FTSE 100 Set for Muted Start After BOE Decision
June 25 2021 - 3:30AM
Dow Jones News
FTSE 100 Set for Muted Start After BOE Decision
0658 GMT - The FTSE 100 is expected to start trading flat,
according to spreadbetting firm IG, after rising in the previous
session following the Bank of England's decision to maintain its
ultra-loose policies. The BOE on Thursday held interest rates at
0.1% and left its bond-buying program unchanged. Meanwhile, travel
shares will be in focus Friday after the U.K. government added new
countries to its so-called green travel list. In the U.S.,
President Biden on Thursday announced that the White House had
struck an infrastructure deal with a bipartisan group of senators.
"While the agreement is welcome it still faces a high bar in
passing into law given the Democrats narrow majorities on Capitol
Hill," CMC Markets analyst Michael Hewson says.
(renae.dyer@wsj.com)
Companies News:
Angle Plans to Raise Up to GBP20 Mln
Angle PLC said Thursday that it plans to raise up to 20 million
pounds ($27.9 million) via a discounted fundraising to expand its
activities and build a senior management team in the U.S.
---
Amigo Extends Securitization Facility Waiver Period
Amigo Holdings PLC said Friday that it has agreed to extend the
waiver period of its securitization facility to Sept. 24.
---
Marshall Motor Sees 2021 Earnings Significantly Above Views
Marshall Motor Holdings PLC on Friday forecast that its 2021
underlying pretax profit will be significantly above current market
expectations, and said that it will consider resuming the dividend
when it releases interim results in August.
---
Xpediator Raises 2021 Guidance
Xpediator PLC on Friday raised its 2021 profit guidance after a
strong first half.
---
CMOStores.com to Seek London IPO in Early July
CMOStores.com Ltd. said Friday that it intends to float on
London's AIM in early July, for an undisclosed amount.
---
CD&R Considering Improved Offer of GBP2.76 Bln for UDG
Healthcare
UDG Healthcare PLC said on Friday that Clayton, Dubilier &
Rice, LLC affiliate Nenelite Ltd. is considering an improved and
final offer of around 2.76 billion pounds ($3.84 billion) after
previously agreeing to a GBP2.61 billion takeover in May.
---
Zenith Energy Extends Deadline for Tunisian Assets
Acquisition
Zenith Energy Ltd. said that the longstop date for its
acquisition of a participation in two hydrocarbon concessions in
Tunisia has been extended to Oct. 31.
---
Inspiration Healthcare Says It Has Had a Good Start to FY
2022
Inspiration Healthcare Group PLC said Friday that it has a had a
good start to fiscal 2022 as interest in its products remained high
and the company had a strong order book.
---
CMA Weighs Probe of TravelSupermarket-Icelolly Merger
The U.K. Competition and Markets Authority said Friday that it
is considering whether the merger between TravelSupermarket and
Icelolly Marketing Ltd. will result in competition issues.
Market Talk:
Deliveroo's Gig-Economy Battle Isn't Over, Hargreaves Lansdown
Says
1630 GMT - Deliveroo has won the latest skirmish in its legal
fight over its gig-economy model, but the battle is far from over,
Hargreaves Lansdown analyst Susannah Streeter says. The U.K. Court
of Appeal confirmed that the U.K. food-delivery company's riders
are self-employed, dismissing a union appeal. However, a European
Commission review of the gig economy is still under way and
investors might push companies to tweak their models, Streeter
says. "There is now much more attention being placed on
environmental, social and governance issues, with workers' rights
increasingly under scrutiny. So while Deliveroo might have still
won for now on legal grounds, the jury is still out in the court of
public opinion," Streeter says. (adria.calatayud@dowjones.com)
Deliveroo Shares Have Best Day Since IPO After Favorable
Ruling
1608 GMT - Deliveroo shares closed up 9.3% and had their best
one-day percentage gain since the company's listing in late March
after the U.K. Court of Appeal confirmed that its riders are
self-employed. Investors cheered news that the U.K. food-delivery
company defended its business model in court, with judges
dismissing a union appeal, Hargreaves Lansdown analyst Susannah
Streeter says. "Concern about the company's reliance on the gig
economy model was one of the factors which contributed to its
disastrous IPO in March," Streeter says. Deliveroo shares closed at
274.90 pence, but are still 30% below their IPO price of 390 pence.
(adria.calatayud@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
June 25, 2021 03:17 ET (07:17 GMT)
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