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    TLW   GB0001500809

TULLOW OIL PLC

(TLW)
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UK shares dip as British inflation data reignites taper fears

09/15/2021 | 04:11am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Just Eat Takeaway drops after media report Deliveroo, Amazon cut deal

* UK CPI rockets by 3.2% on rebound from restaurant discount scheme

* Darktrace ups 2022 growth forecast, shares rise

* FTSE 100 down 0.1%, FTSE 250 off 0.3%

Sept 15 (Reuters) - UK shares fell on Wednesday, dented by industrial and consumer discretionary stocks, after data showed British inflation accelerated to a 9-year high, reigniting concerns about a sooner-than-expected policy tightening by the Bank of England.

The blue-chip index slipped 0.1%, with food delivery company Just Eat Takeaway.com dropping 3.5% to the bottom of the index following a media report that Amazon and rival Deliveroo will offer free delivery to prime subscribers in the UK.

Deliveroo shares were up 0.9%.

Losses in the index, however, were limited by decent gains by heavyweight oil majors BP, Royal Dutch Shell and life insurers.

The domestically focused mid-cap FTSE 250 index declined 0.3%.

Consumer prices last month rose by 3.2% in annual terms, its biggest monthly jump in at least 24 years, largely due to a one-off boost reflecting the "Eat Out to Help Out" scheme that pushed down restaurant meal prices last year.

The data came on the heels of a strong jobs report, with the focus now shifting to BoE's policy meeting due next week as policymakers remain split on whether basic conditions for a rate hike are met by the economy.

"The key question for investors is how this impacts the timing of the first rate hike. The bank will be reluctant to move until it is also confident that the economy has successfully negotiated the end of the furlough scheme," said Hugh Gimber, global market strategist at J.P. Morgan Asset Management.

"With inflation running hot and wages on the rise, the bank looks quite likely to be one of the first major central banks to hike rates next year."

A Reuters poll forecasts the BoE will raise borrowing costs by end-2022, earlier than previously thought, and there is a chance it comes even sooner.

Among other stocks, Darktrace jumped 10.3% after the cybersecurity company increased its revenue growth forecast for its 2022 financial year.

Tullow Oil added 5.6% after the Africa-focused oil and gas company swung to a profit in the first half. (Reporting by Devik Jain in Bengaluru; Editing by Uttaresh.V and Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.19% 362.4477 Delayed Quote.42.50%
DARKTRACE PLC 3.61% 940.526 Delayed Quote.0.00%
DELIVEROO PLC -3.15% 292 Delayed Quote.0.00%
TULLOW OIL PLC -1.72% 51.48 Delayed Quote.77.15%
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Analyst Recommendations on TULLOW OIL PLC
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Financials (USD)
Sales 2021 1 367 M - -
Net income 2021 188 M - -
Net Debt 2021 2 157 M - -
P/E ratio 2021 6,17x
Yield 2021 -
Capitalization 1 036 M 1 036 M -
EV / Sales 2021 2,34x
EV / Sales 2022 2,19x
Nbr of Employees 730
Free-Float 76,4%
Chart TULLOW OIL PLC
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Tullow Oil plc Technical Analysis Chart | TLW | GB0001500809 | MarketScreener
Technical analysis trends TULLOW OIL PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 0,72 $
Average target price 0,78 $
Spread / Average Target 7,82%
EPS Revisions
Managers and Directors
Rahul Dhir Chief Executive Officer & Executive Director
George Leslie Wood Chief Financial Officer & Executive Director
Dorothy Carrington Thompson Chairman
Sandy Stash EVP-Safety, Operations & Engineering
Mark Stuart MacFarlane Chief Operating Officer
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