Sterling Rises, But Selling Could Resume in 2022

12/23/2021 | 06:56am

Sterling Rises, But Selling Could Resume in 2022

1047 GMT - Sterling rebounds strongly, recovering from recent losses to reach a one-month high against the dollar as traders close positions ahead of the year-end holiday period, but selling is likely to resume in the new year, says Marshall Gittler, analyst at BDSwiss. "Next year everyone can come back to work and return to their favorite hobby of shorting GBP," he says. U.K. economic data released Wednesday were poor with quarter-on-quarter gross domestic product growth revised down, he says. Private consumption was revised up, but government spending and investment were revised to show falls rather than rises, while exports were revised down, Gittler adds. GBP/USD rises 0.3% to 1.3424, while EUR/GBP falls to a four-week low of 0.8437. (

Companies News: 

Ryanair Widens FY 2022 Net Loss Guidance, Cuts December Traffic Forecasts

Ryanair Holdings PLC said Wednesday that it has widened its expected net loss for fiscal 2022 and cut its December passenger forecasts, due to the Omicron coronavirus variant and government restrictions weakening bookings.


Flutter Entertainment to Buy Sisal for GBP1.62 Bln

Flutter Entertainment PLC said Thursday that it has acquired the Italian online gaming operator Sisal from CVC Capital Partners Fund VI for 1.62 billion pounds ($2.16 billion).


Balfour Beatty's US Subsidiary to Pay $65.4 Mln in Resolution With Justice Department

Balfour Beatty PLC said Thursday that its subsidiary Balfour Beatty Communities has reached a resolution with the U.S. Department of Justice on charges of improperly claiming performance incentive fees between 2013 and 2019.


Yourgene Health Awarded Covid-19 Contract by U.K. Government

Yourgene Health PLC said Thursday that Yourgene Genomic Services has been awarded a contract for the provision of laboratory capacity to support Covid-19 testing in the U.K.


Uniphar Acquires E4H, Devonshire Healthcare Services and Navi Group

Uniphar PLC said Thursday that it has acquired E4H, Devonshire Healthcare Services and Navi Group without disclosing further financial details about the deals.


Jadestone Energy CFO Dan Young to Step Down

Jadestone Energy PLC said Thursday that Chief Financial Officer Dan Young has decided to leave the company.


Fletcher King Swung to Pretax Profit in 1H

Fletcher King PLC said Thursday that it swung to a pretax profit in the first half of fiscal 2022 as the market returned to a more stable condition, but said that the Omicron variant brings another period of uncertainty.


ADM Energy Urges Shareholders to Support CEO, COO, Chairman at AGM

ADM Energy PLC said Thursday its board is unanimously recommending that its shareholders vote against the resolutions to remove from the board its chief executive, chief operating officer and nonexecutive chairman at its coming general meeting.


Amedeo Air Four Plus 1H Pretax Loss Narrowed

Amedeo Air Four Plus Ltd. said Thursday that its pretax loss narrowed for the first half of fiscal 2022 after booking lower costs, and reiterated that it will start regular quarterly dividends in January.


Duke Royalty Says 3Q Cash Revenue Is GBP3.9 Mln; Expects Growing Revenue in 4Q

Duke Royalty Ltd. said Thursday that its cash revenue for the third quarter of fiscal 2022, ending Dec. 31, will total 3.9 million pounds ($5.2 million), and that it expects a further increase in quarterly cash revenue in the fourth quarter.


CT Automotive Group To Start Trading on London's AIM

CT Automotive Group PLC said Thursday that its shares have been admitted to trade on the AIM market of the London Stock Exchange.


NewRiver REIT Sells Poole Retail Park for GBP58 Mln

NewRiver REIT PLC said Thursday that it has disposed of the Poole Retail Park in Dorset, England, for 58.0 million pounds ($77.4 million).


Carbon Air Group Stock Market Debut on London's AIM Delayed to January

Carbon Air Group PLC said Thursday that it now expects to float on the AIM in late January, with further details to be confirmed.

Market Talk: 

Flutter's Acquisition of Sisal Shows It Can Compete and Win Across the Online Gaming Market

1126 GMT - Flutter Entertainment's acquisition of Sisal shows that the Ireland-based betting company is "one of only a handful of operators that can credibly look to compete and win" across the global online market, Davy Research says. Flutter said Thursday that it bought the Italian online gaming group for GBP1.62 billion, and that Sisal is expected to generate an Ebitda of GBP211 million in 2021. The deal will position Flutter as the number one online gaming operator in the region as it creates revenue synergies and a significant runway for growth, the Irish research firm says. Shares are up 2.2% 11,535 pence. (

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires;

(END) Dow Jones Newswires

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