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U.S. Losses, Weak China Data to Hamper London Stocks

London Stocks Seen Opening Slightly Lower

0649 GMT - The FTSE 100 is expected to open 7 points lower, according to IG, having closed Tuesday at 7034.06. Losses for U.S. stocks the previous day and weaker data out of China, including retail sales and industrial production, are likely to dampen sentiment. "The global economy is decelerating somewhat faster than was expected from China to the U.S. and potentially in Europe on a back of a well-known series of shocks," says Sebastien Galy, an analyst at Nordea Investment. Concerns about elevated inflation remain, with figures showing a slight softening in U.S. inflation Tuesday failing to do much to improve risk appetite, while U.K. figures earlier showed annual CPI inflation at 3.2%, higher than the 2.9% forecast in a WSJ poll. Individual stocks in focus include Tullow Oil, which announced a swing to 1H profit. (jessica.fleetham@wsj.com)

 
Companies News: 

Tullow Oil CFO Les Wood to Step Down

Tullow Oil PLC said Wednesday that Chief Financial Officer Les Wood has agreed with the board to step down.

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Tullow Oil Swung to 1H Net Profit; Narrows 2021 Production Guidance Upward

Tullow Oil PLC on Wednesday reported a profit for the first half of the year and narrowed 2021 production guidance toward the upper end of the range.

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Fevertree Drinks' 1H Pretax Profit Grew

Fevertree Drinks PLC on Wednesday reported a rise in pretax profit for the first half of 2021, which was marked by growth across all of its key markets.

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Trustpilot 1H Pretax Loss Widened

Trustpilot AS said on Wednesday that its first-half pretax loss widened after booking higher costs, and raised its guidance for the year.

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Darktrace Books Widened FY 2021 Loss, Raises FY 2022 Guidance

Darktrace PLC on Wednesday reported a widened loss for fiscal 2021, reflecting non-cash costs, and raised guidance for the current period.

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Restaurant Group 1H Pretax Loss Narrowed Significantly

Restaurant Group PLC reported on Wednesday a significantly narrowed pretax loss for the first 27 weeks of 2021 amid cuts to costs.

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Redrow Pretax Profit Rose in FY 2021

Redrow PLC said Wednesday that pretax profit rose for fiscal 2021 as revenue increased, and that performance in the new fiscal year has been encouraging.

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Pendragon Swung to 1H Profit, Supported by Strong Car Market

Pendragon PLC said Wednesday that it swung to a profit for the first half of the year, reflecting tailwinds in the car market.

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Ricardo Swung to FY 2021 Pretax Profit

Ricardo PLC said on Wednesday that it swung to a pretax profit for fiscal 2021 after booking lower costs, and that it entered fiscal 2022 with a robust order book and pipeline.

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Epwin Group Swung to 1H Pretax Profit

Epwin Group PLC said Wednesday that it swung to a pretax profit for the first half as revenue increased, and that it expects strong demand from customers serving the renovation, maintenance and improvement market--which represents around 70% of historic group revenue--to continue in the foreseeable future.

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Bridgepoint 1H Profit Rose in Maiden Listed Results, Deployment at Normal Levels

Bridgepoint Group PLC said Wednesday that its profit and revenue rose strongly in the first half of 2021, with capital deployment returning to normal levels despite the lingering effects of the Covid-19 pandemic.

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Central Asia Metals Raises Dividend as Commodity Prices Boost 1H Profit

Central Asia Metals PLC on Wednesday reported an improved profit for the first half and raised its interim dividend.

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Character Group Sees FY 2021 Underlying Pretax Up to 10% Below Market Views

Character Group PLC said Wednesday that its full-year performance has been hit by shipping issues, noting that underlying pretax profit is now expected to be no more than 10% below market expectations.

 
Market Talk: 

Global Commodity Markets Entering a New Super Cycle

0423 GMT - Global commodity prices look to be embarking on a new super cycle, says Shane Oliver, chief economist at AMP Capital. After bottoming in last year's global lockdown, metal prices and wider commodity indexes that include energy have surged to around the last mining boom highs of around 2011. The key drivers are a surge in demand for goods, onshoring requiring new capital investment to avert a rerun of pandemic supply chain disruptions, the demand for clean energy and vehicles, all compounded by global underinvestment in new commodity supply, he says. A battery electric vehicle contains four to 10 times as much copper as a conventional car. (james.glynn@wsj.com ; @JamesGlynnWSJ)

 

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

September 15, 2021 03:12 ET (07:12 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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