that it expects to report
record revenue for 2022 and to beat market forecasts, driven
largely by the growth of the online marketing segment.
---
DP Eurasia Expects to Beat 2022 Adjusted Ebitda Views After Jump
in Sales
DP Eurasia NV said Monday that it expects to beat adjusted core
profit expectations for 2022 as it reported a rise in group system
sales for the year.
---
Impellam Sees 2022 Results Ahead of Views, Declares Special
Dividend After Disposal
Impellam Group PLC on Monday said it sees 2022 results come in
ahead of expectations and that it is selling its regional
specialist and healthcare staffing businesses, leading it to
declare another special dividend of 77.7 pence per share once the
transaction is completed.
---
Sopheon to Report Market Beating 2022 Revenue, Adjusted
Ebitda
Sopheon PLC said Monday that it expects to report a rise in 2022
revenue and adjusted Ebitda and to beat market forecasts.
---
Inspired Energy Shares Rise as 2022 Revenue, Ebitda Expected to
Beat Forecasts
Shares of Inspired Energy PLC rose as much as 15% in early trade
on Monday after the company said that its 2022 revenue beat market
expectations on a strong final half of the year and a
higher-than-than expected growth in its optimization services.
---
Norcros CEO to Step Down; Replacement Appointed
Norcros PLC said Monday that Chief Executive Nick Kelsall has
decided to retire after 30 years with the company, and that Thomas
Willcocks has been appointed as his successor.
---
Lenta Sales Rose 11% in 2022
Lenta PLC said Monday that sales rose 11% on year in 2022,
despite lower consumer confidence denting its fourth-quarter
results.
Market Talk:
Unilever's Appointment of External CEO Is Welcomed
0847 GMT - Unilever's new Chief Executive Hein Schumacher should
be welcomed by investors despite being relatively unknown, RBC
Capital Markets analysts James Edwardes Jones and Emma Letheren say
in a research note. The company is seen needing a cultural and
organizational shake-up, they say. "That said, we think it will be
a while before any results materialize at Unilever," they say. "It
usually takes about 18 months before we see evidence of improved
execution and a re-rating of the shares of a consumer staples
company." RBC Capital Markets has a sector perform rating on the
stock with a price target of 3,900 pence.
(kyle.morris@dowjones.com)
---
Oil Slips With OPEC+ Meeting in Focus
0843 GMT - Oil prices fall as investors await a busy week of
meetings by global central banks and OPEC+. Brent crude oil is down
0.9% at $85.64 a barrel while WTI falls 1.1% to $78.80 a barrel.
OPEC and their Russia-led allies are unlikely to adjust their
output levels when they meet on Wednesday, and are expected to
await more information about China's reopening and Russian
production, ING says. "We do not expect any change in output policy
from the group, given the lingering uncertainty that overshadows
the market, both from a supply and demand perspective," the bank
says in a note. Focus this week is also on the Fed's meeting
Wednesday and the ECB and Bank of England's meeting Thursday.
(william.horner@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
January 30, 2023 05:04 ET (10:04 GMT)
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