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London Shares to Open Slightly Lower Amid Global Covid-19 Concerns

08/03/2021 | 03:08am EDT

FTSE 100 to Open Slightly Lower Amid Global Covid-19 Concerns

The FTSE 100 is seen opening slightly lower amid concerns about the fast-spreading Delta coronavirus variant derailing the global economic recovery. Spreadbetting firm IG expects the London index to fall 5 points after ending Monday's session up 49 points. After U.S. stocks closed lower after the July ISM manufacturing report missed expectations, CMC Markets analyst Michael Hewson says: "With a number of U.S. states reinstating mask mandates and tightening restrictions, the optimism of a few weeks ago is now being replaced by doubts as to how resilient the recovery we've seen so far this year can remain, as we head into the autumn and the weather starts to get colder."

 
Companies News: 

Hiscox Swung to 1H Pretax Profit, Resumes Dividend

Hiscox Ltd. reported Tuesday a swing to a pretax profit for the first half of 2021, said that it is confident about its performance for the rest of the year and that it has resumed its dividend.

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BP Raises Dividend, Launches $1.4 Bln Share Buyback

BP PLC on Tuesday said it increased the dividend for the second quarter and launched a $1.4 billion share buyback.

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Direct Line Insurance 1H Pretax Profit Rose; Buyback Program Continues

Direct Line Insurance Group PLC on Tuesday reported an 11% rise in first-half pretax profit on the back of higher operating profit and launched the second part of its share buyback program announced in March.

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Lamprell Sees 2021 Ebitda Near Break-Even Levels

Lamprell PLC said Tuesday that its full-year expectations for earnings before interest, taxes, depreciation and amortization remain at broadly break-even levels.

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Fresnillo 1H Pretax Profit Rose

Fresnillo PLC said Tuesday that pretax profit increased as revenue rose for the first half of 2021, and that it was on track to meet its 2021 production guidance.

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TP ICAP's 1H Performance Was Stable

TP ICAP Group PLC said Tuesday that it delivered a stable performance in the first half of the year, and that it expects to end 2021 with revenue broadly in line with the previous year's.

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Joules Group Swung to a FY 2021 Pretax Profit

Joules Group PLC reported on Tuesday a swing to a pretax profit for fiscal 2021, and said it has entered fiscal 2022 in a strong position, performing in line with management expectations.

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Greggs PLC Returned to 1H Pretax Profit, Declares Dividend

Greggs PLC on Tuesday reported a swing to pretax profit for the first half of 2021 on revenue that rose, returned to the dividend list and said it expects full-year profit to beat its previous expectations.

 
Market Talk: 

Miners Delivering Where it Matters Most

Miners have so far this reporting season delivered solid results "where it matters most" and notched healthy cash generation, Citi says. The highlight to-date is the step up in shareholder pay outs via dividends as well as buy backs. "The companies have generally reported solid numbers and upbeat outlooks despite softer production numbers at some of the miners," Citi says. Stock reactions have also been generally positive, although equities also remain heavily influenced by the macro environment, says the bank. It will be watching upcoming results from Glencore, BHP and Antofagasta, with a focus on incremental cash returns over and above ordinary dividends.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

08-03-21 0307ET

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