Pound Vulnerable, Likely to Fall Back Toward Record Low
Pound is Vulnerable, Likely to Fall Back Toward Record Low
0750 GMT - The Bank of England's intervention to stabilize gilt
markets on Wednesday will have only a limited positive impact on
sterling, which looks vulnerable to a drop back toward Monday's
record low of $1.0349, says ING currency analyst Chris Turner. "We
doubt cable [GBP/USD] holds gains to 1.08/1.09 and the bias has got
to be for a 1.0350/1.0500 retest," he says in a note. "There is
only so much the BoE can do to support cable, since we think FX
intervention and emergency rate hikes are not on the table."
GBP/USD falls 1% to 1.0781 in early trade on Thursday.
Vodafone Chief Technology Officer to Step Down; Successor
Vodafone Group PLC said Thursday that Chief Technology Officer
Johan Wibergh will retire at the end of 2022 after serving in the
role since 2015, and that Scott Petty will take over from Jan.
M&G Names Andrea Rossi as Chief Executive, Replacing John
M&G PLC said Thursday that it has appointed Andrea Rossi as
its new chief executive from Oct. 10, replacing John Foley who is
retiring after seven years in the role.
Avation Swung to FY 2022 Pretax Profit as Business Returns to
Avation PLC said Thursday that it swung to pretax profit for
fiscal 2022 as the pandemic comes to an end and a high level of
utilization for the aircraft fleet returns.
Attraqt Group Agrees to GBP63.2 Mln Takeover by Crownpeak
Attraqt Group PLC said Thursday that it has agreed to a 63.2
million pound ($68.8 million) cash offer by Aegean Bidco Ltd, a
subsidiary of Crownpeak Holdings, LLC.
Mitchells & Butlers FY 2023 Comparative Sales Rose; Seeing
Mitchells & Butlers PLC said Thursday that like-for-like
sales in fiscal 2022 rose slightly compared to prepandemic levels,
but total sales fell, and it was experiencing inflationary
HSS Hire 1H Pretax Profit Fell on Higher Costs, Reinstates
HSS Hire Group PLC said on Thursday that pretax profit for the
first half of fiscal 2022 slightly fell amid higher costs which
offset a revenue increase, and reinstated a dividend payout.
Great Portland Estates Sees Strong 1H Leasing Activity
Great Portland Estates PLC said Thursday that it has seen strong
leasing activity in its first half, and reiterated its confidence
in its outlook.
Next Cuts FY 2023 Profit, Sales Guidance Amid Waning Consumer
Confidence -- Update
Next PLC on Thursday reported a better-than-expected pretax
profit increase for the first half of fiscal 2023, amid stronger
retail sales, and cut its full-year profit guidance amid rising
Next 1H Retail Sales, Profit Look Better Than Expected
0714 GMT - Next reported a better-than-expected 1H profit, with
a surprising increase in retail division, analysts at RBC Capital
Markets Richard Chamberlain and Manjari Dhar say in a research
note. The fashion retailer posted a pretax profit of GBP400.6
million, ahead of RBC's forecast of GBP392 million. Retail
division's sales were at GBP881 million, beating the analysts'
forecast of GBP809 million, while trading profit came in at GBP101
million compared with an expected GBP69 million, they note. RBC has
an outperform rating on the stock and a price target of 6,800
Contact: London NewsPlus; Dow Jones Newswires;
(END) Dow Jones Newswires
September 29, 2022 04:10 ET (08:10 GMT)
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