FTSE 100 makes modest gains but Fed concerns persist

The FTSE 100 increases temporarily; Miners fall

0757 GMT – The FTSE 100 index rose 0.4% to 7,046.92, sentiment being helped by gains in US stock indexes the day before. Gains are limited, however, as stocks continue to struggle for direction. Concerns persist about the US Federal Reserve’s plans to curtail asset purchases in the coming months, even though the recent US inflation slowdown means that prospect does not seem imminent. “European markets should start the day with small gains, but overall it looks like last week’s back-and-forth movement remains the dominant theme,” IG said. Travel stocks are among the biggest gains, with British Airways owner International Consolidated Airlines up 2.7%, although mining stocks are down. The focus will later be on the release of US retail sales and jobless claims data at 12:30 p.m. GMT. ([email protected])

 
Companies News: 

Ryanair raises its five-year passenger growth forecast to 50%

Ryanair Holdings PLC on Thursday raised its five-year growth forecast to 225 million passengers by March 2026.

Philip Morris’ offer for Vectura becomes unconditional after securing 75% backing

Philip Morris International Inc. said on Thursday that its bid for Vectura Group PLC had become unconditional in all respects, after securing backing representing 74.77% of the share capital of the UK inhalation drug company.

Ashtead Group’s first quarter pre-tax profit increased; Increase orientation

Ashtead Group PLC said on Thursday that pre-tax profit increased as revenue increased for the first quarter of fiscal 2022, and the board expects results for the full year are ahead of its previous expectations.

IG Group first quarter revenue increased by 6% thanks to the acquisition of Tastytrade

IG Group Holdings PLC said Thursday that its revenues increased in the first quarter of the fiscal year, driven by the acquisition of online brokerage Tastytrade.

Games Workshop declares dividend of 25 pence; see performance online

Games Workshop Group PLC on Thursday declared a dividend of 25 pence (35 cents) per share and said performance in the three months leading up to August 29 was as expected.

Galliford Try Holdings recorded pre-tax profit for fiscal year 2021

Galliford Try Holdings PLC on Thursday announced a move to pre-tax profit for fiscal 2021 and said it was well positioned to generate growth.

THG’s 1H pre-tax loss widened

THG PLC on Thursday announced a significantly widened pre-tax loss for the first half of 2021 and said the planned separation of its main business divisions remains ahead of schedule.

Chamberlin Expects to Restore Profitability in FY2022, Shares Rise

Shares of Chamberlin PLC rose Thursday morning after the casting and engineering group said it expected to return to profitability in the second half of the year.

Enwell Energy 1H Profit Increased Due to Higher Production and Prices

Enwell Energy PLC on Thursday announced a significant improvement in its profits for the first half of the year, reflecting the rise in gas production and prices.

Pre-tax loss Circassia 1H narrowed

Circassia Group PLC on Thursday announced a reduced pre-tax loss for the first half of 2021 and said activity in July and August was slightly above the EBITDA breakeven point.

Keystone Law Group 1H Profit before taxes Rose

Keystone Law Group PLC said Thursday that pre-tax profit increased for the first half of fiscal 2022 as revenue increased, and that it expects its performance for the year to be significantly better than market expectations.

Clinigen Group’s pre-tax profit more than doubled in fiscal year 2021

Clinigen Group PLC on Thursday reported more than doubled pre-tax profit on higher revenues for fiscal 2021.

Brooks Macdonald’s pre-tax profit for fiscal 2021 increased

Brooks Macdonald Group PLC said Thursday that pre-tax profit for fiscal 2021 increased as revenue increased and that, with a strong pipeline and net flows expected to improve further in fiscal 2022, it was well positioned to continue to implement its growth strategy.

C&C Group returned to profitability in the first half of fiscal 2022

C&C Group PLC said on Thursday it had returned to profitability in the first half of fiscal 2022 and was partly immune to the shortage of truck drivers in the UK

Reduction of Superdry pre-tax loss for fiscal 2021; Medium-term optimist

Superdry PLC said Thursday that its pre-tax loss for fiscal 2021 had narrowed thanks to lower costs and that trade had been encouraging since its stores reopened.

Kier Group recorded a profit before tax for the financial year 2021; Current performance in line with views

Kier Group PLC said on Thursday that it moved to pre-tax profit for fiscal 2021 after recording lower costs, and that current performance was in line with board expectations.

 
Market Talk: 

UK break-even rate hike drives up gilt yields

0737 GMT – Higher-than-expected inflation data in the UK triggered an increase in equilibrium rates, a measure of market-based inflation expectations derived from the difference between nominal government bond yields and comparable returns linked to inflation, according to UniCredit. Nominal government yields rose on both sides of the Atlantic, driven by a rise in breakevens triggered by higher-than-expected inflation data in the UK, he adds, adding that breakeven points in 10-year gilts rose 9 basis points. ([email protected])

 

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newspapers; [email protected]

(END) Dow Jones Newswires

September 16, 2021 04:19 ET (08:19 GMT)

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


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