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London Stocks Seen Higher on Evergrande Hope as Fed Looms

09/22/2021 | 03:08am EDT

London Stocks Seen Opening Higher as Market Awaits Fed Decision

0644 GMT - The FTSE 100 index is expected to open 63 points higher, according to IG, having closed on Tuesday at 6980.98, buoyed after an onshore unit of troubled Chinese property company Evergrande said it would make an interest payment on time this week. The information was "short on details" but nevertheless it looks enough to boost European equities at the open, UniCredit analysts say. Focus Wednesday will center on a Federal Reserve policy announcement due after the European market close, where investors will be watching for any details on plans to taper asset purchases. The Fed will "probably be clear on the central bank's commitment to start lowering bond purchases before year-end but short on details about the pace and the composition of tapering," UniCredit says. (jessica.fleetham@wsj.com)

Companies News: 

Halma Raises FY 2022 Guidance After 1H Exceeded Expectations

Halma PLC on Wednesday raised its profit guidance for the fiscal year after a better-than-expected first half.


Entain Considers Improved GBP16.4 Bln Bid From DraftKings

Entain PLC said Wednesday that it is considering a new, improved takeover bid from DraftKings Inc. after rejecting an earlier offer from the U.S. digital sports-betting and entertainment company.


Saga Swung to 1H Pretax Profit; No Guidance Due to Pandemic

Saga PLC said Wednesday that it swung to a pretax profit for the first half of fiscal 2022 after booking lower costs, and that it wasn't giving any earnings guidance for the year given continued uncertainty stemming from the pandemic.


SDI Group Current FY2022 Trading Slightly Ahead of Forecasts

SDI Group PLC said Wednesday that it has made a good start to fiscal 2022, beating modestly its initial forecasts, and noted that the board remains confident about delivering full-year results at least in line with market expectations.


Ten Entertainment Sees 2021 Performance Ahead of Views After 'Exceptional' Summer

Ten Entertainment Group PLC said Wednesday that it expects full-year performance to be ahead of previous internal expectations after an exceptional summer.

Market Talk: 

IAG Well Placed to Gain Share of Transatlantic Routes

0542 GMT - The U.S. announcing that it will allow fully-vaccinated U.K. and European passengers to enter the country from November, alongside the recent simplification of travel rules in the U.K., should boost IAG's bookings, Bank of America Global Research says. For the airline group--which owns British Airways and Iberia among others--North America represented 29% of capacity in 2019 and 21% of passenger revenue by point-of-sale, BofA says. The company is well placed to gain share on transatlantic routes given competitors' capacity cuts as well as its planned acquisition of Spanish airline Air Europa, it says. "We forecast IAG ramps up capacity from 45% of 2019 levels in 3Q to 65% in 4Q," the bank says. BofA rates the stock at a buy. (anthony.orunagoriainoff@dowjones.com)

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

(END) Dow Jones Newswires

09-22-21 0307ET

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