London Shares to Edge Higher on U.S. Rebound
London Stocks Seen Opening Slightly Higher
0648 GMT - The FTSE 100 is expected to open 12.5 points higher,
according to IG, having closed Wednesday at 7016.49, with equities
continuing to struggle for direction. Gains for U.S. stocks late
Wednesday may help sentiment, although this will likely be offset
by drops in Chinese stocks overnight due to regulatory concerns.
Attention will be centered on U.S. retail sales data at 1230 GMT
Thursday, with investors focused on when the U.S. Federal Reserve
is likely to announce plans to scale back asset purchases. Retail
sales are expected to be weak, which "would hardly dampen the mood"
on equity markets and could enable a rebound, Swissquote analyst
Ipek Ozkardeskaya says, as it should tame any lingering concerns
about imminent Fed tapering. (email@example.com)
Ryanair Raises Five-Year Passenger Growth Forecast to 50%
Ryanair Holdings PLC on Thursday raised its five-year growth
forecast to 225 million passengers by March 2026.
Philip Morris Offer for Vectura Becomes Unconditional After
Securing 75% Support
Philip Morris International Inc. said Thursday that its offer
for Vectura Group PLC has become unconditional in all respects,
after it secured support representing 74.77% of the U.K.
inhaled-medicines company's share capital.
Ashtead Group 1Q Pretax Profit Rose; Raises Guidance
Ashtead Group PLC said Thursday that pretax profit rose as
revenue increased for the first quarter of fiscal 2022, and that
the board expects results for the full year to be ahead of its
IG Group 1Q Revenue Rose 6% Driven by Tastytrade Acquisition
IG Group Holdings PLC said Thursday that its revenue grew in the
first quarter of the fiscal year, driven by the acquisition of
online brokerage Tastytrade.
Games Workshop Declares 25p Dividend; Sees Performance In
Games Workshop Group PLC on Thursday declared a dividend of 25
pence (35 cents) a share and said performance in the three months
to Aug. 29 was in line with expectations.
Galliford Try Holdings Swung to FY 2021 Pretax Profit
Galliford Try Holdings PLC on Thursday reported a swing to a
pretax profit for fiscal 2021 and said that it is well placed to
THG's 1H Pretax Loss Widened
THG PLC reported on Thursday a significantly widened pretax loss
for the first half of 2021 and said that the intended separation of
its key trading divisions remains ahead of schedule.
BHP's Potash Project Contentious But Compelling
2245 GMT--BHP's Jansen potash project is one of its most
contentious growth options, given the huge amount of cash BHP is
having to pour up front into a project that will have low returns
and long payback in a market that won't be attractive for some
time, says Goldman Sachs. That aside, Jansen is "one of the assets
with the greatest ability to grow value and earnings for BHP over
the long term given the significant resource optionality and low
cost position," GS says. The bank says BHP's Wednesday investor
briefing on the project demonstrated Jansen can achieve appealing
economies of scale versus key competitors in Canada's Saskatchewan
province. (firstname.lastname@example.org; @RhiannonHoyle)
BHP Taking a Leaf From Fortescue in Potash Foray?
2318 GMT -- Shaw reckons BHP may be taking a leaf from iron-ore
rival Fortescue's book in the way BHP is seeking to become a
globally important potash producer from scratch. "Feels a little,
actually a lot, like FMG shoehorning itself into the middle of the
iron ore supply triopoly in the late 2000s," says Shaw. The broker
reckons BHP will be similarly successful in doing so, aided by its
new and "best-in-breed" infrastructure. Shaw is upbeat broadly on
BHP's potash foray. "The pivot into another 'future facing
commodity' (adds to copper/nickel) with a very long tail (100
years), with growth options (stages 1-4) and with a commodity price
that is off the cycle low = happy days," Shaw says in a note.
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
(END) Dow Jones Newswires
September 16, 2021 03:18 ET (07:18 GMT)
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