The FTSE 100 index fell 0.17% to 7474 as protests in China against Covid-19-related restrictions prompted a selloff in global markets. "With the rest of the world enjoying life and learning to live with Covid, China continues to double down on a strategy that has little chance of success without an accompanying vaccine program," CMC Markets chief market analyst Michael Hewson says in a note. Among the top fallers, insurer Admiral Group fell 4.4% followed by Persimmon, down 3.7% after a rating downgrade from UBS. On the back of lower commodity prices, oil-related stocks BP and Shell were down 1% and 0.3%, respectively, as brent crude fell 1%.

Companies News: 

Superdry in Talks With Bantry Bay Over Replacing GBP70 Mln Line of Credit

Superdry PLC said Monday that it is in negotiations with specialist lending provider Bantry Bay Capital Ltd. to replace its existing asset-backed lending line of credit of up to 70 million pounds ($84.7 million), which expires in January.


PensionBee Group Assets Under Administration Top GBP3 Bln

PensionBee Group PLC said Monday that it has achieved assets under administration of over 3 billion pounds ($3.63 billion) in November due to high customer retention and strong net inflows.


Brickability 1H Pretax Profit, Revenue Rose; Backs Full-Year Market Views

Brickability Group PLC said Monday that pretax profit and revenue in the first half of fiscal 2023 both significantly rose on a strong performance across all group divisions, and backed full-year market expectations.


Yu Group Expects 2022 Results Ahead of Market Forecasts

Yu Group PLC expects to report revenue, adjusted earnings and operational cashflow above market expectations for 2022, citing an "exceptional trading performance" that should continue into the new year.


Inspiration Healthcare's FY 2023 Sales Not Expected to Beat Prior Year

Inspiration Healthcare Group PLC said Monday that sales for the fiscal year ending in January are unlikely to significantly exceed the same period a year earlier, with Ebitda for the second half expected to be less than the first.


Condor Gold to Raise up to GBP4.2 Mln via Loan Note Issue, Open Offer

Condor Gold PLC said Monday that it is planning to raise up to 4.2 million pounds ($5.1 million) via a loan note issue and shareholder open offer which will be used for working capital and to cover short term overheads.

Market Talk: 

Weak UK Economic Outlook and High Inflation Keep UK Gilt Curve Inverted

1135 GMT - High U.K. inflation against a backdrop of a weak economic growth outlook is keeping the U.K. gilt curve inverted, with 2-year yields higher than 10-year yields, as interest rates are expected to rise but only in the short term, says Mizuho rates strategist Peter McCallum. "Markets have priced in a poor economic growth outlook in the U.K.," he says. "In addition, investors expect the Bank of England to raise rates by 50 basis points in December and another 50 basis points in February to contain the rising inflation," he says. U.K. 2-year gilt yields trade at 3.283% while 10-year gilt yields are at 3.112%, according to Tradeweb. (

Primark's Click-And-Collect Could Boost Sales But Squeeze Margins

1112 GMT - Primark's click-and-collect trial service is expected to provide a meaningful sales boost to the Associated British Foods subsidiary if it is rolled out nationwide, RBC Capital Markets analyst Richard Chamberlain says in a note. The fast-fashion chain's service trial, which launched in mid-November, is likely to leverage its fixed cost base, increase its offer and support incremental sales in physical stores, the analyst says. However, the retailer's profit margin could be diluted as seen at precedent services for peers like H&M and Sports Direct, says the analyst. Primark is expected to struggle to maintain profitability due to its low basket size--the average number of items sold per single transaction--in combination with higher costs related to service and free returns, Chamberlain says. (


Contact: London NewsPlus;


(END) Dow Jones Newswires

November 28, 2022 12:04 ET (17:04 GMT)

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