Strong UK Jobs Data Supports BOE's Worries Over Inflation
0727 GMT - U.K. jobs data signals that inflation may be less transitory than initially thought, says JPMorgan Asset Management. "Bank of England (BoE) Governor [Andrew] Bailey had already acknowledged that inflation would be less transient than the BOE had initially predicted and today's jobs report further supports that view," says global market strategist Ambrose Crofton. Official data showed the unemployment rate fell to 4.5% in the three months to July from 4.6% in the previous quarter, while average earnings grew by 6% in the period, beating expectations in a WSJ poll of 5.9%. (firstname.lastname@example.org)
InterContinental Hotels in Talks to Find a Replacement for Chairman Patrick Cescau -Sky News
InterContinental Hotels Group is in talks with headhunters to appoint a successor to veteran chairman Patrick Cescau, Unilever's former CEO, Sky News says.
Entain 3Q Net Gambling Revenue Rose 4%
Entain PLC on Tuesday reported that its net gambling revenue increased 4% in the third quarter, and reaffirmed full-year earnings expectations.
De La Rue Says FY Outlook Remains in Line With Expectations
De La Rue PLC said Tuesday that its outlook for the year ending in March 2022 remains in line with expectations.
French Connection 1H Loss Narrowed, Revenue Remained 21% Below Pre-Pandemic Levels
French Connection Group PLC on Tuesday reported a narrowed loss for the first half of the fiscal year, but its revenue remained below pre-pandemic levels due to a reduced retail portfolio and temporary Covid-19 store closures.
EasyJet Expects to Report a Headline Loss for FY 2021
easyJet PLC said Tuesday that it expects to report a headline loss for fiscal 2021, and that its headline loss for the fourth quarter fell by more than half on year.
Liontrust Asset Management 1H 2022 Assets Under Management Rose 15%
Liontrust Asset Management PLC said Tuesday that assets under management were up 15% over the first half of the fiscal year, as inflows increased.
BlueRock Diamonds Production, Sales, Prices Rose in 3Q
BlueRock Diamonds PLC on Tuesday reported higher diamond production, sales and realized prices for the third quarter of the year.
Marley Group Pulls IPO Plan
Marley Group Ltd. said Tuesday that it won't be proceeding with its planned initial public offering on the London Stock Exchange due to the current market volatility.
Calnex Solutions Expects FY 2022 Revenue, Profit to Be Above Expectations
Calnex Solutions PLC on Tuesday said it expects revenue and profits for the fiscal year 2022 to be materially above previous expectations.
OnTheMarket 1H Pretax Profit Fell; Sees Full-Year Revenue and Adjusted Operating Profit Ahead of Expectations
OnTheMarket PLC on Tuesday posted a fall in pretax profit for the first half of fiscal 2022 on higher nonrecurring costs, and said full-year revenue and adjusted operating profit are now expected to be slightly ahead of expectations.
Stagecoach Group's Regional Bus Operations Ended September in Excess of 70% of 2019 Equivalent
Stagecoach Group PLC said Tuesday that the number of journeys in its regional bus operations by the end of September were in excess of 70% of equivalent 2019 levels, and backed its guidance for the year ending April 30, 2022.
Entain Reaffirms Outlook, Focus to Remain on Bid Interest
0722 GMT - Entain has reaffirmed its 2021 Ebitda guidance of GBP850 million-GBP900 million, RBC Capital Markets says, noting that the market consensus is GBP877 million. The bank believes, however, the focus will remain on the bid interest for the sports-betting and gambling group, after it received an offer from peer DraftKings last month, valuing the business at GBP28.60 a share. DraftKings has until Oct. 19 to put in a firm offer, but MGM Resorts also put in an offer for Entain back in February, RBC says. "We believe the market is pricing in the uncertainty that MGM would be able to block this deal from DraftKings--either via a veto or another lever that it has over ENT (as yet unclear)." (email@example.com)
EasyJet's FY 2021 Expected in Line With Market Expectations After 4Q Update
0718 GMT - easyJet's 4Q trading update was in line with consensus, Citi says. With a cash burn of just under GBP36 million a week in the period beating guidance of GBP40 million, GBP4.4 billion of liquidity at the end of September versus consensus of GBP1.8 billion, and a reduced net debt of GBP900 million, results for the year are expected to be in line with market expectations, the U.S. bank says. "We think the shares will react in line with the market today, given the lack of new detail in today's report," the bank says. Citi has a neutral rating on the stock and a 791-pence target price. Shares are up 0.3% at 649.80 pence. (firstname.lastname@example.org)
UK 2061 Gilt Auction Should Draw in Demand
0701 GMT - The U.K. Debt Management Office's planned sale of GBP1.25 billion in the 0.5% October 2061 should go well given a variety of supporting factors, says RBC Capital Markets. "Given the concessions we have seen on outright, cross-market, asset swap spreads and on micro-relative value, we would expect this auction to go well," analysts at the bank say. The Bank of England's Asset Purchase Facility is operation this afternoon, which will also be supportive for the bond, though the 2062 gilt is not eligible itself. (email@example.com)
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