UKX FTSE 100 Index

FTSE 100 Poised to Rise After Higher US Close

0735 GMT - The FTSE 100 looks set to open about 39 points higher at 7903, according to IG futures data, after an upbeat close on Wall Street, though Asia trades mixed. Australian and South Korean stocks rise, but Japan's Nikkei 225 and markets in mainland China and Hong Kong fall. The Dow closed Tuesday 0.8% higher after U.S. Federal Reserve chief Jerome Powell reiterated comments about disinflationary trends, but also insisted that the Fed still has some way to go to get inflation back to target. "This U.S. resilience looks set to translate into a positive European open later this morning," CMC Markets analyst Michael Hewson writes. (philip.waller@wsj.com)

 
Companies News: 

Barratt Developments 1H Pretax Profit Rose; Reservation Rate Improved in January

Barratt Developments PLC said Wednesday that it saw a rise in pretax profit for the first half of fiscal 2023 and said its private reservation rate has modestly improved in January.

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Smurfit Kappa 2022 Pretax Profit Rose, Boosted by Investment Program

Smurfit Kappa Group PLC said Wednesday that pretax profit rose in 2022, with performance reflecting the continuing benefits of the investment program.

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Severn Trent Backs FY 2023 View

Severn Trent PLC said Wednesday that there have been no material changes to the business performance or outlook since its half-year earnings in November and backed its fiscal 2023 outlook.

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Ashmore Group 1H Pretax Profit Halved; Sees Outperformance As Markets Recover

Ashmore Group PLC said Wednesday that pretax profit more than halved in the first half of fiscal 2023 as market volatility in the period led to losses on investments, and that emerging markets are set to outperform as markets recover.

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Grainger Early FY 2023 Rent, Occupancy Rose

Grainger PLC said Wednesday that rent and occupancy rose in the first four months of fiscal 2023.

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Tate & Lyle Updates Five-Year Targets for Revenue, Earnings Growth

Tate & Lyle PLC said Wednesday that it expects to deliver revenue growth of 4% to 6% a year in the five years to March 2028, underpinned by high single-digit growth in its food and beverage solutions division.

 
Market Talk: 

UK Firms Face Brexit, Covid Supply-Chain Chaos in 2023

1714 GMT - UK mid-sized businesses face a double whammy of supply-chain problems caused by the UK's EU exit and rising Chinese coronavirus cases, a survey shows. More than half, or 54%, of businesses cited supply-chain disruption as their biggest concern in the next six months, according to the study by business consultancy BDO. About a third, or 34%, highlighted delays caused by Brexit-related customs regulations, a similar number reported rising costs of EU-derived goods and 24% said they had stopped selling to the EU completely. Some 37% of businesses also cited delays from rising Covid-19 cases and lockdowns in China. "These businesses are the engine of the UK's economy and they shouldn't be overlooked," BDO partner Ed Dwan writes. (philip.waller@wsj.com)

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

(END) Dow Jones Newswires

February 08, 2023 03:02 ET (08:02 GMT)

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