FTSE 100 to Open Lower; Traders React to Public Finances Data

FTSE 100 to Open Lower as Traders React to UK Public Finances Data

0643 GMT - The FTSE 100 is seen opening lower as investors digest U.K. public sector borrowing data ahead of Treasury Chief Rishi Sunak's fiscal spending plan on October 27. Spreadbetter IG expects the London index to start down 29 points. Public sector borrowing, excluding banks, was GBP21.8 billion in September, the second highest September level on record, official data showed. "With little sign that the pandemic is anywhere close to an end point, the Chancellor [Sunak] next week will be hoping to try and find a way to help underpin the government tax receipts at the same time as not acting hastily and tipping the economy into a self-inflicted slowdown," CMC Markets analyst Michael Hewson says. ([e-mail])

 
Companies News: 

Barclays 3Q Pretax Profit, Total Income Rose Ahead of Market Views

Barclays PLC reported on Thursday rises in third-quarter pretax profit and total income ahead of market views.

---

Unilever 3Q Underlying Sales Rose, Backs Margin Guidance Despite Cost Inflation

Unilever PLC said Thursday that third-quarter underlying sales rose on good growth in its priority markets of the U.S., China and India, development of online shopping channels and growth of portfolio brands.

---

St. James's Place 3Q Net Inflows, Funds Under Management Rose

St. James's Place PLC said Thursday that funds under management and net inflows increased significantly in the third quarter of 2021.

---

Rentokil Initial 3Q Revenue Rose 0.5%, Backs 2021 Guidance

Rentokil Initial PLC on Thursday reported a 0.5% rise in third quarter revenue at actual exchange rates and backed its full-year guidance.

---

Anglo American Platinum Reports Flat 3Q Production; Reaffirms 2021 Guidance

Anglo American Platinum Ltd. on Thursday reported broadly flat production for the third quarter and reiterated full-year guidance.

---

Babcock International 1H Revenue Seen to Rise; FY Outlook Unchanged

Babcock International Group PLC said Thursday that performance for the first half of fiscal 2022 was in line with its expectations and it backed its guidance for the full year.

---

Gateley (Holdings) Shareholders Sell GBP11.4 Mln Worth of Shares

Gateley (Holdings) PLC said Thursday that 11.4 million pounds ($15.8 million) worth of shares have been sold on behalf of certain directors and employees, as first announced late Wednesday.

 
Market Talk: 

Unilever's 3Q Sales Just Beat Market Views, Helped by Pricing

0646 GMT - Unilever's third quarter results were adequate, with organic sales growth 0.3% ahead of a company-compiled market consensus--though volumes were a little light, compensated by higher pricing, RBC Capital Markets says. The multisector retailer has, crucially, maintained guidance for the full-year the Canadian bank says. Market consensus was for Unilever's full-year EBIT margin to decline by 20 basis points, compared with new guidance of it likely being flat, so there may even be room for slight margin upgrades, RBC says. RBC retains its underperform rating and price target of 3,400 pence, adding it fundamentally believes Unilever is at risk of under-delivering as a result of under-investing. ([e-mail])

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

(END) Dow Jones Newswires

10-21-21 0303ET