FTSE 100 Poised to Rise After Upbeat Asia, US Trading
0633 GMT - The FTSE 100 index looks set to open 47 points higher at 6955, according to IG futures data, after upbeat trading in Asia and on Wall Street. Markets in Australia, Japan and South Korea gain and the Dow closed Monday 2.7% ahead. Brent crude rises 0.5% to $89.35 a barrel. "Three Fed speakers, Williams, Mesters and Daly, are on the wires ahead of a batch of U.S. job-market data this week," Danske Bank Chief Analyst Jakob Ekholdt Christensen says in a note. "We continue to expect two more 75 basis-point hikes in the November and December meetings, which would end the hiking cycle at 4.50-4.75% by year-end." (firstname.lastname@example.org)
Legal & General Backs 2022 Operating Profit; Capital Generation Despite Volatility
Legal & General Group PLC said Tuesday that it continues to benefit from positive momentum in the second half, despite the increased market volatility, and backed its guidance for the full-year operating profit and capital generation.
Greggs 3Q Sales Rose, Backs Full-Year Outlook
Greggs PLC said Tuesday that sales for the third quarter of the year rose 15% compared with the same period of 2021, and backed its expectations for the full-year.
Gilt Pickup Over Treasurys for FX-Hedged US Investors Looks Attractive on Three-Month Horizon
0627 GMT - Following the recent sell-off, 10-year U.K. gilts offer a 96-basis-point pickup over U.S. Treasurys for U.S. investors when FX-hedged for three months, Citi's rates strategists say. This is the largest pickup in at least seven years, they say, adding that it is the best return for U.S. investors within major developed markets except for eurozone government bonds. The yield pickup in the 30-year maturity segment is around 70bps, still relatively attractive, Citi's strategists say. However, for investors over a one-year horizon, the FX-hedging cost associated with gilts becomes highly punitive for dollar-denominated investors, they add. (email@example.com)
UK GDP Expected to Contract Next Year
1546 ET - S&P Global Ratings said in its latest forecast that U.K. GDP is expected to contract by 0.5% next year. S&P Global Ratings Senior Economist Boris Glass says "As inflation rises further over the winter, consumer spending is set to contract, leading the broader U.K. economy into a moderate technical recession." The U.K.'s GDP is expected to grow by 1.4% in 2024 and 1.6% in 2025, according to S&P. "Growth in the latter years will, albeit to a limited extent, benefit from the recently announced medium and longer-term fiscal policies aimed at boosting the U.K. economy's growth potential," Glass says. (firstname.lastname@example.org)
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(END) Dow Jones Newswires
October 04, 2022 02:54 ET (06:54 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.