FTSE 100 rises with BOE policy decision in sight

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FTSE 100 rises ahead of BOE policy decision

0756 GMT – The FTSE 100 rises 0.3% to 7091 points as traders await the latest policy decision from the Bank of England. The BOE announces its decision at 11:00 GMT and is expected to largely leave its policies unchanged, but investors will be looking for clues as to when to curb the stimulus. Deutsche Bank economists say they don’t expect “big changes” in meeting minutes and central bank policy statement, but “risks shift to a policy committee monetary policy more hawkish in the very short term, with economic data slightly better than the BOE expected in May. ” Meanwhile, Bunzl shares rose 2.5% after the UK distribution and outsourcing group said it expects first-half revenue growth and maintained its revenue forecast for the whole year. ([email protected])

 
Companies News: 

Sage commits to net zero emissions by 2040

Sage Group PLC on Thursday pledged to achieve net zero emissions by 2040 and halve its carbon emissions by 2030 as part of its new sustainability and societal strategy.

Rathbone Brothers raises £ 50million in discounted stock offering

Rathbone Brothers PLC said on Thursday it had raised 50 million pounds ($ 69.8 million) in a stock offering to finance the acquisition of Saunderson House Ltd.

Bunzl expects 1% increase in turnover 1 hour

Bunzl PLC said on Thursday it plans to report a 1% increase in revenue for the first half of 2021 at real exchange rates and a 6% to 7% gain at constant exchange rates, and backed its forecast of income for the year.

John Wood Group Expects 12% Drop in 1H Adjusted Profits

John Wood Group PLC on Thursday forecast a 21% drop in revenue and a 12% drop in underlying profits for the first half of 2021.

Next 15, current trading is ahead of management expectations

Next Fifteen Communications Group PLC said Thursday that trading in the first four months of the fiscal year continued ahead of management’s expectations.

Lone Star does not have an offer for seniors

US private equity investor Lone Star Global Acquisitions Ltd. said on Thursday he was not considering making a bid for UK engineering firm Senior PLC.

Big Yellow raises £ 100million as planned through stock placement

Big Yellow Group PLC said on Thursday it had raised gross proceeds of around 100 million pounds ($ 139.6 million) as planned through a discounted stock offering to expand its portfolio of acquisitions.

XPS Pensions FY2021 profit, revenue increase

XPS Pensions Group PLC on Thursday reported an increase in its pre-tax profit for fiscal 2021 and said its outlook was positive.

Groupe STM affirms that performance remains in line with expectations

STM Group PLC said on Thursday that it continues to operate according to management’s expectations.

Crest Nicholson Shifts to Pre-Tax Profit in H1 2021

Crest Nicholson Holdings PLC said on Thursday it had moved to pre-tax profit for the first half of fiscal 2021 and the board was confident the UK property market would remain robust beyond the deadline for September 30 stamp duty.

Tower Resources to raise GBP 50,000 through share subscription

Tower Resources PLC said Thursday it plans to raise 50,000 pounds ($ 69,810) via a share subscription with its chairman and CEO to increase its working capital while the company waits for funds from other sources, what is expected in the coming months.

Tandem Says 25-Week Revenue Performance is Positive

Tandem Group PLC said Thursday that its performance remained positive in the 25 weeks leading up to June 22, with revenues significantly higher than the previous year, and that the board is confident to deliver another strong year.

LXI REIT Raises £ 75 Million to Fund Investment Opportunities

LXI REIT PLC said on Thursday that it plans to raise 75 million pounds ($ 104.7 million) through a stock placement and will use the money for investment opportunities.

Allergy Therapeutics operating profit to exceed market views

Allergy Therapeutics PLC said Thursday that its operating profit for fiscal 2021 is expected to be well above market forecast, boosted by strong sales.

Westminster Group expects pre-tax profit and 2021 revenue to match views

Westminster Group PLC said on Thursday the board expects 2021 profit and pre-tax income to meet expectations as restrictions begin to ease, the company has recently been awarded contracts and has ‘a strong pipeline.

Round Hill Music Royalty To Raise At Least $ 50 Million To Fund Acquisitions

Round Hill Music Royalty Fund Ltd. announced Thursday that it plans to raise a minimum of $ 50 million through a C share offering and would invest the money in acquisitions.

Various restaurants Post Loss 1H; Post-containment recovery exceeds expectations

Various Eateries PLC reported a loss for the first half of the fiscal year on Thursday, but said they had exceeded management expectations since the pandemic restrictions were lifted.

Ariana Resources Says Kiziltepe Production Remains On Plan

Ariana Resources PLC said on Thursday that its Kiziltepe gold mine in Turkey continued to operate as planned.

Verditek finds stock shortage linked to factory theft

Shares of Verditek PLC fell on Thursday after the company said it suffered a theft at its Lainate, Milan plant, suffering a shortfall of around 300,000 pounds ($ 418,860).

Vitec Group shares rise as 2021 adjusted profit before tax exceeds market views

Shares of Vitec Group PLC rose on Thursday after the company said full-year adjusted pre-tax profit is expected to be significantly higher than current market expectations despite uncertainty over the effects of electronic component and material shortages raw.

Blackstone raises its St. Modwen property offer to £ 1.27 billion

St. Modwen Properties PLC announced Thursday that it has accepted a grossed-up and definitive cash offer of 1.27 billion pounds ($ 1.77 billion) from Blackstone Group Inc.

Cumulative Robinson earnings lower than 2020; Fall in shares

Robinson PLC shares fell on Thursday after the company said cumulative profits for the year were lower than the period a year earlier, and this was due to the short-term transient effect of the rising resin price.

First Property Group Suspends Final Dividend After Fiscal 2021 Loss, Share Decline

Shares of First Property Group PLC fell on Thursday morning after reporting a loss for fiscal 2021 and suspending the final dividend.

UK buyout panel agrees Augean extension

Augean PLC said on Thursday that the UK Takeover Panel had agreed to extend the deadline for Morgan Stanley Infrastructure Inc. to make an offer for the UK waste management company or to step down so they can continue talks.

 
Market Talk: 

Sterling could fall if BOE stays dovish

0707 GMT – The pound could weaken if the Bank of England refrains from signaling it may cut stimulus in a subsequent policy decision, Commerzbank said. “I don’t know if the BOE will send the signal that sterling bulls are hoping for,” said Thu Lan Nguyen, currency analyst at Commerzbank. It may be too early to curb support and the recent rise in inflation was not high enough, meaning there is “considerable potential for disappointment for the pound today”, says it. GBP / USD is stable at 1.3969 and EUR / GBP is up 0.1% to 0.8546. The BOE’s decision is at 11:00 GMT. ([email protected])

 

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(END) Dow Jones Newswires

June 24, 2021 04:14 ET (08:14 GMT)

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