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FTSE 100 Seen Lower as Inflation, Supply Chain Fears Weigh

09/29/2021 | 03:05am EST

FTSE 100 Seen Opening Lower on Fears Over Inflation, Supply Chain Disruptions

0646 GMT - The FTSE 100 is expected to open lower amid concerns about supply-chain disruptions and inflationary pressures. Spreadbetting firm IG expects the index to open down 17 points after closing Tuesday's session down 35 points. "Once again it is fears about surging energy prices, supply chain disruptions, and concerns about more persistent inflation that is sparking a move out of the more highly valued areas of the stock market," CMC Markets analyst Michael Hewson says. U.K. mortgage approvals data are due at 0830 GMT while European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Federal Reserve Chair Jerome Powell will speak later. (renae.dyer@wsj.com)

 
Companies News: 

Abrdn PLC Sells HDFC AMC Shares On Bombay Exchange for GBP268M

Abrdn PLC said Wednesday that it has sold 10.7 million shares of HDFC Asset Management Co. on the Bombay Stock Exchange for 268 million pounds ($362.8 million) net.

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Next Swung to a 1H Pretax Profit; Raises FY Guidance

Next PLC on Wednesday reported a swing to a pretax profit for the first half of fiscal 2022, and increased its full-year pretax profit and full price sales guidance amid stronger online sales.

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SSE Enters Japanese Offshore-Wind Market; Forecasts 1H Adj EPS Drop

SSE PLC said Wednesday that it has signed a deal to enter the Japanese offshore-wind market, and forecast lower adjusted earnings per share for the first half of the fiscal year.

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AstraZeneca to Buy Remaining Stake in Caelum Biosciences for $150 Mln

AstraZeneca PLC said on Wednesday that it will acquire the remaining equity in Caelum Biosciences Inc. for $150 million upon completion.

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Quiz Swung to a FY Pretax Profit; Sales Seeing Significant Recovery

Quiz PLC reported on Wednesday a swing to a pretax profit for fiscal 2021 and said that its performance from April to August rose significantly, approaching pre-covid-19 levels.

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UK Watchdog Clears Auction Technology's Acquisition of Live Auctioneers

The U.K. Competition and Markets Authority said Wednesday that it won't refer Auction Technology Group PLC's acquisition of Live Auctioneers, LLC for a further review.

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Comptoir Posts 1H Loss, Says All Sites Are Profitable Since Reopening

Comptoir Group PLC on Wednesday reported a loss for the first half of the year, but said that all its sites are making a positive contribution at the profit level since reopening.

 
Market Talk: 

GBP/USD Softer Even as BOE Keeps Door Open to Hike Rates

2306 GMT -- GBP/USD has fallen 1.3% to near 1.355 even as the Bank of England is holding the door open for a possible rate liftoff late this year because of elevated inflation. CBA says the recent surge in energy prices likely deepened inflation concerns and could encourage the BoE to hike earlier than its 2023 forecast. BoE Governor Bailey is scheduled to speak again at 1545 GMT. (james.glynn@wsj.com)

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GBP Falls Hardest as USD Shelter Sought

1928 GMT - Major currencies are down against the dollar overnight as equity markets tumbled and the 10-year Treasury yield continued to climb following increased expectations for FOMC tightening. GBP/USD is the worst performer among so called G-10 currencies, down about 1.2% to 1.3537, which BNZ says reflects risks that the BoE might tighten policy prematurely. NZD, AUD and NOK also fall sharply, by as much as 1.0%. "The number and extent of global growth potholes are growing and there's a whiff of stagflation concerns in the air," says BNZ. "Currency traders have flocked to safe havens, seeing a broadly-based rise in the USD." (stephen.wright@wsj.com)

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

(END) Dow Jones Newswires

09-29-21 0304ET

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