FTSE 100 Closes Friday Up on China Overnight Rate Cut
The FTSE 100 closed up 1.17% Friday as China's overnight rate
cut boosted sentiment among European indices, though investors seem
to remain nervous. "It has been another see-saw week in markets, as
a rally in the first part of the week turned to dust in the second,
but China's rate cut has provided the rationale for a bounce in
global stocks to round off the week," IG Group PLC's chief market
analyst Chris Beauchamp says in a research note. However, this
might be a short-term rally many will use to get out at a better
price, Mr. Beauchamp says. "Next week's Fed minutes will remind
markets that there is more to come from Powell and co., even if the
BoE faces a trickier balancing act," Mr. Beauchamp says.
THG Rejects GBP2.07 Bln Bid From Belerion Capital, King
THG PLC said late Thursday that it has rejected a proposal from
investment companies Belerion Capital Group Ltd. and King Street
Capital Management, LP for 170 pence a share, which valued the deal
at 2.07 billion pounds ($2.58 billion).
Genel Energy Appoints Luke Clements as CFO
Genel Energy PLC said Friday that it has appointed Luke Clements
as chief financial officer with immediate effect.
Next Fifteen Communications Agrees on GBP310.1M M&C Saatchi
Next Fifteen Communications Group PLC said Friday that it has
reached an acquisition agreement with M&C Saatchi PLC that
values the company at around 310.1 million pounds ($386.8
Croda International Backs FY View Backed on Robust
Croda International PLC said Friday that expectations for the
full year are unchanged as input cost inflation continues to be
Kibo Energy Appoints New CFO
Kibo Energy PLC said Friday that it has appointed Cobus van der
Merwe as chief financial officer, effective June 1.
Restore Says Four-Month Performance Was In Line With Views
Restore PLC said Friday that performance for the four months of
the year was in line with the board's expectations despite
Wincanton FY 2022 Pretax Profit Rose on Lower Costs
Wincanton PLC said Friday that fiscal 2022 pretax profit rose
after booking lower costs, and that it had good momentum in the new
business pipeline and was confident in its future growth
Mast Energy Developments Appoints Pieter Krugel as CEO
Mast Energy Developments PLC said Friday that it has appointed
Pieter Krugel as chief executive, effective June 1.
TheWorks.co.uk Says FY 2022 Performance Ahead of Prepandemic
Levels, Reinstates Dividend
Shares in TheWorks.co.uk PLC rose Friday after it said that its
performance in fiscal 2022 was strong and ahead of prepandemic
levels, and that it was reinstating dividends.
Braemar Shipping Sees FY 2023 Adj. Operating Profit Above
Braemar Shipping Services PLC said Friday that it expects
underlying operating profit for fiscal 2023 to be above market
expectations, and that it intends to declare a dividend payout for
Eagle Eye Sees FY 2022 Revenue, Adjusted Ebitda Ahead of
Eagle Eye Solutions Group PLC said Friday that it expects
revenue and adjusted Ebitda for fiscal 2022 to be ahead of current
market expectations by around 7% and 10%, respectively.
UK 10Y Gilt Yield Rise After Above-Forecast Retail Sales
0914 GMT - U.K. 10-year borrowing costs rise after official data
showed stronger-than-expected retail sales in April. The 10-year
gilt yield trades last at 1.909%, from 1.855% at Thursday's
closing, according to Tradeweb. U.K. retail sales stayed flat at
1.4% in April compared to the previous month, defying expectations
in a WSJ poll of economists that sales would fall 0.3% in the face
of high consumer prices and low consumer confidence. Annual CPI
inflation hit a 40-year high of 9% in April, up from 7% in March
though below expectations for a 9.1% jump.
Croda Stays on Track as Prices Help Offset Cost Rises
0836 GMT - Shares in Croda International are among the FTSE
100's biggest risers, up 3% after the chemical company reiterated
full-year expectations as it continued to offset rising
raw-material costs with higher prices. In a trading update
accompanying its annual general meeting, Croda reported continued
strong FY22 trading and robust demand in North America and Asia,
despite China's coronavirus lockdowns. It said it expects strong
profit margins and no change to consensus expectations. "We expect
a muted share-price response," Jefferies analysts say in a note.
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(END) Dow Jones Newswires
May 20, 2022 11:54 ET (15:54 GMT)
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