London Shares Expected to Open Higher After Asia Gains
August 02 2021 - 03:06AM
Dow Jones News
FTSE 100 Expected to Open Higher After Asia Gains
The FTSE 100 is expected to open higher, tracking gains in Asian
stocks as worries over China's regulatory clampdowns ease.
Spreadbetting firm IG expects London's blue-chip index to rise 43
points. Last week, Asia markets had significant declines due to
China's regulatory crackdown and the extent of those falls appears
to have prompted a softening in tone by Chinese authorities and a
recovery in Asia stocks on Monday, CMC Markets analyst Michael
Hewson says. "This looks set to translate into a positive open for
European markets as we look ahead to a big week of economic data,"
he says. At 0830 GMT, the final July U.K. manufacturing purchasing
managers index survey will be published.
Companies News:
HSBC's Profit Rises as Pandemic Provisions Recede
The global lender earned $3.4 billion in the quarter ended June,
much higher than the $192 million it reported for the same period
last year, after it reduced provisions for bad loans caused by the
economic fallout from the coronavirus pandemic.
---
Meggitt Swung to 1H Profit, But Underlying Ebitda Fell 25%
Meggitt PLC on Monday reported that it swung to a profit in the
first half of the year, although its underlying performance
continued to be affected by the Covid-19 pandemic in the
period.
---
SSE Agrees to Sell Stake in SGN for GBP1.22 Bln
SSE PLC said Monday that it has agreed to sell its remaining
33.3% stake in gas-distribution company Scotia Gas Networks Ltd. to
a consortium for 1.22 billion pounds ($1.70 billion).
---
Photo-Me International Upgrades FY 2021 Pretax Profit, Revenue
Views
Photo-Me International PLC said Monday its performance in the
third quarter of fiscal 2021 was stronger than expected, leading
the company to upgrade its pretax profit and revenue expectations
for the full year.
---
Escape Hunt Expects Fall in 1H Revenue
Escape Hunt PLC said Monday that it expects to report lower
revenue for the first half of 2021 due to restrictions stemming
from the pandemic, especially in the U.K.
---
Sanne Group Is in GBP1.49 Bln Takeover Talks With Apex Group
Sanne Group PLC said Monday that it is in advanced talks with
Apex Group Ltd. about a possible 1.49 billion pound ($2.07 billion)
takeover for the provider of alternative asset and corporate
services.
---
Senior Swung to 1H Profit, But Performance Remains Hit by
Pandemic
Senior PLC on Monday reported that it swung to a profit in the
first half of the year, but its underlying performance worsened
from a year earlier.
---
Dialight Chairman Steps Down; Karen Oliver Named Successor
Dialight PLC said Monday that Chairman David Blood has decided
to step down from this role and that non-executive director Karen
Oliver has been appointed to the role.
Market Talk:
HSBC's Cost Cutting Efforts May Mitigate Rising Tech
Expenses
0558 GMT - HSBC Holdings says its cost reduction program could
help mitigate its rising technology investment costs. The lender
spent about $3.0 billion on technology in 1H, up 4% on year, as
"digitize at scale" is one of its four pillars of strategy.
Technological improvement will reduce cost base and make customer
experience better, it says, and expects adjusted operating expenses
for 2021 to be broadly in line with 2020. HSBC aims to expand its
digital service that allows international customers to hold and
send funds in various currencies without paying fees to more
countries this year, having already rolled it out in the U.S.,
Singapore and the UAE.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-931
(END) Dow Jones Newswires
August 02, 2021 03:02 ET (07:02 GMT)
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