FTSE 100 Rises as China-Exposed Stocks Gain
0845 GMT - The FTSE 100 rises 0.2% to 7565 points as China-exposed stocks rise on optimism over the country's unwinding of strict Covid-19 restrictions. London's premier index is bolstered by further gains in the likes of Burberry and International Consolidated Airlines as the "China recovery story prompted broker upgrades," Interactive Investor analyst Richard Hunter writes. "On the other side of the China coin, some concerns regarding demand dragged on the oil price, taking BP and Shell with it, which in turn constrained any stronger early gains for the index." Investors are optimistic about the potential for a Chinese economic rebound on the reversal of Covid-19 curbs but a subsequent rise in infections could also dampen demand, Hunter says. (renae.dyer@wsj.com)
Companies News:
Union Jack Oil FY 2022 Revenue Rose on Wressle Well Production
Union Jack Oil PLC on Wednesday said its 2022 revenue was boosted by its Wressle hydrocarbon development, which made $12 million in net revenue since production restarted at the site in August.
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HEIQ Expects to Miss 2022 Market Views; Buys Tarn-Pure Holdings
HEIQ PLC said Wednesday that it expects to miss consensus expectations for 2022 after market conditions worsened in the fourth quarter, and that it has acquired Tarn-Pure Holdings Ltd.
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Concurrent Technologies Sees 2022 Revenue Ahead of Views, Pretax Profit at Least in Line
Concurrent Technologies PLC said Wednesday that it expects to report revenue around 10% ahead of market expectations and pretax profit at least in line with market expectations for 2022.
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Vast Resources' Romanian Mine 4Q Production, Sales Rose Ahead of Forecasts
Vast Resources PLC said Wednesday that its fourth-quarter copper concentrate production and sales rose on quarter at its Baita Plai Polymetallic Mine in Romania, exceeding forecasts made in mid-December.
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Carr's Group Shares Suspended Due to Delayed FY 2022 Audited Results
Carr's Group PLC said Wednesday that its shares have been temporarily suspended as it has been unable to publish its audited fiscal 2022 results by the required deadline.
Market Talk:
Sterling Could Fall Vs Dollar, Especially if US Rate-Cut Bets Are Scaled Back
0852 GMT - ING expects sterling to fall versus the dollar, especially if the market starts to rein in previous expectations that the Federal Reserve could cut interest rates just as the Bank of England becomes more cautious, ING says. "We think the 200 basis points Fed easing cycle priced from summer 2023 could be pared back a little," ING analyst Chris Turner says in a note. GBP/USD could fall to 1.1650 if U.S. data, particularly on inflation and wages, exceed expectations, he says. GBP/USD rises 0.9% to 1.2082. (renae.dyer@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
01-04-23 0413ET
