London stocks are up with Fed in focus
London equities open slightly to the upside; Focus on the Fed
0651 GMT – The FTSE 100 is expected to open 11 more points, according to IG, after closing Tuesday at 7172.48. Trade will likely be cautious ahead of a US Federal Reserve move after European markets close, with investors generally expecting policymakers to view the rise in inflation as temporary and continue to provide strong stimulus. “The Fed is generally expected to keep its ultra-support policy unchanged at this month’s meeting,” said Ipek Ozkardeskaya, analyst at Swissquote. Any hint of plans to cut or reduce QE would hurt risk sentiment and push stocks down. It “probably won’t happen today” but it is a risk, she said. Oil prices continue to recover, which could cause oil inventories to rise, although Ozkardeskaya notes that this is also reminiscent of rising inflation. ([email protected])
Best of the Best declares a special dividend for a promising 2021 financial year
Best of the Best PLC on Wednesday announced a sharp increase in profit and pre-tax income for fiscal 2021 and said it was declaring a special dividend for the year.
Tullow Oil says production through May was on line
Tullow Oil PLC said Wednesday that its production at the end of May was in line with expectations.
Hipgnosis Songs Fund to raise £ 150million
Hipgnosis Songs Fund Ltd. on Wednesday announced plans to raise 150 million pounds ($ 211.3 million) through a stock offering to fund the acquisition of a song pipeline.
Electra Private Equity to launch Hostmore PLC as parent company resulting from the spin-off of TGI Fridays
Electra Private Equity PLC announced on Wednesday that Hostmore PLC will become the new parent company of its hotel brands: the American themed restaurant chain TGI Fridays and 63rd + 1st, a start-up of cocktail bars and restaurants.
Helios Towers raises $ 160 million through equity and convertible bond issue
Helios Towers PLC said on Wednesday it would raise around $ 160 million, more than initially stated, through a stock issue and convertible bond offering to fund acquisitions.
FireAngel Security Technology Sees 1H Performance In Line With Views
FireAngel Safety Technology Group PLC said on Wednesday it expects its performance for the first half of the year to be in line with board expectations, but challenges related to the pandemic are expected to continue throughout the current year.
Allianz Insurance, Claimant in Lawsuit of N. Brown, Applies to Increase Scope of Claim
N. Brown Group PLC said Wednesday that Allianz Insurance PLC has requested an increase in the scope of a claim against its subsidiary, estimated to be an additional 36 million pounds ($ 50.7 million).
Christie Group negotiates according to expectations with demand on all services
Christie Group PLC said on Wednesday the company has performed well since the start of the year and is trading in line with market expectations, with all of its services and sectors in demand.
Dillistone Group Expects Reduced Loss in 2021; CFO retires
Dillistone Group PLC said on Wednesday it expects a significantly reduced pre-tax loss in 2021 compared to 2020, although incomes are lower, and CFO Julie Pomeroy will retire later this year.
Motorpoint pledges to double revenues above £ 2bn in the medium term
Motorpoint Group PLC on Wednesday set targets to double its revenue in the medium term and announced that its profit had almost halved in fiscal 2021.
Reopening of price hikes helps surprise UK inflation
0646 GMT – Price hikes resulting from the reopening of service companies were one of the main drivers of the further acceleration of headline inflation in the UK in May, said Samuel Tombs, UK chief economist at Pantheon Macroeconomics. UK consumer prices rose 2.1% year-on-year in May from 1.5% in April, beating expectations. Looking ahead, Pantheon expects UK inflation to peak at around 2.8% by the end of 2021, before returning to the 2% target by mid-2022, then slightly lower. below target over the next 12 months. The headline inflation rate should not exceed the 3% rate, according to Tombs, because the service components that will rebound have lower weights than usual, due to their low share of household spending in 2020. [email protected] com)
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(END) Dow Jones Newswires
June 16, 2021 03:08 ET (07:08 GMT)
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