Pound Rises Vs Dollar But Little Moved Vs Euro After UK GDP Data
0812 GMT - Sterling rises against a weaker dollar but is little changed against the euro after data showed the U.K. economy narrowly avoided a recession last year despite a worse-than-expected contraction in December. U.K. gross domestic product fell 0.5% month-on-month in December, more than the 0.3% fall expected by analysts in a WSJ survey. However, GDP was unchanged between the third and fourth quarters. "The fact that the fourth quarter's weakness was heavily concentrated in December means the starting point for the first quarter is pretty low, and means we'll almost certainly get a contraction in the first quarter," ING economist James Smith writes. GBP/USD rises to 1.2137 after the data from 1.2103 beforehand but EUR/GBP is little moved at 0.8861. (renae.dyer@wsj.com)
Companies News:
Saga in Discussions With Open Insurance Over Possible Acromas Sale
Saga PLC said Friday that it was in exclusive discussions with Open Insurance Technologies Pty Ltd. regarding a possible sale of its in-house insurer Acromas Insurance Company Ltd., or AICL.
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Victrex 1Q Revenue Rose on Better-Than-Expected Prices
Victrex PLC said Friday that revenue rose 6% in the first quarter of fiscal 2023 as average selling prices were ahead of expectations, with good momentum from price increases and surcharge pricing.
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ASOS Names Sean Glithero as Next Interim CFO
ASOS PLC said Friday that Sean Glithero will be appointed interim chief financial officer from May, until a permanent CFO is found.
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Lancashire Holdings 2022 Pretax Loss Narrowed on Higher Underwriting Profit
Lancashire Holdings Ltd. on Friday said its pretax loss for 2022 narrowed as its premiums increased and said it has seen a strong start to 2023.
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3i Infrastructure Raises GBP100 Mln via Share Placing
3i Infrastructure PLC said Friday that it has raised 100 million pounds ($121.2 million) via the previously announced share placing, part of which will be used to repay a debt facility with the rest for future investments.
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Polymetal International Working to Restore Regular Trading of Shares After Disruption
Polymetal International PLC said Friday that it is working to restore the regular trading of its shares after a disruption.
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ITIM Group Sees 2022 Revenue in Line; Earnings Below Views
ITIM Group PLC said Friday that it expects to report 2022 revenue in line with market expectations and earnings before interest, taxes, depreciation and amortization below market views.
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Belluscura Raises $5.8 Mln; Will Issue Additional Option of Up to $4.2 Mln
Belluscura PLC said Friday that it has raised a total of around $5.8 million before expenses in a combined placing and broker option, and will issue an additional broker option worth up to $4.2 million.
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Scotgold Resources Raises GBP2.5 Mln via Placing, Subscription
Scotgold Resources Ltd. said Friday that it has raised 2.5 million pounds ($3 million) via the share placing and subscription first announced late Thursday.
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FRC chief executive set for exit to lead HS2 -- Financial News
Jon Thompson will continue as chief executive of the FRC on a part-time basis until the end of his six months' notice period
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Fulcrum Metals to Raise GBP3 Mln in London IPO
Fulcrum Metals PLC said Friday that it intends to list on the AIM market of the London Stock Exchange and aims to raise 3 million pounds ($3.6 million) via a conditional share placing.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
02-10-23 0331ET
