UK Will Need Foreign Investors to Absorb Gilt Supply in 2023
29 November 2022 - 10:10AM
Dow Jones News
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.
---
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.
---
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%.
---
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.
---
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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