FTSE 100 set to rise despite trade slowdown in Asia

0634 GMT – The FTSE 100 index is expected to rise about 23 points to 7034, according to IG data, despite overnight trading in Asia and a lower close on Wall Street on Monday. Hong Kong and Japan stocks fell 0.1% and 2.1% respectively, and the Dow Jones closed down 0.9%. “The final services PMIs for September will be released in a range of European and Scandinavian countries as well as the US ISM services index,” Danske Bank said. “Markets will also keep an eye on any remarks from the President of the European Central Bank [Christine] Lagarde. “(Philip.waller@wsj.com)

Companies News: 

Tesco set to announce deal with shareholders over 2014 accounting scandal – Sky News

Tesco is set to announce a deal with shareholders over allegations referring to an accounting scandal in 2014, Sky News reports.

Melrose Industries revenue in Q3 increased 16%

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

ScS Reports Fiscal 2021 Profits and Sees Fiscal 2022 Performance to Meet Expectations

ScS Group PLC announced a profit for the year on Tuesday, and said that the performance for the current period remained in line with internal expectations.

Hotel Chocolat posted to pre-tax profit for 2021

Hotel Chocolat Group PLC said on Tuesday that it moved to pre-tax profit for fiscal 2021 as revenue increased, and that it was not declaring a dividend due to investment opportunities for future growth.

Greggs comparable sales in Q3 up 3.5% from Q3 2019; Expects to beat previous predictions

Greggs PLC said Tuesday that like-for-like sales for the third quarter of the year were up 3.5% from the same period in 2019, despite disruptions in people and supply chains, and that she expects to exceed previous expectations for the year.

Gooch & Housego Declare Profit Beat Management View for Fiscal Year 2021

Gooch & Housego PLC said on Tuesday that profit for fiscal 2021 was slightly above management’s expectations and entered fiscal 2022 with a strong backlog.

Great Portland Estates signed new annual rent of £ 14.3million in the third quarter

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

Market Talk: 

BT faces threat of potential fiber deal between Sky and 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 UK mobile network O2 – and Sky, according to Bank of America Global Research. The UK telecommunications provider could see its returns questioned given recently announced plans by VMO2 to convert UK cable infrastructure to fiber, which could lead BT to lose wholesale shares in this migration, according to BofA. “However, we note that BT has a considerable amount of time to gain a business advantage with its current 5 million homes and accelerated deployment,” the US bank said. BofA maintains a price target of 204 pence on the BT stock. The shares closed 4.7% lower at 151.45 pence. (joseph.hoppe@wsj.com)


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

(END) Dow Jones Newswires

05 October 2021 02:59 ET (06:59 GMT)

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