FTSE 100 to Open Higher as Traders Eye Omicron News

FTSE 100 to Open Higher as Traders Eye Omicron News

0738 GMT - The FTSE 100 is expected to open higher as traders continue to watch developments surrounding the Omicron coronavirus variant. Spreadbetting firm IG expects the London index of blue-chip stocks to start trading up 61 points after closing down 6 points Friday. "While still early days, the evidence continues to support the notion that while Omicron is more transmissible it doesn't appear to be more deadly, with no deaths currently reported because of the virus," CMC Markets analyst Michael Hewson says. "Nonetheless markets appear to be becoming increasingly twitchy, whether it be over Omicron, or the ability of Europe to deal with its current problem with Delta." ([e-mail])

 
Companies News: 

WPP Buys Branding and Design Agency Made Thought

WPP PLC said Monday that it has acquired branding and design agency Made Thought.

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Ted Baker Chairman John Barton Dies

Ted Baker PLC said Monday that its chairman, John Barton, has died.

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London Stock Exchange Group to Acquire Quantile for up to GBP274 Mln

London Stock Exchange Group PLC said Monday that it will buy Quantile Group Ltd., a portfolio, margin and capital optimization and compression services provider, for up to 274 million pounds ($362.7 million).

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Smiths News Increases FY 2021 Dividend

Smiths News PLC said Monday that it has revised up the dividend for fiscal 2021, and has received an 8.1 million pound ($10.7 million) pension surplus.

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ContourGlobal Raises 2021 Ebitda Guidance

ContourGlobal PLC said Monday that it has upgraded its 2021 guidance given the strong performance of its Arrubal gas-fired power plant in Spain.

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Marshall Motor Recommends Constellation's GBP325 Mln Takeover to Shareholders

Marshall Motor Holdings PLC on Monday recommended that shareholders accept the 325 million pound ($430.2 million) takeover by Constellation Automotive Holdings Ltd. announced on Nov. 29.

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Amigo Holdings Says Customer Committee Prefers New-Business Scheme; Proposes GBP97 Mln Return for Creditors

Amigo Holdings PLC said Monday that its independent customer committee, or ICC, has confirmed a preference for its "new business" scheme of arrangement, and proposed initial cash contributions to its creditors of 97 million pounds ($128.4 million).

 
Market Talk: 

For Mining Stocks, Time to Look Past Commodity Prices

2300 GMT - It's easy to see why some investors are downbeat on mining stocks, which tend to perform best when commodity prices are rising, says Janus Henderson's natural resources head Daniel Sullivan, noting the sharp fall in iron-ore prices in recent months. Nonetheless, "we are now moving to a part of the cycle where free cash flow improves" and "the positive tight-supply, strong-demand story for commodities is most likely to roll on into 2022 and prove supportive of energy and metals markets," Sullivan says. He highlights how miners continue to hold back on big projects and deals, which should support investor returns--and stock prices--as free cash flow from the mining sector builds, he says. Sullivan also reckons the longer run outlook is "incredibly exciting" given the role that natural resources companies have to play in a shift to a low carbon economy. ([e-mail]; @RhiannonHoyle)

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Oil Benchmarks Rise, Tracking Saudi Aramco OSPs

0400 GMT - Oil rises, taking cues from the higher official selling prices set by Saudi Aramco. "The move suggests that the Saudis have confidence in the demand outlook, and the market appears to be taking comfort in that," ING says, noting that.the state-owned oil exporter raised its OSPs for all grades of crude into Asia for January, with its flagship Arab Light grade $0.60/bbl higher on month to $3.30/bbl above the Dubai-Oman benchmark.Front-month Brent is 2.0% higher at $71.29/bbl and front-month WTI rises 2.2% to $67.73/bbl. ([e-mail])

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; [e-mail]

(END) Dow Jones Newswires

12-06-21 0255ET