FTSE 100 Seen Flat as Oil Prices Fall; Fed Minutes Digested
November 24 2022 - 3:30AM
Dow Jones News
FTSE 100 Seen Opening Flat as Oil Prices Fall
0746 GMT - The FTSE 100 is seen opening little changed,
according to IG, as oil prices fall and as investors digest the
Federal Reserve's latest meeting minutes. Oil prices drop after
news the Group of Seven nations were considering a high price cap
on Russian oil, easing fears of a supply disruption. The Fed's
meeting minutes, released Wednesday, showed most Fed officials
support slowing the pace of interest rate rises soon. "That's
nothing new, Fed Chair Jerome Powell has been very clear at his
latest press conference that the Fed would deliver smaller rate
hikes, but the terminal [peak] rate would be higher," Swissquote
Bank analyst Ipek Ozkardeskaya writes. (renae.dyer@wsj.com)
Companies News:
Kingfisher Cuts FY 2023 Profit Views Amid Higher Investments
Kingfisher PLC said Thursday that profit for fiscal 2023 is
expected to be lower than previously guided as the company
increased investments and expenses.
---
Intertek Revenue Rose in 2H to Date; Sees 2022 Earnings
Growth
Intertek Group PLC said Thursday that it is on track to deliver
its full-year targets after booking 8.5% revenue growth at constant
currency in the period from July to the end of October.
---
Dr. Martens 1H Pretax Profit Fell on Higher Costs; Boosts
Dividend
Dr. Martens PLC said Thursday that pretax profit for the first
half of fiscal 2023 fell amid higher costs, but increased its
dividend payout to reflect its confidence in the future of the
business.
---
Hornby 1H Loss Widened But Flags Strong Order Book
Hornby PLC said Thursday that its first-half loss widened, as it
refrained from giving a full-year outlook ahead of the busy
Christmas period.
---
TClarke Sees 2022 Revenue Below Expectations Despite Strong 2H
to Date
TClarke PLC said Thursday that trading for the second half of
the year to date has been strong, but revenue for the year will be
less than previously planned, with 40 million pounds ($48.2
million) of that expected to be booked next year.
Market Talk:
Rio Tinto Investor Day Seen Focused on Projects
0213 GMT - Rio Tinto is expected to update the market on its
suite of iron-ore projects--including Bedded Hill Top, Hope Downs 2
and Brockman Syncline 1--at its 2022 investor day planned for Nov.
30, Macquarie analysts say in a note. "We believe any projects that
contribute to Pilbara iron ore's incremental growth over the medium
term would present a positive catalyst for the stock," they say.
The analysts are also keen to hear more on the miner's copper and
lithium organic expansion plans, including any potential for
greater-than-expected growth at its U.S. Kennecott operations. "The
Rincon lithium project is still at an early stage, however,
additional information on permitting, technology and operational
capability could improve market's confidence and increase
development optionality," they add. (rhiannon.hoyle@wsj.com;
@RhiannonHoyle)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
November 24, 2022 03:15 ET (08:15 GMT)
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