FTSE 100 to Open Higher as Traders Eye Economic Data

The FTSE 100 is expected to rise at the start of trading as investors look ahead to key data on the U.K. services industry and U.S. labor market. Spreadbetting firm IG sees London's blue-chip index opening 29 points higher. The final July U.K. services purchasing managers' index survey is due at 0830 GMT and July's U.S. ADP private payrolls report is at 1215 GMT. "The latest U.S. jobs data will give an indication on how fast the U.S. labour market is progressing towards the Federal Reserve's policy goal, and how close we are to the 'substantial' progress that the Fed pursues to trigger the most-apprehended tapering of its massive bond buying program," Swissquote Bank analyst Ipek Ozkardeskaya says.

 
Companies News: 

Legal & General Says 1H Performance Was Ahead of Pre-Pandemic Levels; Operating Profit Rose

Legal & General Group PLC reported on Wednesday a rise in operating profit for the first half of 2021 and said its performance for the period was well above pre-pandemic levels.

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Rolls-Royce Holdings to Sell Bergen Engines to Langley Holdings

Rolls-Royce Holdings PLC said Wednesday that it has agreed to sell its Bergen Engines business to global engineering group Langley Holdings PLC for an enterprise value of 63 million euros ($74.7 million).

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Taylor Wimpey Swung to Profit in 1H; Sees 2021 Operating Profit Above Consensus Views

Taylor Wimpey PLC on Wednesday reported a profit for the first half of the fiscal year, and said it expects full-year operating profit above the top end of consensus expectations.

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Ferrexpo Says 1H Profit Soared, Expects Iron-Ore Demand to Ease in 2H

Ferrexpo PLC said Wednesday that its profit more than doubled for the first half of the year, reflecting significantly stronger iron-ore prices, but that it expects demand to ease in the second half.

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AIB Group Swung to a 1H Pretax Profit

AIB Group PLC reported Wednesday a swing to a pretax profit for the first half of 2021 after closing the period with an impairment write-back.

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Keywords Studios Says 1H Adjusted Pretax Profit Nearly Doubled

Keywords Studios PLC said Wednesday that it expects to report that adjusted pretax profit for the first half of the year almost doubled, and that all service lines performed well against the comparative period.

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Morgan Sindall 1H Pretax Profit, Revenue Rose

Morgan Sindall Group PLC said Wednesday that pretax profit rose for the first half as revenue rose, and that the board was confident of a strong performance for the second half.

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THG PLC Buys Cult Beauty for GBP275 Mln; Raises 2021 Guidance

THG PLC said Wednesday that it is buying online beauty retailer Cult Beauty Ltd. for 275 million pounds ($382.7 million) in cash, a deal that will boost sales and adjusted Ebitda and prompting the company to raise its guidance.

 
Market Talk: 

Meggitt Shares Likely to Stay Below the 800 Pence Parker Hannifin Offer Price

0539 GMT - Meggitt's 800 pence-a-share agreed-upon cash offer from Parker Hannifin is attractive and, according to analysts at Berenberg, accelerates the value potential that the engineering company would have been delivered over several years. Although the deal is expected to be completed--it is a relatively simple cash structure and unlikely to encounter competition issues--shares will likely drift around the current 735 pence level, an 8% discount to the offer, Berenberg says. This is due to the need for regulatory clearance from China, the long completion period and potential headline risk stemming mostly from the U.K. media, the brokerage says. Berenberg cuts its stock rating to hold from buy, and raises its target price to 750 pence from 560 pence.

 

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

August 04, 2021 03:02 ET (07:02 GMT)

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