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FTSE 100 Index FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  4.46 0.06% 7,476.63 7,498.04 7,431.44 7,472.17 0 16:35:30

FTSE 100 Seen Flat as Oil Prices Fall; Fed Minutes Digested

24/11/2022 8:30am

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From Nov 2022 to Dec 2022

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FTSE 100 Seen Opening Flat as Oil Prices Fall

0746 GMT - The FTSE 100 is seen opening little changed, according to IG, as oil prices fall and as investors digest the Federal Reserve's latest meeting minutes. Oil prices drop after news the Group of Seven nations were considering a high price cap on Russian oil, easing fears of a supply disruption. The Fed's meeting minutes, released Wednesday, showed most Fed officials support slowing the pace of interest rate rises soon. "That's nothing new, Fed Chair Jerome Powell has been very clear at his latest press conference that the Fed would deliver smaller rate hikes, but the terminal [peak] rate would be higher," Swissquote Bank analyst Ipek Ozkardeskaya writes. (renae.dyer@wsj.com)

 
Companies News: 

Kingfisher Cuts FY 2023 Profit Views Amid Higher Investments

Kingfisher PLC said Thursday that profit for fiscal 2023 is expected to be lower than previously guided as the company increased investments and expenses.

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Intertek Revenue Rose in 2H to Date; Sees 2022 Earnings Growth

Intertek Group PLC said Thursday that it is on track to deliver its full-year targets after booking 8.5% revenue growth at constant currency in the period from July to the end of October.

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Dr. Martens 1H Pretax Profit Fell on Higher Costs; Boosts Dividend

Dr. Martens PLC said Thursday that pretax profit for the first half of fiscal 2023 fell amid higher costs, but increased its dividend payout to reflect its confidence in the future of the business.

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Hornby 1H Loss Widened But Flags Strong Order Book

Hornby PLC said Thursday that its first-half loss widened, as it refrained from giving a full-year outlook ahead of the busy Christmas period.

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TClarke Sees 2022 Revenue Below Expectations Despite Strong 2H to Date

TClarke PLC said Thursday that trading for the second half of the year to date has been strong, but revenue for the year will be less than previously planned, with 40 million pounds ($48.2 million) of that expected to be booked next year.

 
Market Talk: 

Rio Tinto Investor Day Seen Focused on Projects

0213 GMT - Rio Tinto is expected to update the market on its suite of iron-ore projects--including Bedded Hill Top, Hope Downs 2 and Brockman Syncline 1--at its 2022 investor day planned for Nov. 30, Macquarie analysts say in a note. "We believe any projects that contribute to Pilbara iron ore's incremental growth over the medium term would present a positive catalyst for the stock," they say. The analysts are also keen to hear more on the miner's copper and lithium organic expansion plans, including any potential for greater-than-expected growth at its U.S. Kennecott operations. "The Rincon lithium project is still at an early stage, however, additional information on permitting, technology and operational capability could improve market's confidence and increase development optionality," they add. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

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

(END) Dow Jones Newswires

November 24, 2022 03:15 ET (08:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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