FTSE 100 Ends Thursday Marginally Down as Central Bank Meeting Nerves Creep In
December 07 2023 - 12:22PM
Dow Jones News
The FTSE 100 closed Thursday down 0.02%, in sync with a small
bout of weakness in other European stocks. The edge down amongst
European indices likely reflects some nervousness ahead of ahead of
next week's central bank meetings, IG Group chief market analyst
Chris Beauchamp says in a market comment. It will be a tall order
to avoid a post-Fed, Bank of England and European Central Bank
hangover descending on the market just as investors turn their
thoughts toward Christmas, Beauchamp says.
COMPANIES NEWS:
Frasers Group Backs Guidance After Strong UK Sports,
International Performance
Frasers Group has reported a 8% rise in pretax profit for the
first half of fiscal 2024 with good growth in U.K. Sports and
International and backed its full-year guidance.
---
DS Smith's Pretax Profit Fell on Lower Volumes, Prices; CEO to
Retire
DS Smith said its pretax profit fell in the first six months of
fiscal 2024 on lower volumes and prices, and that its Chief
Executive Miles Roberts will retire.
---
AJ Bell Pretax Profit Rose on Higher Interest Rates
AJ Bell said its pretax profit rose in fiscal 2023, with revenue
boosted by higher interest rates.
---
Watches of Switzerland Performance Boosted by US; UK, Europe
Remain Challenging
Watches of Switzerland Group reported a fall in pretax profit
for the first half of fiscal 2024 after booking higher finance
costs and an impairment of assets in its accounts, and backed its
full-year guidance.
---
Balfour Beatty Sees Higher Revenue on UK HS2 Railway, Hong Kong
Airport Project
Balfour Beatty expects to report higher revenue for the year,
boosted by higher HS2 railway volumes in the U.K. and increased
airport project activity in Hong Kong.
---
Smart Metering Systems Agrees to $1.6 Bln KKR Takeover
Smart Metering Systems has agreed to a 1.3 billion-pound ($1.63
billion) takeover by Sienna Bidco, a new company owned by funds
advised by private-equity firm KKR.
---
Future PLC Pretax Profit Fell on Lagging US Revenue; CFO to
Retire
Future PLC said its pretax profit for fiscal 2023 fell and that
its chief financial and strategy officer will step down later next
year.
---
Vertu Motors Shares Fall on Profit Warning
Vertu Motors shares fell 20% in early trade after the company
said that it will miss fiscal 2024 market forecasts, citing a
number of negative external factors.
---
Games Workshop Expects Profit, Revenue to Rise
Games Workshop Group said it expects a rise in pretax profit and
core revenue for the first half of fiscal 2024.
---
Kin & Carta Shares Rise on Improved GBP220.3 Mln Private
Equity Takeover Pact
Kin & Carta shares rose 9.9% after the company said that it
has agreed to an improved and final 220.3 million pound ($276.7
million) takeover by Kelvin UK Bidco, a new company indirectly
owned by Apax Partners funds.
---
Mondi to Pay Special Dividend Following Sale of Russian Unit
Mondi said it will distribute a special dividend to shareholders
with the proceeds from the disposal of its Russian business.
MARKET TALK:
European Stocks Drop After Asia Losses; US Set to Open Lower
1237 GMT - European stocks mostly fall after downbeat Asia
trading and ahead of an expected lower U.S. open. The Stoxx Europe
600 and DAX drop 0.2%, the CAC 40 edges 0.1% lower and the FTSE 100
trades flat. Oil shares trade mixed as Brent crude rises 0.8% to
$74.88 a barrel. Australian stocks closed broadly flat, markets in
mainland China, Hong Kong and South Korea fell and Japan's Nikkei
dropped 1.8%. IG futures data show the Dow opening at 36004, versus
Wednesday's lower close of 36054. "Poor Chinese trade data hit
sentiment in the Asia-Pacific region as weakness in imports flagged
fresh concerns about the Chinese economy," IG analysts write. "U.S.
weekly unemployment claims are the main event Thursday."
(philip.waller@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
December 07, 2023 12:07 ET (17:07 GMT)
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