FTSE 100 Seen Higher; Sterling Falls After 9% CPI Print

FTSE 100 Seen Opening Higher After Wall Street Gains

0638 GMT - The FTSE 100 is seen opening slightly higher following a positive session on Wall Street overnight. Spreadbetting firm IG expects the London index of blue-chip stocks to start up 7 points. U.S. stocks closed Tuesday higher, helped by a decent April U.S. retail sales report, which showed that consumers remained resilient despite rising prices, CMC Markets analyst Michael Hewson says in a note. Meanwhile in the U.K., data on Wednesday showed inflation accelerated to an annual rate of 9.0% in April from 7.0% in March, compared to the 9.1% forecast by economists in a Wall Street Journal survey. ([e-mail])

 
Companies News: 

Burberry Reports FY 2022 Profit Rise Despite China Lockdowns Hit in 4Q

Burberry Group PLC on Wednesday reported an improved profit for the year ended April 2, although coronavirus restrictions in China severely affected the business in the fourth quarter.

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Experian FY 2022 Pretax Profit Rose; Raises Dividend

Experian PLC on Wednesday reported a rise in pretax profit in fiscal 2022 driven by strength in organic revenue across North and South America, the U.K. and Ireland, and raised its dividend payout.

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British Land Swung to FY 2022 Pretax Profit on Covid-19 Recovery

British Land Co. said Wednesday that it swung to a pretax profit in fiscal 2022 as coronavirus pandemic-related hits to its property value were reversed.

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Anglo American's De Beers Diamond Sales Rose in Fourth Cycle

Anglo American PLC on Wednesday reported an increase in diamond sales from its De Beers subsidiary for the fourth sales cycle of 2022.

 
Market Talk: 

Sterling Falls After UK Inflation Data

0629 GMT - Sterling falls after data showed U.K. inflation accelerated further in April, adding pressure on already strained household incomes. Inflation rose to an annual rate of 9.0% in April from 7.0% in March. Economists polled by the WSJ expected inflation to reach 9.1%. "Inflation in the U.K. is completely out of control, and there is no doubt that soaring inflation is having a negative influence on disposable incomes," AvaTrade analyst Naeem Aslam says in a note. The Bank of England is under pressure to do more to control inflation but it is walking a fine line and can only do so much, he says. GBP/USD falls to 1.2471 after the data from 1.2491 beforehand. EUR/GBP rises to 0.8448 from 0.8437. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

05-18-22 0256ET