London stocks are poised for a cautious start; Focus on retail sales

London stocks saw their opening little changed

0652 GMT – The FTSE 100 is set to open 10 points higher, according to IG, after closing at 7270.51 on Thursday. Markets remain cautious after the European Central Bank unexpectedly raised interest rates by 50 basis points on Thursday, although there was relief that Russia had resumed shipping natural gas to the Europe via the Nord Stream gas pipeline. The focus on Friday will be on surveys of purchasing managers in the UK and the euro zone, while previous data showed UK retail sales fell 0.1% per month. in June, a smaller decline than expected. Earnings season has “provided a welcome distraction from growth and inflation fears”, although attention will soon turn to the U.S. Federal Reserve’s interest rate decision next week, analysts said. ‘IG in a note. ([email protected])

Companies News: 

UK regulator clears Warner Bros. deal Discovery/BT Group

The UK Competition and Markets Authority said on Friday it had decided not to dismiss BT Group PLC’s sports joint venture with Warner Bros. Discovery to a phase 2 investigation.

Five-month sales of JD Sports Fashion before the previous year

JD Sports Fashion PLC said on Friday that total sales for the first five months of fiscal 2023 remained 5% ahead of the previous year and that it expects to end the current fiscal year with another record performance in terms of pre-tax profits.

Mirriad Advertising sees revenues stagnate in 2022 due to weak China

Mirriad Advertising PLC said on Friday it now expects 2022 revenue to be flat year on year at around 2 million pounds ($2.4 million), with market conditions in China being significantly weaker than expected.

[email protected] Capital to raise up to GBP 320,855 in open offering

[email protected] Capital PLC on Friday announced plans to raise up to 320,855 pounds ($385,154) through an open offering as part of its capital improvement plan.

Homeserve 1Q Performance Consistent with Board Views; CVC strategy continues

Homeserve PLC said on Friday that its performance in the first quarter of fiscal 2023 was in line with board expectations and that it continued to execute its strategy to buy and build heating, ventilation and air conditioning, or HVAC. .

Beazley’s first-half pre-tax profit fell sharply due to investment performance

Beazley PLC said on Friday that pre-tax profit for the first half of 2022 fell sharply due to a complicated investment environment and gross written premiums rose.

JTC posts net organic revenue growth for 1H, in line with forecasts

JTC PLC said Friday that its performance in the first half of 2022 was marked by net organic revenue growth and that it met all of its guidance metrics for the period.

Stanley Gibbons CEO to step down in September; New CEO appointed

Stanley Gibbons Group PLC said Friday that CEO Graham Shircore will step down on September 12, with Tom Pickford set to take over.

Record PLC 1Q assets under management hit by financial market uncertainty

Record PLC said Friday that assets under management fell in the first quarter as investment valuations suffered from uncertain financial markets and despite recording net inflows for the period.

BT Group – Warner Bros. Discovery JV authorized by UK regulator — Update

The UK Competition and Markets Authority said on Friday it had decided not to dismiss BT Group PLC’s sports joint venture with Warner Bros. Discovery to a phase 2 investigation.

FRP Advisory FY 2022 Pre-tax profit slipped on higher expenses; Turnover up

FRP Advisory Group PLC said on Friday that its pre-tax profit for the 2022 financial year slipped due to higher expenses, although revenues rose and the outlook was positive.

Market Talk: 

Dunelm seems fairly valued given consumer pressure

1:02 p.m. ET — Dunelm Group shares are trading at the right level given the risk of near-term pressure as buyers cut spending, RBC Capital Markets said following the update on the year from the British homewares retailer. While positive factors such as a leading market position and good prices should give the company some protection, there are signs that consumers are spending less on home-related products, a trend likely to persist. in the short term, according to RBC. Dunelm’s share valuation looks fair for a totally UK-focused retailer when UK consumers are under significant financial pressure and the homewares sector looks likely to face a period of below-trend growth, say RBC analysts in a note, retaining their sector performance recommendation. ([email protected])


Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

July 22, 2022 03:12 ET (07:12 GMT)

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Sallie R. Loera