FTSE 100 to Edge Higher; UK GDP in Focus

FTSE 100 Poised to Edge Higher After Mixed Asia Trading

0635 GMT - The FTSE 100 looks set to open 13 points higher at 7478, according to IG futures data, after mixed trading in Asia and a slightly higher close on Wall Street. Stocks in Australia and mainland China drop, though markets in Hong Kong, Japan and South Korea rise. The Dow closed Thursday 0.1% ahead. Brent crude falls 0.3% to $99.30 a barrel. "Friday's European open looks set to be a weak one as we look ahead to the latest U.K. 2Q GDP numbers, which aren't expected to be full of much good cheer," CMC Markets analyst Michael Hewson says in a note. ([e-mail])

 
Companies News: 

888 Holdings 1H Pretax Profit Fell Materially

888 Holdings PLC reported on Friday a significant decline in pretax profit for the first half of 2022 on lower contribution, increased legal and professional costs linked to the acquisition of William Hill, and expenses related to the disposal of the Bingo business.

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TBC Bank's 2Q Pretax Profit Fell on Higher Costs; Outlook Unchanged

TBC Bank Group PLC reported Friday a decline in pretax profit for the second quarter of 2022 on the back of higher operating expenses, and reiterated its medium-term targets for the whole year.

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Stelrad Group 1H Pretax Profit Fell on Turkish Subsidiary Costs; Declares Dividend

Stelrad Group PLC said Friday that pretax profit for the first half fell amid higher costs caused by its Turkish subsidiary new reporting standards, but revenue rose driven by increased margins.

 
Market Talk: 

Rio Tinto Expected to Disclose Simandou Scale Within Months, Barrenjoey Says

0532 GMT - Rio Tinto is expected to update investors on the scale of the Simandou iron-ore project in Guinea within months, Barrenjoey analysts say in a note following a sell-side roundtable with CFO Peter Cunningham. "Peter noted Rio has been working closely with [JV partner] Winning since Q2, with high level conceptual plans clear and engineering solutions advanced," say the analysts. The Barrenjoey analysts expect an $18 billion, 120-million metric ton per annum project. "When asked if Rio could sell due to ESG concerns, Peter noted Rio is confident Simandou will have impeccable ESG standards," the analysts say. ([e-mail]; @RhiannonHoyle)

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

August 12, 2022 03:04 ET (07:04 GMT)

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