FTSE 100 to Rebound Despite U.S., Asia Losses

10/05/2021 | 12:59am

FTSE 100 Poised to Rise Despite Downbeat Asia Trading

0634 GMT - The FTSE 100 Index looks set to rise about 23 points to 7034, according to IG data, despite downbeat overnight trading in Asia and a lower close on Wall Street Monday. Stocks in Hong Kong and Japan fall 0.1% and 2.1% respectively and the Dow closed 0.9% lower. "Final service PMIs for September will be released across a range of European and Scandinavian countries as well as the U.S. ISM services index," Danske Bank says. "Markets will also keep an eye on any remarks from European Central Bank President [Christine] Lagarde." (philip.waller@wsj.com)

Companies News: 

Tesco Likely to Announce Agreement With Shareholders Over 2014 Accounting Scandal -Sky News

Tesco is close to announcing an agreement with shareholders over claims referring back to an accounting scandal in 2014, Sky News reports.


Melrose Industries 3Q Revenue Rose 16%

Melrose Industries PLC said Tuesday that revenue for the three months to Sept. 30 was 16% higher than the same period a year earlier, and that its automotive and its powder metallurgy businesses are on track to achieve their margin targets once supply constraints are resolved.


ScS Posts FY 2021 Profit, Sees FY 2022 Performance in Line With Expectations

ScS Group PLC on Tuesday reported a profit for the fiscal year, and said performance in the current period remains in line with internal expectations.


Hotel Chocolat Swung to FY 2021 Pretax Profit

Hotel Chocolat Group PLC said Tuesday that it swung to a pretax profit for fiscal 2021 as revenue rose, and that it isn't declaring a dividend due to the investment opportunities for further growth.


Greggs 3Q Comparable Sales Up 3.5% Vs 3Q 2019; Expects to Beat Previous Forecasts

Greggs PLC said Tuesday that like-for-like sales for the third quarter of the year are up 3.5% compared with the same period in 2019, despite disruption to staffing and supply chains, and that it expects to beat previous expectations for the year.


Gooch & Housego Says FY 2021 Profit Beat Management's Views

Gooch & Housego PLC said Tuesday that profit for fiscal 2021 was slightly ahead of management's expectations, and that it has entered fiscal 2022 with a robust order book.


Great Portland Estates Signed GBP14.3M of New Annual Rent in 3Q

Great Portland Estates PLC said Tuesday that it signed 14.3 million pounds ($19.5 million) of new annual rent in the third quarter.

Market Talk: 

BT Faces Threat From Potential Fiber Deal Between Sky, VMO2

1702 GMT - BT could be threatened by a potential new deal between VMO2--the product of the recent merger between Virgin Media and Telefonica's U.K. mobile network O2--and Sky, Bank of America Global Research says. The British telecommunications provider could see its returns challenged given VMO2's recently announced plans to convert U.K. cable infrastructure to fiber--which could lead to BT losing wholesale share in that migration, BofA says. "However, we note that BT has significant time to market advantage with its current 5 million homes passed and accelerating rollout," the U.S. bank says. BofA maintains a 204 pence price target on BT stock. Shares closed down 4.7% at 151.45 pence. (joseph.hoppe@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

10-05-21 0259ET

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