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

UK Public Borrowing Likely to Keep Undershooting Official Forecasts

21/10/2021 9:00am

Dow Jones News

FTSE 100
Index Chart

From Jul 2021 to Jan 2022

Click Here for more FTSE 100 Charts.

UK Public Borrowing Likely to Keep Undershooting Official Forecasts

0727 GMT - U.K. public-sector net borrowing, excluding public-sector banks, was GBP21.8 billion in September, down GBP7 billion from a year earlier, keeping the country on track to undershoot borrowing estimates by the Office for Budget Responsibility, says Martin Beck, senior economic advisor to the EY ITEM Club. Stronger-than-expected tax receipts continued to account for the bulk of the borrowing undershoot in the first half of the year, though spending has also fallen back more quickly than anticipated, reflecting a much stronger recovery in activity than the OBR's cautious forecast, he says. EY ITEM Club expects full-year borrowing to come in at just over GBP200 billion, well below the OBR's forecast of GBP234 billion. (lorena.ruibal@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: 

Anglo American Update to Cause Downgrades on Iron-Ore, Coal Pricing

0725 GMT - Shares in Anglo American fall 2.5% after the miner released its third quarter update. Production was generally in line or better than expectations, but the report is likely to lead to consensus downgrades, Tyler Broda from RBC Capital Markets warns. This is because realized pricing in metallurgical coal and iron ore has caused far lower realizations than forecast, he says. "All outstanding cargoes at quarter end get repriced, and with the sharp fall in iron ore index pricing, as well as a collapse in lump and grade premiums to September 30, the adjustments have reduced iron ore revenue substantially with realisations down 38%-43% vs our forecast." (jaime.llinares@wsj.com)


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

(END) Dow Jones Newswires

October 21, 2021 03:45 ET (07:45 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 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 05:24:03