UK Will Need Foreign Investors to Absorb Gilt Supply in 2023

0837 GMT - Excess gilt supply in 2023 due to increased issuance from the U.K.'s Debt Management Office and the Bank of England's gilt-sale plans will likely need to be absorbed by foreign investors, says UBS macro rates strategist Rohan Khanna in a note. "With the BOE actively selling its APF portfolio and the reaction function of the LDI community unclear in the wake of the recent crisis, it would fall to the non-resident investors to mop-up any increased issuance in gilts," Khanna says. (miriam.mukuru@wsj.com)

 
Companies News: 

AstraZeneca to Buy Neogene Therapeutics for $320 Mln

AstraZeneca PLC said Tuesday that it is buying biotechnology company Neogene Therapeutics Inc. for up to $320 million.

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easyJet FY 2022 Pretax Loss Narrowed, Revenue Rose on Pandemic Recovery

easyJet PLC said Tuesday that its fiscal 2022 pretax loss narrowed and revenue rose as passenger numbers and revenue per seat recovered following the easing of Covid-19-related restrictions.

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Shaftesbury Swung to FY 2022 Pretax Profit on Revaluation Gains and as Income Rose

Shaftesbury PLC said Tuesday that it swung to a pretax profit for fiscal 2022, primarily on gains from the revaluation of investment properties, while net property income rose 28%.

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Amigo Holdings Swung to 1H Loss, Revenue Fell as Legacy Loan Book Unwinds

Amigo Holdings PLC said Tuesday that it swung to a pretax loss for the first half of fiscal 2023 as revenue dropped, and said meetings with potential investors in relation to a capital raise are under way.

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Wise PLC 1H Pretax Profit Boosted by Interest Rates, Higher Revenue

Wise PLC on Tuesday reported a large rise in pretax profit for the first half of fiscal 2023 as it benefited from higher interest rates on customer accounts, and backed its full-year guidance.

 
Market Talk: 

Crude Oil Rises as China Covid-19 Policy Speculation Mounts

0831 GMT - Crude oil prices are rising in early trade as speculation around China and its Covid-19 policies mount. Brent crude is up 1.8% to $85.39 a barrel while WTI is 1.7% higher at $78.51 a barrel. Speculation over whether China will rollback on Covid-19 regulations is rising amid protests in the country. That said, oil markets are likely to be driven by the OPEC+ meeting on Sunday, according to Dave Whitcomb, head of research at Peak Trading Research. "OPEC+ wants higher prices and a crude oil rally would be a bullish macro tailwind for the whole commodity complex," he says. Further volatility could come from EU discussions over the Russian oil price cap, he says. (yusuf.khan@wsj.com)

 

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

(END) Dow Jones Newswires

November 29, 2022 03:55 ET (08:55 GMT)

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