FTSE 100 Seen Opening Higher, Oil Recovers
November 29 2021 - 3:23AM
Dow Jones News
London Stocks Seen Opening Higher
The FTSE 100 is expected to open 98 points higher, according to
IG, having closed Friday at 7044.03, as equity markets recover from
a steep slide due to fears about the spread of the new Omicron
variant of Covid-19. Concerns about this remain, with the potential
for travel restrictions or other restrictions that could hamper
business, but analysts say initial reports suggest the variant
might not be dangerous. "The good news is the WHO said that the
symptoms of the new Omicron were rather 'mild' so far," Ipek
Ozkardeskaya, analyst at Swissquote, said. Traders will keep an eye
on the oil price, which recovers Monday after recent sharp falls,
she said.
Companies News:
Hammerson in Talks to Sell Silverburn Shopping Center for GBP140
Mln
Hammerson PLC said Monday it is in talks to potentially sell
Silverburn, its flagship shopping center near Glasgow, for around
140 million pounds ($186.7 million).
---
A.G. Barr Sees FY 2022 Pretax Profit, Revenue Ahead of Market
Expectations
A.G. Barr PLC said Monday that the positive performance it first
disclosed in September has continued and it now expects revenue and
pretax profit for fiscal 2022 to exceed market expectations.
---
U.K. Watchdog Refers CHC/Babcock International Deal for Further
Review
The U.K. Competition and Markets Authority said Monday that it
will refer CHC Group LLC's acquisition of Babcock International
Group PLC's oil-and-gas offshore helicopter business for a further
review after CHC said that it won't offer any solution to address
the regulator's competition concerns.
---
Grafton's Traditional Merchanting Business Sale Raises
Competition Concerns, UK Watchdog Says
The U.K. Competition and Markets Authority said Monday that
Grafton Group PLC's planned sale of its traditional merchanting
business in Great Britain to Huws Gray could create competition
issues and that it will refer the deal for a further review unless
the parties offer an acceptable undertaking to address its
concerns.
---
Gresham House Strategic Proposes Wind-Down; Initial GBP25 Mln
Capital Return
Gresham House Strategic PLC said Monday that it has recommended
proposals for a managed wind-down of the company, and proposed an
initial return of capital of up to 25 million pounds ($33.3
million).
---
Amigo Holdings Proposes New Scheme Involving Dilutive Equity
Raise, Lending Restart
Amigo Holdings PLC said Monday that it has proposed a scheme to
address the complaints liability which involves an equity raise
that is likely to result in material dilution for existing
shareholders.
---
Benchmark Holdings Raises GBP20.7 Mln Via Share Issue
Benchmark Holdings PLC said Monday that it has raised 20.7
million pounds ($27.6 million) via a share issue to fund its growth
initiatives.
---
Constellation Automotive Launches GBP322.9 Mln Takeover for
Marshall Motor
Constellation Automotive Holdings Ltd. on Monday launched a
322.9 million-pound ($430.7 million) takeover for Marshall Motor
Holdings PLC.
---
Dev Clever Sees FY 2021 Earnings 'Materially Ahead' of
Expectations
Dev Clever Holdings PLC said Monday that it expects to report
adjusted earnings before interest, taxes, depreciation and
amortization materially ahead of management expectations for the
year ended Oct. 31.
Market Talk:
Rio Tinto Faces Biggest Risk to Iron-Ore Output, Capex From
Heritage Law Changes
Rio Tinto faces the greatest risk to iron-ore production and
capex among major miners from Western Australia state's heritage
law changes, Goldman Sachs says. The changes to the heritage laws
are expected to pass by year-end and will likely increase the time
taken for permit approvals, the bank says. With a possible 17
"replacement" mines to be constructed from 2021-2027, Rio has the
highest number of mines to build in the years ahead, versus rivals
BHP and Fortescue, as it seeks to balance falling tonnages from
maturing pits, Goldman Sachs says.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
November 29, 2021 03:08 ET (08:08 GMT)
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