FTSE 100 to Rise After Upbeat Asia Trading

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FTSE 100 Set to Rise After Upbeat Asia Trading

0642 GMT – The FTSE 100 is expected to open 19 points higher at 7043, according to CMC Markets, after upbeat trading in Asia, though Wall Street closed lower. Stocks in mainland China are in positive territory and markets in Japan and Hong Kong are both more than 1% ahead. The Dow ended Thursday 0.4% adrift. July U.K. GDP is expected to slow to 0.5%, down from 1% in June with the rolling three-month average also set to decline from 4.8% to 3.8%, CMC says, due to labor and supply disruption caused by the pandemic and the U.K.’s EU exit. “As we look to today’s European open, a positive Asia session appears to be alleviating some of the downside pressure,” CMC’s Michael Hewson says. (philip.waller@wsj.com)

 
Companies News: 

Cineworld Reaches Deal With Dissenting Regal Shareholders

Cineworld Group PLC said Friday it has reached an agreement with the dissenting shareholders of Regal Entertainment Group, which was acquired by Cineworld in 2018.

Tritax EuroBox to Raise GBP170 Mln to Fund Acquisition of Logistics Assets

Tritax EuroBox PLC said Friday that it is raising 170 million pounds ($235.2 million) via share issue to acquire logistics assets in continental Europe.

Newmark Security Swung to a FY 2021 Pretax Loss

Newmark Security PLC reported Friday a swing to a pretax loss for fiscal 2021 due to the effects of Covid-19, but said that the company is set up for growth and is expecting to show a rise in revenue in the coming year.

Minds + Machines to Return $80 Mln in Premium-Priced Tender Offer for Shares

Minds + Machines Group Ltd. said Friday that it would return up to 58 million pounds ($80.2 million) to shareholders via a premium-priced tender offer for shares.

 
Market Talk: 

Macquarie Turns More Bullish on Crude-Oil Prices

2340 GMT – Macquarie lifts its price forecasts for Brent crude–the global benchmark–by 18% to $72.00/bbl in 4Q and by 9% to $62.75/bbl in 2022. That brings the bank’s forecasts closer to the forward curve, and is grounded in expectations that oil demand will continue to recover. Macquarie expects demand will pick up to just below 102 million bbl/day in 2022, fuelled by the return of leisure air travel, petrochemical demand and the return of gasoline and diesel consumption close to pre-pandemic levels globally. (david.winning@wsj.com; @dwinningWSJ)

 

Contact: London NewsPlus, paul.larkins@wsj.com

(END) Dow Jones Newswires

September 10, 2021 03:03 ET (07:03 GMT)

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