U.K. House Prices Are Likely to Fall in 2H

0708 GMT - House prices in the U.K. are expected to decline by around 2% in the second half of the year because of the recent surge in mortgage rates, Pantheon Macroeconomics' senior U.K. economist Gabriella Dickens says in a note. Some households may still be able to buy a house because of a strong labor market and the extra savings accumulated during the Covid-19 pandemic, though the increase in mortgage rates for new borrowers will be a burden even if house prices and the average mortgage size hold steady, she says. For 2023, house prices are expected to rise 2.5%, though the forecast assumes that the Bank of England will stop increasing interest rates sooner than markets currently expect, Dickens says. (xavier.fontdegloria@wsj.com)

 
Companies News:

SSE, Equinor to Buy 1.2GW Saltend Gas-Fired Power Station in GBP341 Mln Deal

U.K. energy group SSE PLC said Tuesday that it is acquiring Triton Power Holdings Ltd. with Norway's Equinor ASA from Energy Capital Partners for 341 million pounds ($418.3 million) to be shared equally between the two companies.

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OptiBiotix 2021 Pretax Profit Rose on Higher Revenue; Says Making Good Progress in 2022

OptiBiotix Health PLC said Tuesday that 2021 pretax profit rose as revenue increased, and that it has continued to make good progress since the start of 2022 despite the challenging global environment.

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Wise Reports Higher FY 2022 Profit, Forecasts 30%-35% Revenue Growth for FY 2023

Wise PLC on Tuesday reported an improved profit for the year ended March 31, and forecast revenue growth to continue at 30%-35% in fiscal 2023.

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Wynnstay Group 1H Pretax Profit and Revenue Rose on Higher Inflation, Gas Prices

Wynnstay Group PLC said Tuesday that pretax profit and revenue rose in the first half of its fiscal 2022 as business was ahead of the board's expectations, and that it raised its dividend payout.

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Petrofac Says Performance Remains In Line With Guidance

Petrofac Ltd. said Tuesday that its performance and expectations remain in line with guidance provided in late May.

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Everyman Media Says Jeremy Summerfield Will No Longer Join as CFO

Everyman Media Group PLC said Tuesday that Jeremy Summerfield will no longer join the board as chief financial officer as previously announced.

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Advanced Oncotherapy Raises GBP6.0 Mln Via Share Issue

Advanced Oncotherapy PLC said Tuesday that it has raised 6.0 million pounds ($7.4 million) via equity issue.

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Tribal Group Expects 2022 Revenue to Top Views; Says 1H Ebitda to Be Lower

Tribal Group PLC said Tuesday that it expects 2022 revenue to top its expectations, and that although Ebitda in the first half will be lower, it will recover in the second half.

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Marlowe Swung to FY 2022 Pretax Profit on Higher Revenue; Flags Strong Start to FY 2023

Marlowe PLC said Tuesday that it swung to a pretax profit for fiscal 2022 as revenue rose, and that it has had a strong start to fiscal 2023 with good levels of organic growth consistent with its medium-term high single digit target.

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Jadestone Energy Appoints New CFO

Jadestone Energy PLC said Tuesday that it has appointed Bert-Jaap Dijkstra as chief financial officer, effective Sept. 1.

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President Energy Swung to Profit in 2021 as Oil Price Bounced Back

President Energy PLC on Tuesday reported a profit for 2021, reflecting a recovery in oil-and-gas prices.

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Purplebricks Delays Publication of 2022 Results to August

Purplebricks Group PLC said Tuesday that it will report 2022 results in the first week of August to allow for enough time to complete the audit.

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IG Design 1H Pretax Profit Fell on Higher Costs, to Revise Strategy

IG Design Group PLC said Tuesday that pretax profit for fiscal 2022 fell despite higher revenue, as performance was hurt by higher costs and supply-chain issues.

 
Market Talk:

Recession Fears Bring Two-Way Risk to Rates Prices

0705 GMT - Recession fears have brought much needed two-way risk in rates price action, ING's rates strategists say. "This isn't to say that the past few months were a smooth transition towards a world of higher interest rates, but it feels like last week's rally has really woken up investors to the rates downside scenario," they write in a note. Growing recession fears have undoubtedly contributed to calm long-term inflation swaps, the strategists say. "We are tempted to say that the upside in long-term yields is more limited than a few months ago, and that a bond market sell-off would likely be felt more acutely in the front-end," they add, referring to short-dated bonds. (emese.bartha@wsj.com)

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

(END) Dow Jones Newswires

June 28, 2022 03:42 ET (07:42 GMT)

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