UKX FTSE 100 Index

London Stocks Seen Opening Higher

The FTSE 100 index is expected to open 37.5 points higher according to IG, having closed Thursday at 7027.48, although analysts say equities continue to lack any clear direction. Stronger-than-forecast U.S. retail sales sparked some concern about possible earlier Federal Reserve tapering, though debates over President Joe Biden's fiscal spending package and over raising the debt ceiling may push tapering back to the end of the year, says Ipek Ozkardeskaya, analyst at Swissquote. Meanwhile, a correction in equities isn't happening because of the fear of "missing out a further rally," she says. U.K. data earlier showed retail sales unexpectedly fell 0.9% during August.

 
Companies News: 

UK Competition Watchdog to Consider Pennon's Acquisition of Bristol Water

The U.K. Competition and Markets Authority said Friday that it is looking at Pennon Group PLC's acquisition of Bristol Water.

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S4 Capital's Media.Monks Mergers with Zemoga

S4 Capital PLC, a U.K. digital-advertising and marketing-services company, said Friday that its new unitary brand Media.Monks is joining forcer with Zemoga via a merger.

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Foxtons Group Names Nigel Rich as Next Chairman

Foxtons Group PLC said Friday that it has appointed Nigel Rich as chairman with effect from Oct. 1, succeeding Ian Barlow.

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Aegon to Buy Back Shares Worth EUR96 Mln to Offset Paying Dividend in Shares

Aegon NV said Friday that it will repurchase common shares worth 96 million euros ($112.9 million) to neutralize the dilutive effect of its first-half dividend in shares.

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CEPS Raises GBP1.6 Mln in Discounted Share Placing

CEPS PLC said Friday that it raised 1.6 million pounds ($2.2 million) in a discounted share placing.

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Safestay Says Board Was Approached About Possible Offer

Safestay PLC said on Friday that the board has received a "very early stage and highly conditional approach" from a third party in relation to a possible offer for the company.

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Volvere 1H Pretax Loss Narrowed

Volvere PLC on Friday reported a significantly narrowed pretax loss for the first half of 2021, noting that its financial position continues to be strong, with high liquidity.

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Accsys Technologies Five-Month Performance Marked by Sales, Revenue Growth

Accsys Technologies PLC said Friday that its performance in the first five months of fiscal 2022 was strong, marked by growth in sales and revenue.

 
Market Talk: 

Near-Term Outlook for UK Retail Sales Looks Challenging

August's U.K. retail sales data bring more evidence that the recovery in consumer spending has lost considerable momentum in the third quarter, Pantheon Macroeconomics chief U.K. economist Samuel Tombs says. Retail sales volumes fell by 0.9% month-on-month in August but they were still 4.6% above their February 2020 level. So far, household spending appears to have been no stronger in September, Tombs says. "The near-term outlook for households' spending is overcast," the economist says. Households' real disposable incomes will decline in the fourth quarter as inflation soars to about 4%, labor income drops in the wake of the wind-down of the furlough program and a GBP20-a-week uplift to Universal Credit is withdrawn, he says.

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

September 17, 2021 03:11 ET (07:11 GMT)

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