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Omicron Rattles Interest-Rate Expectations; More Chance BOE Will Hold

29/11/2021 9:55am

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Omicron Rattles Interest-Rate Expectations

0922 GMT - The discovery of the omicron Covid-19 mutation last week has upended market pricing of future interest rates globally. Fears that the new variant may derail the nascent economic recovery as governments reimpose social restrictions and travel bans have prompted investors to cut risk and piled back into safe assets, including U.K. government bonds. The setback from the new virus strain has increased the chance that Bank of England policymakers may hold interest rates in December. "Market participants will now have to be prepared for a substantially wider range of possible outcomes," UniCredit analysts say. The BOE's policy decision is due on Dec. 16. The 10-year gilt yield trades last at 0.846%, after closing last Friday at 0.815%, the lowest level since Sept. 2021, according to Tradeweb. (lorena.ruibal@wsj.com)

 
Companies News: 

Hammerson in Talks to Sell Silverburn Shopping Center for GBP140 Mln

Hammerson PLC said Monday it is in talks to potentially sell Silverburn, its flagship shopping center near Glasgow, for around 140 million pounds ($186.7 million).

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A.G. Barr Sees FY 2022 Pretax Profit, Revenue Ahead of Market Expectations

A.G. Barr PLC said Monday that the positive performance it first disclosed in September has continued and it now expects revenue and pretax profit for fiscal 2022 to exceed market expectations.

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U.K. Watchdog Refers CHC/Babcock International Deal for Further Review

The U.K. Competition and Markets Authority said Monday that it will refer CHC Group LLC's acquisition of Babcock International Group PLC's oil-and-gas offshore helicopter business for a further review after CHC said that it won't offer any solution to address the regulator's competition concerns.

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Grafton's Traditional Merchanting Business Sale Raises Competition Concerns, UK Watchdog Says

The U.K. Competition and Markets Authority said Monday that Grafton Group PLC's planned sale of its traditional merchanting business in Great Britain to Huws Gray could create competition issues and that it will refer the deal for a further review unless the parties offer an acceptable undertaking to address its concerns.

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Gresham House Strategic Proposes Wind-Down; Initial GBP25 Mln Capital Return

Gresham House Strategic PLC said Monday that it has recommended proposals for a managed wind-down of the company, and proposed an initial return of capital of up to 25 million pounds ($33.3 million).

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Amigo Holdings Proposes New Scheme Involving Dilutive Equity Raise, Lending Restart

Amigo Holdings PLC said Monday that it has proposed a scheme to address the complaints liability which involves an equity raise that is likely to result in material dilution for existing shareholders.

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Benchmark Holdings Raises GBP20.7 Mln Via Share Issue

Benchmark Holdings PLC said Monday that it has raised 20.7 million pounds ($27.6 million) via a share issue to fund its growth initiatives.

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Constellation Automotive Launches GBP322.9 Mln Takeover for Marshall Motor

Constellation Automotive Holdings Ltd. on Monday launched a 322.9 million-pound ($430.7 million) takeover for Marshall Motor Holdings PLC.

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Dev Clever Sees FY 2021 Earnings 'Materially Ahead' of Expectations

Dev Clever Holdings PLC said Monday that it expects to report adjusted earnings before interest, taxes, depreciation and amortization materially ahead of management expectations for the year ended Oct. 31.

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Hummingbird Shares Dive as Gold Mine in Mali Is Shut Due to Security Issues

Shares in Hummingbird Resources PLC fell in early trading Monday after it warned that its Yanfolila gold mine in Mali has been taken offline due to security issues, and that as a result, full-year production will be below the bottom end of the guidance range.

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Seplat Energy in Talks to Buy Exxon Mobil's Nigerian Shallow Water Business

Seplat Energy PLC said Monday that it is in talks with a partner to buy Exxon Mobil Corp.'s Nigerian shallow water business.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

November 29, 2021 04:40 ET (09:40 GMT)

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

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