FTSE 100 to Open Higher as Traders Focus On Key UK Data

The FTSE 100 is expected to open higher after closing the previous session lower following remarks from Federal Reserve officials supporting the case for imminent policy tightening. Spreadbetter IG expects the London index to start trading up 25 points. "The main focus this week, away from U.S. earnings, is set to be on the latest wages, unemployment and inflation numbers from the U.K. economy, and the Bank of Japan [policy decision] tomorrow," CMC Markets analyst Michael Hewson says. On the corporate front, the main story is GlaxoSmithKline rejecting a GBP50 billion bid from Unilever for the drugmaker's consumer goods arm, he says. If Unilever's shares slump in early trade, markets will consider any decision to raise its bid as unwise, he says.

 
Companies News: 

Ashmore Group 2Q Assets Under Management Fell

Ashmore Group PLC said Monday that assets under management for the second quarter of fiscal 2022 declined by $4.0 billion because of a negative investment performance of $1.8 billion and net outflows of $2.2 billion.

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Hikma to Buy Canadian Assets of Teligent for $45.75 Mln

Hikma Pharmaceuticals PLC said Monday that it is buying the Canadian assets of Teligent Inc. for $45.75 million.

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Taylor Wimpey Met Its 2021 Views on Sales Rise; Expects Share Buyback

Taylor Wimpey PLC said Monday that its 2021 performance met its expectations with higher completions on year, and said it currently intends to start a share buyback at its full-year results.

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Brighton Pier Sees 1H Sales Up 31% From Pre-Pandemic Levels

Brighton Pier Group PLC said Monday that it expects first-half revenue to be 31% higher than in 2019, before the pandemic.

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Unilever Looking to Reposition Portfolio Into Higher Growth Categories

Unilever PLC said Monday it has decided that its future is in materially expanding its presence in higher-growth categories such as health, beauty and hygiene after it completed a strategic review.

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Distil Nine-Month Revenue Dropped 28%

Distil PLC said Monday that its revenue fell 28% in the first nine months of the fiscal year.

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Capital & Counties Collects Most of 1Q Rent; Covent Garden Value Fell in 2021

Capital & Counties Properties PLC said Monday that it has received most of the rent for the first quarter, and its Covent Garden estate value slipped slightly in 2021 overall.

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Capital & Regional Saw Strong Christmas Trading; Collected Most of 2021 Rent

Capital & Regional PLC said Monday that it enjoyed a solid performance over the Christmas period with footfall outperforming the national index, and it collected most of its rent for 2021.

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Big Yellow Group Sees 3Q Revenue Increase

Big Yellow Group PLC said Monday that it expects to report a rise in revenue and like-for-like closing occupancy for the third quarter.

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Petroneft Resources Extends Loan by 12 Months

Petroneft Resources PLC said Monday that it has extended its line of credit by a further 12 months after repaying 20% of the principal sum outstanding and associated interest.

 
Market Talk: 

Unilever's Bid for Glaxo's Consumer-Healthcare Business Seen at Modest Premium

0706 GMT - GlaxoSmithKline has confirmed media reports of Unilever's bids for the pharmaceutical company's 68%-owned consumer-healthcare joint venture, with the latest one in December amounting to GBP50 billion, Jefferies says. However, this latest approach reflects a modest premium of around 10%, with Unilever gaining control of a leading global business and likely able to realize significant synergies, Jefferies says. In addition, the bank says the planned spinoff of GSK's consumer-healthcare business by mid-2022 is widely viewed as an event that could crystallize value, and therefore a sale damps near-term appetite to own the stock.

 

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

(END) Dow Jones Newswires

January 17, 2022 03:08 ET (08:08 GMT)

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