Down Debt

The active sale of BOE debt to test demand for gilts

The active sale of BOE gilts to test the demand for gilts

0942 GMT – The Bank of England’s planned sale today of £750m of short- and medium-maturity gilts will test demand for gilts and could put upward pressure on yields, says MUFG Bank Currency Analyst Lee Hardman in a note. “The BOE is hoping gilt sales can run in the background without disrupting markets, although they are another form of monetary tightening alongside rate hikes,” he said. The BOE will not sell gilts with maturities over 20 years “which would prove more disruptive for pension funds”, explains the analyst. Yields on UK 10-year gilts are trading at 3.470%, down nearly 6 basis points on the day and broadly tracking movements in eurozone bonds. ([email protected])

 
Companies News: 

Playtech CFO resigns for personal reasons; Appointed successor

Playtech PLC said on Tuesday that chief financial officer Andrew Smith had decided to step down for personal reasons and that Chris McGinnis had been named to succeed him.

BP Q3 profit slipped on quarter but beat views; Declares $2.5 billion buyout

BP PLC reported a quarterly decline in third-quarter replacement cost underlying earnings on Tuesday, but beat expectations by a wide margin and declared another quarterly share buyback.

Initial sales of Rentokil’s 3Q disinfection services plummeted; Turnover up

Rentokil Initial PLC said on Tuesday that third-quarter disinfection services sales fell, in line with board expectations, and revenue rose 19% at actual exchange rates.

Aston Martin Lagonda Global appoints two non-executive directors of Saudi Arabia’s public investment fund

Aston Martin Lagonda Global Holdings PLC announced on Tuesday that Ahmed Al-Subaey and Frederick Robertson have been appointed to the board as representative non-executive directors of the Saudi Arabian Public Investment Fund, effective November 1.

Fulham Shore 1H Performance online despite market challenges

Fulham Shore PLC said on Tuesday its first-half performance was in line with management’s expectations despite the difficult political and macroeconomic environment.

Q3 TP ICAP revenue increased as global brokerage benefited from market conditions

TP ICAP Group PLC said on Tuesday that its revenue increased in the third quarter as it benefited from favorable market conditions in Global Broking, its most profitable business, and that its performance was in line with the board’s expectations. .

Westminster Group sees revenue drop in 2022 and lose before tax due to project delay

Westminster Group PLC said on Tuesday it expected to report lower revenue for the year and a pre-tax loss, trailing a multi-million pound technology project in the Middle region -East and North Africa.

IWG Reported Strong Revenue Growth in Q3; Expects 2022 Ebitda at lower end of views

IWG PLC said on Tuesday it reported strong revenue growth, improved margins and underlying cash generation in the third quarter, and expects annual earnings before interest, tax, depreciation and amortization to be in the the lower end of the range of market views.

Made.com shares are suspended as the company expects to be liquidated

Made.com Group PLC said on Tuesday that its shares had been suspended and that it expects its listing to be delisted and the company to be liquidated.

 
Market Talk: 

Delivery stocks rise as Ocado strikes deal with Lotte in South Korea

10:05 GMT – Shares of German food delivery firms Delivery Hero and Hello Fresh rose on Tuesday after their British counterpart Ocado struck a partnership deal with South Korean retail giant Lotte. Ocado tops Europe’s Stoxx 600 index winners, up more than 30% after striking a deal that will see the development of six fulfillment centers in the East Asian country by 2028 and application of its technology in Lotte’s stores. Following the news, the Delivery Hero share rose 11% to 36.06 euros, while Hello Fresh gained 8.4% to 21.96 euros. Shares of its British counterpart Just Eat Takeaway in London rose 106.56 pence, or 7.1%, to 1,602.23 pence. ([email protected]; @joshualeokirby)

Weather forecasts considered essential for the British pound and European currencies

1003 GMT – Weather forecasts could play an increasingly important role for European currencies, including the pound, amid the energy crisis, according to ING. It appears the pound extended its losses on Monday after Britain’s weather bureau warned that this winter could be colder than usual, ING analyst Francesco Pesole said in a note. “If indeed mild temperatures have helped ease energy prices of late, weather news could become increasingly relevant drivers for markets, which clearly remain alert to the risks of energy shortages. and/or blows to certain economies,” he said. “European currencies including the pound are obviously the most affected.” GBP/USD is up 0.4% at 1.1518 and EUR/GBP is stable at 0.8613. ([email protected])

Rentokil Initial drops as disinfection sales drop

09:47 GMT – Shares of Rentokil Initial topped the FTSE 100 fallers, down 4% after the hygiene and pest control group reported lower sales of disinfection services in the third quarter. Disinfection services sales fell in line with company expectations to £3.6m, down £8.6m from the same period a year ago, Rentokil said. “As expected, Rentokil’s disinfection services are underperforming in the post-pandemic period, given the tough comparisons to the Covid era when there was a surge in demand for hygiene-related products,” writes Victoria Scholar, Chief Investment Officer of Interactive Investor. “Pest management in North America also struggled due to difficult year-over-year comparisons.” ([email protected])

 

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

November 01, 2022 06:21 ET (10:21 GMT)

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