FTSE 100 to Open Lower as Pound Rises

0643 GMT - The FTSE 100 is expected to open lower as the pound strengthens after the U.K. government said it will lift most of England's remaining coronavirus restrictions from July 19. Spreadbetting firm IG expects London's blue-chip index to fall 23 points at the start of trading. A stronger pound tends to weigh on FTSE 100's large chunk of overseas revenue earners. Meanwhile, trading volumes could pick up as the U.S. financial market reopens after being closed Monday for the Fourth of July holiday. In economic data, the U.K. construction purchasing managers index survey will publish at 0830 GMT. On the company front, supermarket chain J Sainsbury reported a rise in 1Q comparable sales and online grocer Ocado posted a narrowed 1H pretax loss. (renae.dyer@wsj.com)


 
Companies News: 

Bridgepoint to Raise GBP300 Mln in London IPO

Bridgepoint Group PLC on Tuesday confirmed that it intends to undertake an initial public offering in London and raise around 300 million pounds ($415.4 million).

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Ocado's 1H Pretax Loss Narrowed Materially

Ocado Group PLC reported Tuesday a significantly narrowed pretax loss for the first half of fiscal 2021 and said that it is keeping its full-year forecasts unchanged.

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J Sainsbury 1Q Comparable Retail Sales Increased; Raises Guidance

J Sainsbury PLC said Tuesday that comparable retail sales for the first quarter of fiscal 2022 increased, and raised its guidance for the full year.

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Assura Acquired 12 Properties for GBP53 Mln in 1Q

Assura PLC on Tuesday reported 12 property additions for the first quarter for a total cost of 53 million pounds ($73.4 million).

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Sutton Harbour Seeks GBP3.5 Mln Equity Issue; Posts FY 2021 Loss

Sutton Harbour Group PLC said Tuesday that it intends to raise 3.5 million pounds ($4.8 million) via share issue, and reported a loss for the fiscal year.

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Purplebricks Swung to FY 2021 Pretax Profit

Purplebricks Group PLC said Tuesday that it swung to a pretax profit for fiscal 2021 on the back of higher revenue, and said it expects adjusted earnings for this year to be flat, in line with market forecasts.

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Dalata Hotel Expects 1H Adjusted Ebitda to Be Close to Break-Even

Dalata Hotel Group PLC said Tuesday that it expects first-half adjusted earnings before interest, taxes, depreciation and amortization to be close to break-even as it mitigates the effect of reduced trading levels due to the pandemic.


 
Market Talk: 

BHP's Shareholder Returns Could Top $37B in 2021-2023

0322 GMT - BHP may spend more than $37 billion on shareholder returns during 2021-2023, Morgan Stanley says, based on its base-case commodity price forecasts. If today's high prices for commodities such as iron ore and copper persist, that figure would be materially higher, MS says. At spot prices, it estimates BHP's shareholder returns would total $48 billion during 2021-2023. BHP spent $36 billion on shareholder returns in 2016-2020. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

07-06-21 0302ET