Gains for Miners Lift FTSE 100
22 Oktober 2021 - 10:41AM
Dow Jones News
FTSE 100 Rises as Miners Gain; IHG Falls
0807 GMT - The FTSE 100 Index rises 0.3%, or 23 points to 7213
as gains for miners offset losses for InterContinental Hotels Group
and house-builders. Antofagasta, Rio Tinto, BHP and Fresnillo gain
after reports in Asia that Evergrande would be paying the $83
million interest due on its U.S. dollar bond. Still, IHG drops 2%
after reporting third-quarter revenue per available room 21% below
2019 levels. Barratt Developments, Taylor Wimpey and Persimmon are
also among the biggest fallers and London Stock Exchange backtracks
3.8% after saying it didn't expect fourth-quarter income to rise as
fast as in the third quarter. (philip.waller@wsj.com)
Companies News:
InterContinental Hotels 3Q Revenue Per Available Room 21% Below
Pre-Pandemic Levels
InterContinental Hotels Group PLC said Friday that its revenue
per available room increased 66% in the third quarter on year, but
that it was 21% below 2019 levels.
---
J Sainsbury Ends Talks to Sell Banking Arm
J Sainsbury PLC said Friday that it has ended talks to sell its
banking arm as it believes the business will deliver better value
for shareholders being kept within the group.
---
London Stock Exchange 3Q Total Income Rose
London Stock Exchange Group PLC said Friday that its performance
in the third quarter of 2021 was marked by income growth across all
its divisions.
---
JD Sports Acquires 80% Stake in Greek Retailer Cosmos Sport
JD Sports Fashion PLC said Friday that it has acquired 80% of
Cosmos Sport SA, a Greek retailer.
---
Hummingbird Resources Sees 2021 Production at Lower End of
Guidance Range, Costs at Higher End
Hummingbird Resources PLC said Friday that its full-year
production will be at the lower end of the guidance range, whereas
costs will be at the upper end.
---
Starcom PLC Raises GBP450,000 via Premium Share Subscription
Starcom PLC said Friday that it has raised 450,000 pounds
($620,730) via a premium share subscription and will use the money
towards its new business pipeline as well as for potential new
contracts.
---
SIG Sees FY Underlying Operating Profit Ahead of Views on 3Q
Sales Growth
SIG PLC said Friday that its full-year underlying operating
profit is now expected to be ahead of market views, as the strong
performance it benefited from in July and August continued through
September.
Market Talk:
Spending Normalization, Inflation Seen Hitting UK Retail
Demand
0810 GMT - Retail sales volumes in the U.K. fell again in
September, partly due to the growing near-term risks for the
country's economy such as the global inflation surge or the petrol
panic and gas price rises, but also because consumers are
normalizing spending patterns, Berenberg says. With Covid-19
restrictions lifted, people are shifting consumption away from
goods, particularly household goods, toward consumer services,
Berenberg's senior economist Kallum Pickering says. "The strong
nominal spend and rising real consumption of clothing and footwear
points to still-solid underlying demand," he says. Berenberg
remains positive about U.K. growth prospects over the medium and
longer term, but the data for the next few months are likely to
surprise to the downside. (xavier.fontdegloria@wsj.com)
UK High Street Retailers Hurt by Fuel Shortages
0702 GMT - The boost to retail sales from panic-buying of motor
fuel in September was far smaller than the damage from people only
making essential journeys away from home, Pantheon Macroeconomics
says. "September's data mark the fifth consecutive month-to-month
decline in retail sales, the longest unbroken run of falling sales
since the data begin in 1988," Pantheon's chief U.K. economist
Samuel Tombs says. Retail sales will rebound in October, as
consumers purchase Christmas presents earlier than usual due to
concerns about product availability, he forecasts. However, real
household disposable income looks set to drop by 1.5%
quarter-on-quarter in the fourth quarter, as labor income declines
with the end of the furlough program, Universal Credit payments are
reduced and inflation rises further, Tombs says.
(maria.martinez@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 22, 2021 04:26 ET (08:26 GMT)
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