European Stocks Rise Ahead of Expected US Gains

1049 GMT - European stocks rise after upbeat Asia trading and ahead of an expected higher U.S. open. The Stoxx Europe 600 and FTSE 100 gain more than 2% and the DAX and CAC 40 advance more than 3%. Brent crude increases 1% to $89.71 a barrel. IG futures data show the Dow opening at 29938, versus Monday's close of 29490. "Stocks in Asia staged an impressive rally following the gains on Wall Street on the first day of 4Q," IG analysts say in a note. "Today's calendar is light on data, but includes speeches from three Fed officials and the president of the European Central Bank." (philip.waller@wsj.com)

 
Companies News: 

Legal & General Backs 2022 Operating Profit; Capital Generation Despite Volatility

Legal & General Group PLC said Tuesday that it continues to benefit from positive momentum in the second half, despite the increased market volatility, and backed its guidance for the full-year operating profit and capital generation.

---

Greggs 3Q Sales Rose, Backs Full-Year Outlook

Greggs PLC said Tuesday that sales for the third quarter of the year rose 15% compared with the same period of 2021, and backed its expectations for the full-year.

---

Morses Club Chairman to Step Down

Morses Club PLC said Tuesday that Chairman Nigel Knowles will step down, effective Nov. 4.

---

Watkin Jones Expects to Miss FY 2022 Market Views on Delayed Sales

Watkin Jones PLC said Tuesday that it expects to have missed market views for fiscal 2022 operating profit due to a delay in two sales, though its second-half performance was better than the first.

---

Gresham Technologies Sees 2022 Revenue Ahead of Market Views

Gresham Technologies PLC said Tuesday that it expects revenue and earnings to be ahead of market expectations for 2022, and committed renewals to boost revenue in 2023.

---

Made.com In Sale Discussions; Profitability Strategy Needs GBP45 Mln-GBP70 Mln

Made.com Group PLC said Tuesday that it has begun discussions with a number of parties regarding the group's sale.

---

Porvair Sees FY 2022 Ahead of Market Views After Strong Start to 4Q

Porvair PLC said Tuesday that it had a strong start to the fourth quarter and that it expects results for the year ending Nov. 30 to be ahead of market expectations.

---

Character Group Sees FY 2022 Meeting Market Views; Expects FY 2023 Slip

Character Group PLC said Tuesday that it expects fiscal 2022 to meet market expectations as sales momentum persisted, but sees fiscal 2023 slipping on macroeconomic headwinds.

---

Inspiration Healthcare 1H Pretax Profit Fell on Supply-Chain Issues

Inspiration Healthcare Group PLC said Tuesday that pretax profit for the first half of fiscal 2022 fell amid higher costs and supply-chain issues.

---

Uniphar Acquires US Healthcare Agency Inspired Health

Uniphar PLC said Tuesday that it has acquired the U.S.-based healthcare agency Inspired Health for an undisclosed sum.

---

MGC Pharmaceuticals Appoints Yifat Steuer COO, Deputy CEO

MGC Pharmaceuticals Ltd. said Tuesday that Yifat Steuer has been appointed chief operating officer and deputy chief executive officer, and that Brett Mitchell's role as chairman has transitioned from an executive to a nonexecutive position.

 
Markewt Talk: 

Greggs' 3Q Update Should Sate Investor Appetites

1050 GMT - Greggs' third-quarter update was pure comfort food for investors, as the U.K. bakery chain maintained its guidance despite all the pressures on consumers and a backdrop of rapidly rising costs, AJ Bell says. New CEO Roisin Currie's ability keep a lid on inflationary pressures is some feat and suggests the company has managed its cost base effectively, AJ Bell financial analyst Danni Hewson says in a research note. "The coming months will be a real acid test for Greggs as a proposition. Will people see it as an affordable option? Or will consumer spending be so pressured that sales dwindle? The trick is to keep selling products at attractive prices without sacrificing margins too much," Hewson says. Shares are up 8.9% at 1,877.0 pence. (joseph.hoppe@wsj.com)

Wizz Air Gains After September Passenger Numbers Rise

1046 GMT - Wizz Air Holdings gains more than 3% after the eastern and central European-focused budget airline reported higher passenger numbers last month than in September last year. While the airline sector has faced strikes, delays, queues and cancellations during the summer, numbers improved strongly during September--up 51.5% to about 4.6 million versus a year ago--partly due to low comparables last year, Interactive Investor says. "Shares in Wizz have suffered heavy losses this year, shedding two thirds of their value with Russia's invasion of Ukraine weighing heavily on its share price," Interactive Investor Head of Investment Victoria Scholar writes. "Today's update comes as a welcome development for investors." (philip.waller@wsj.com)

 

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

October 04, 2022 07:21 ET (11:21 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Oct 2022 to Nov 2022 Click Here for more FTSE 100 Charts.
FTSE 100
Index Chart
From Nov 2021 to Nov 2022 Click Here for more FTSE 100 Charts.