[ADVERT]
Name Symbol Market Type
FTSE 100 Index FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -90.88 -1.2% 7,494.13 7,585.01 7,450.49 7,585.01 0 16:35:30

Sterling Expected to Gain on UK Recovery, BOE Rate Rises

21/10/2021 11:10am

Dow Jones News


FTSE 100
Index Chart


From Jul 2021 to Jan 2022

Click Here for more FTSE 100 Charts.

Sterling Is Expected to Gain on UK Recovery, BOE Rate Rises

0914 GMT - The U.K.'s economic recovery and the prospect of the Bank of England raising interest rates in November should provide "good support" to sterling, Ebury says. The U.K. economy remains on course to outperform most of its major peers this year, says Matthew Ryan, analyst at the financial-service firm. "We also think that the Bank of England is on course to raise interest rates much sooner than most of its G10 peers," Ryan says. Ebury expects the BOE to raise its key rate by 15 basis points in November and by 25 basis points in February. It sees GBP/USD rising to 1.40 by year-end and to 1.45 by the end of 2022, versus 1.3804 currently. (renae.dyer@wsj.com)

 
Companies News: 

Barclays Profit Rises on Investment Banking--Update

Barclays PLC said its net profit rose in the third quarter, driven by a continued strong performance at its investment bank.

---

Unilever 3Q Underlying Sales Rose, Backs Margin Guidance Despite Cost Inflation

Unilever PLC said Thursday that third-quarter underlying sales rose on good growth in its priority markets of the U.S., China and India, development of online shopping channels and growth of portfolio brands.

---

St. James's Place 3Q Net Inflows, Funds Under Management Rose

St. James's Place PLC said Thursday that funds under management and net inflows increased significantly in the third quarter of 2021.

---

Rentokil Initial 3Q Revenue Rose 0.5%, Backs 2021 Guidance

Rentokil Initial PLC on Thursday reported a 0.5% rise in third quarter revenue at actual exchange rates and backed its full-year guidance.

---

Anglo American Platinum Reports Flat 3Q Production; Reaffirms 2021 Guidance

Anglo American Platinum Ltd. on Thursday reported broadly flat production for the third quarter and reiterated full-year guidance.

---

Babcock International 1H Revenue Seen to Rise; FY Outlook Unchanged

Babcock International Group PLC said Thursday that performance for the first half of fiscal 2022 was in line with its expectations and it backed its guidance for the full year.

---

Gateley (Holdings) Shareholders Sell GBP11.4 Mln Worth of Shares

Gateley (Holdings) PLC said Thursday that 11.4 million pounds ($15.8 million) worth of shares have been sold on behalf of certain directors and employees, as first announced late Wednesday.

---

Renishaw 1Q Pretax Profit Rose 39%

Renishaw PLC said Thursday that its profit and revenue increased in the first quarter of the fiscal year and that it has a record order book.

---

GB Group Says 1H Sales, Adjusted Operating Profit Grew

GB Group PLC said Thursday that revenue and adjusted operating profit for the first half of fiscal 2022 increased, and that the outlook for the second half is in line with the company's expectations.

---

FirstGroup Sells Greyhound to FlixMobility for $172 Mln

FirstGroup PLC said Thursday it has sold its North American subsidiary Greyhound Lines, Inc. to FlixMobility GmbH for a total cash consideration of $172 million, effective immediately.

---

Driver Group Says FY 2021 Underlying Pretax Profit Is in Line With Views

Driver Group PLC said Thursday that it expects to report an underlying pretax profit for the fiscal 2021 in line with market expectations.

---

Provident Financial 3Q Performance Improved, Mulls 2021 Dividend

Provident Financial PLC said Thursday that its third-quarter performance improved significantly on more favorable macroeconomic conditions and customer demand for credit, and if it persists it will consider an ordinary dividend for 2021.

 
Market Talk: 

Rentokil 3Q Matched Hopes; Shares Lag US Rivals

0939 GMT - Shares in Rentokil Initial drop 1.6% as the pest-control and hygiene group reported third-quarter revenue in line with market expectations. The shares still trade significantly below key U.S. peers such as Rollins, brokerage Davy says. "Considering the much-improved potential for hygiene since the pandemic, we see the opportunity for this business to re-rate as management executes the growth strategy. We still see the French workwear operations as a divestment candidate," Davy analysts say. (philip.waller@wsj.com)

Barclays 3Q Shows Business Is in Good Shape

0907 GMT - Shares in Barclays drop 0.8% even as the bank reported higher third-quarter net profit, driven by a continued strong performance at its investment bank. Profit topped expectations, helped by big takeover deals and rising income from equities, trading firm eToro says. "Barclays more than probably any other U.K. bank has had a long-standing identity crisis over whether it was fundamentally an investment bank along the lines of Goldman Sachs, or a retail bank more akin to Lloyds Bank," eToro analyst Mark Crouch says. "That issue seems to have no real resolution, but investors will likely be pleased that both ends of the business appear to be in rude health either way." (philip.waller@wsj.com)

 

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

October 21, 2021 05:55 ET (09:55 GMT)

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

1 Year FTSE 100 Chart

1 Year FTSE 100 Chart

1 Month FTSE 100 Chart

1 Month FTSE 100 Chart
ADVFN Advertorial
Your Recent History
FTSE
UKX
FTSE 100
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220124 04:40:19