London Stocks Seen Opening Lower

0748 GMT - The FTSE 100 index is expected to open 26.5 points lower, according to IG, having closed on Monday at 7784.87, as traders stay cautious ahead of this week's string of central bank decisions, major U.S. corporate earnings and key economic data. "Sentiment remains fragile thanks to ongoing recession fears, with an elevated risk of a short-term pullback at least should the overall view gleaned from this week's events turn out to be a negative one," IG says in a note. Eurozone inflation data will be released today, while decisions from the Federal Reserve, European Central Bank and Bank of England are due later this week. (jessica.fleetham@wsj.com)

 
Companies News:

Pets at Home Sees FY 2023 Underlying Pretax Profit At Upper End of Consensus

Pets at Home Group PLC on Tuesday raised its pretax profit guidance for its fiscal year after posting a rise in third-quarter revenue.

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British American Tobacco to Create Two New Board Roles, Restructure Regions

British American Tobacco PLC said Tuesday that it will create two new board roles and a regional structure to streamline and accelerate its business transformation.

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De La Rue CFO Rob Harding to Step Down

De La Rue PLC said Tuesday that Chief Financial Officer Rob Harding will be stepping down to join PayPoint PLC as CFO.

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Wickes to Meet 2022 Adjusted Pretax Profit Forecasts After Strong 4Q

Wickes Group PLC said Tuesday that it expects to meet adjusted pretax profit forecasts for the past year after a strong fourth-quarter performance.

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Renewi on Track to Meet FY 2023 Market Expectations

Renewi PLC said Tuesday that it expects the challenging macroeconomic outlook to continue this year, but is on track to meet market views for fiscal 2023.

 
Market Talk:

Sainsbury Rises Amid Bid Speculation

1721 GMT MONDAY- Sainsbury's shares top FTSE 100 risers, up 4.1% following takeover speculation. Costcutter owner Bestway discussed a takeover of Sainsbury before buying a GBP193M ($239M) stake in the UK grocer, according to media reports. "Sainsbury's shares have edged to the top of the FTSE 100 on reports over the weekend that Bestway, despite its denials that it was looking at an acquisition last week, may well be looking to do exactly that," CMC Markets analyst Michael Hewson writes. "It's important to remember that the hurdles to an acquisition remain quite high, given they would have to convince the two largest shareholders of [Qatar Investment Authority and Vesa Equity Investment] of the merits of any deal." (philip.waller@wsj.com)

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

(END) Dow Jones Newswires

January 31, 2023 03:07 ET (08:07 GMT)

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