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London Shares to Open Higher After Retail Sales Data Beat Forecasts

07/23/2021 | 03:03am

FTSE 100 to Open Higher After UK Retail Sales Data Beat Forecasts

The FTSE 100 is expected to open higher after data showed U.K. retail sales rose by more than expected in June. Spreadbetter IG sees the index rising 34 points. U.K. retail sales grew 9.7% year-on-year in June, according to official data, versus the 9.0% increase forecast by economists in a WSJ survey. U.K. manufacturing and services purchasing managers' index surveys for July will be released at 0830 GMT. "Today's numbers for July are expected to show fairly decent readings once again, however given recent trends, we do have to start treating these PMI numbers with slightly more caution given that they also exclude some important parts of the economy that are continuing to struggle," Michael Hewson at CMC Markets says.

 
Companies News: 

Brewin Dolphin 3Q Net Flows Rose

Brewin Dolphin Holdings PLC on Friday reported that its discretionary net flows grew 6.1% in the third quarter of its fiscal year, to around 700 million pounds ($963.8 million).

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Vodafone 1Q Revenue Grew; Sees FY 2022 on Track

Vodafone Group PLC said Friday that first-quarter revenue rose as growth in its closely-watched organic revenue accelerated, and that it is on track to meet its guidance for fiscal 2022.

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Premier Foods 1Q Sales Fell YoY But Remained Above 2019 Comparatives

Premier Foods PLC said Friday that sales in the first quarter of fiscal 2022 fell on year but remained above 2019 comparatives.

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NatWest to Receive Minority Stake in Permanent TSB in Exchange for Irish Assets

NatWest Group PLC said Friday that it has agreed a non-binding memorandum of understanding with Permanent TSB Group Holdings PLC, as part of its phased withdrawal from Ireland.

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Beazley Swung to 1H Profit as Revenue Jumped

Beazley PLC on Friday reported a swing to pretax profit in the first half of the year on higher revenue, and said it is considering paying a dividend next year.

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Record PLC 1Q 2022 Assets Under Management Equivalents Rise

Record PLC said on Friday that its assets under management equivalents rose 5% during the first quarter of fiscal 2022, and that they had been enhanced by further net inflows and the launch of the new Emerging Market Sustainable Finance fund.

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Town Centre Securities Collects Most of Rent Due to Date

Town Centre Securities PLC said Friday that it has collected 89% of the rent due since March 2020.

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Ultra Electronics Gets GBP2.58 Bln Takeover Proposal from Advent's Cobham

Ultra Electronics Holdings PLC said Friday that it has received a 2.58 billion pound ($3.55 billion) takeover proposal from Cobham Ltd. which it is minded to recommend to shareholders.

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Ted Baker to Move to Cheaper Headquarters Next Year

Ted Baker PLC said Friday that it has chosen to move its new global headquarters to the London neighborhood of Fitzrovia, which will allow the company to make good savings on rent.

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Secure Trust Bank Sells Mortgage Loan Portfolio for GBP54.6 Mln

Secure Trust Bank PLC said Friday that it has agreed to sell a portfolio of mortgage loans to Jacqali Designated Activity Co., a financing vehicle.

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Alliance Trust Swung to 1H Pretax Profit; Plans to Review Dividend

Alliance Trust PLC said Friday that it swung to a pretax profit for the first half of 2021 as the value of its assets rose, and said it is launching a review of the level and funding of its dividend payments.

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

(END) Dow Jones Newswires

07-23-21 0302ET

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