FTSE 100 Seen Opening Flat as Traders Digest UK Budget

The FTSE 100 is expected to start trading little changed after ending the previous session lower following the release of U.K. Treasury chief Rishi Sunak's latest budget statement. Spreadbetting firm IG expects the London index to open 2 points lower after closing down 24 points on Wednesday. Sunak presided over the biggest increase in taxes in any single year since 1993, and takes the overall burden to its highest level since 1949, HSBC economists say. "And of course, at 90% of GDP in 2025, debt still looks very high by historical standards," they say/ On Thursday's agenda, the European Central Bank's policy meeting is at 1145 GMT and U.S. third quarter economic growth data are at 1230 GMT.

 
Companies News: 

WPP 3Q Revenue Grew in All Regions and Markets; Lifts 2021 Guidance

WPP PLC said Thursday that its third-quarter revenue grew and raised its full-year guidance.

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Shell 3Q Adjusted Earnings Fell as Hurricane Ida Hurt Business

Royal Dutch Shell PLC on Thursday reported that its earnings fell 25% in the third quarter, as Hurricane Ida hurt its operations.

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Lloyds 3Q Beat Expectations as Pretax Profit Nearly Doubled

Lloyds Banking Group PLC reported on Thursday a nearly doubled pretax profit for the third quarter of 2021, beating market views.

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DS Smith Says 1H Performance Met Expectations

DS Smith PLC said Thursday that its performance for the first half of the year has been in line with its expectations, with positive box volume growth and good cost recovery through increased pricing.

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Inchcape 3Q Revenue Fell, Upgrades Guidance

Inchcape PLC said Thursday that revenue for the third quarter fell 2% on a reported basis and that it has upgraded its pretax profit guidance.

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Meggitt Warns on Lower 2021 Revenue; Blames Defense, Supply Chain Issues

Meggitt PLC said Thursday that it expects full-year group revenue to be below 2020, blaming a fall in defense as well as the global supply-chain disruption.

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Travis Perkins 3Q Sales Rose, Raises 2021 Guidance to Beat Market Views

Travis Perkins PLC said Thursday that its third-quarter sales rose and that it has raised its 2021 adjusted operating profit guidance above market expectations. It also noted that it is capably managing supply-chain disruption and cost inflation.

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C&C Group Swung to 1H Pretax Profit

C&C Group PLC on Thursday reported a swing to a pretax profit for the first half of fiscal 2022, and said the rate of sale per outlet as of September has improved, with volumes at 93% of those in the same period in 2019.

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Elementis 3Q Revenue Rose; Full-Year Outlook Unchanged Despite Growing Supply-Chain Challenges

Elementis PLC said Thursday that its revenue rose in the third quarter amid strong demand, and that its outlook for the remainder of the year remains unchanged despite rising costs and supply-chain constraints.

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Foxtons Year to September Delivered Strong Performance as Revenue Rose

Foxtons Group PLC said Thursday that it delivered a strong performance and increased revenue for the nine months to September, with all business areas ahead of both 2020 and prior to the coronavirus pandemic.

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Inspecs Group Nine-Month Performance Further Strengthened

Inspecs Group PLC said Thursday that the strong performance it delivered in the first half continued into the third quarter and that it is confident in its outlook for 2021 as a whole.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

October 28, 2021 03:10 ET (07:10 GMT)

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