FTSE 100 Poised to Open Flat After Mixed Asia Trading

0636 GMT - The FTSE 100 looks set to open largely unchanged at 7477, according to IG futures data, after mixed trading in Asia and a slightly higher close on Wall Street. Markets in Australia and South Korea gain, but stocks in mainland China trade flat and shares in Hong Kong and Japan fall. The Dow advanced 0.1% Monday. "The main focus this week is very much on Wednesday's U.S. CPI report in the wake of Friday's bumper payroll report, which saw U.S. 10-year yields push up to their highest levels in two weeks," CMC Markets analyst Michael Hewson says in a note. (philip.waller@wsj.com)

 
Companies News: 

Abrdn Swung to 1H Pretax Loss; Warns That Revenue Growth Targets Unlikely to be Reached

Abrdn PLC reported on Tuesday a swing to a pretax loss for the first half of 2022 and said its ambitions for revenue growth and improved cost-to-income ratio will now likely take longer than expected to realize.

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IWG 1H Loss Narrowed as Hybrid Working Spurs Revenue

IWG PLC on Tuesday reported a narrowed loss for the first half of the year, with strong revenue and Ebitda growth in the period.

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Legal & General 1H Operating Profit Rose, Raises Dividend

Legal & General Group PLC reported on Tuesday a rise in operating profit for the first half of 2022, driven by higher interest rates and a strong portfolio performance, and said that it has raised its dividend payout.

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Avast 1H Pretax Profit Fell on Higher Costs, Revenue Slip

Avast PLC said Tuesday that its first-half pretax profit fell on higher costs and a slip in revenue, though average revenue per customer rose 2.2%.

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RPS Group Agrees to GBP591.1 Mln Takeover By Canada's WSP Global

RPS Group PLC said Tuesday that it has agreed to a 591.1 million pound ($713.9 million) takeover by Canadian peer WSP Global Inc.

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Sound Energy Seeks Partner to Fund Remaining $60 Mln for Gas Project in Morocco

Sound Energy PLC said Tuesday that it is seeking a co-investing partner for its Tendrara gas project onshore Morocco.

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InterContinental Hotels to Launch $500 Mln Buyback; 1H Net Profit Boosted by Travel Demand

InterContinental Hotels Group PLC said Tuesday that it will launch a share-buyback program of up to $500 million as it reported a rise in net profit for the first half on increased revenue.

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Bellway FY 2022 Housing Revenue Rose 13% on Higher Completions, Prices

Bellway PLC said Tuesday that its housing revenue rose to record levels in fiscal 2022 on higher volumes and sales prices, and reported a strong forward sales position.

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SIG PLC Swung to 1H Pretax Profit; Sees Positive 2022 Earnings

SIG PLC reported on Tuesday a swing to a pretax profit for the first half of 2022 and said that it expects to return to a positive free cash flow in the second half and to close the year with a positive set of earnings.

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Just Group 1H Pretax Loss Widened, Resumes Dividend

Just Group PLC on Tuesday reported a first-half widened pretax loss, but said it is confident about achieving its medium-term underlying operating profit growth target and resumed its dividend payout.

 
Market Talk: 

Investors Ask if Miners Should Spend More on Buybacks, M&A, and Less on Dividends

0332 GMT - Debate about whether miners should be using their cash on dividends, buybacks or to grow via acquisition is running hot this earnings season, Citi analysts say in a note. While the majority of miners' free cash flow is likely to be used on normal and special dividends at a time when most share prices are still elevated, "investors are starting to question whether buyback or acquisitions could be a better use of cash," the analysts say. The Citi analysts reckon that miners need to focus on growing value and volume per share instead of on an absolute basis, and say the way the likes of Rio Tinto have been able to do this in recent years has been via share buybacks. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

August 09, 2022 03:05 ET (07:05 GMT)

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