FTSE 100 will open higher, recovering from heavy losses

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London stocks open higher, rally after steep losses

The FTSE 100 is expected to open around 55 points higher, according to IG, rebounding from heavy losses on Monday, when concerns over problems with Chinese real estate giant Evergrande saw the index close at a two-month low at 6903.91. Concerns about high inflation and slowing growth persist, but for now, stocks should rally after such large losses. “The losses … have been contained, and with that, European markets are expected to open slightly higher this morning, with US futures rebounding as well. Concerns about Evergrande remain, but for now there appears to be a wait-and-see approach taken, “said Michael Hewson, analyst at CMC Markets. A few individual stocks will be the center of attention following the earnings update, including Kingfisher, Travis Perkins and Compass Group.

 
Companies News: 

Travis Perkins to return £ 179million to shareholders via buyout and special dividend

Travis Perkins PLC launches £ 100million ($ 136.6million) share buyback and special dividend of £ 79million, following the sale of its plumbing and heating distribution business, has t he announced on Tuesday.

Kingfisher 1H Adjusted Pre-Tax Profit Ahead of Market Views

Kingfisher PLC on Tuesday announced a significant increase in its profit before tax and adjusted profit before tax for the first half of fiscal 2022 and said its outlook for the full year had improved.

Stagecoach is in merger talks with National Express Group

British transport group Stagecoach Group PLC said on Tuesday it was in talks for a takeover of all shares by its counterpart National Express Group PLC, which would give its shareholders around 25% of the combined group if the deal was concluded.

Compass Group Reports Underlying Fourth Quarter Revenue to Be 86% of Fiscal 2019

Compass Group PLC said on Tuesday that it expects underlying fourth quarter revenue at constant exchange rates to improve to 86% of 2019 revenue, and that it will be slightly ahead of the previous range of 80% to 85%.

Blackstone’s BioMed to invest $ 1.2 billion in new UK labs

US property investment firm BioMed Realty said on Tuesday it plans to significantly increase its UK lab space after acquiring two sites in the city of Cambridge.

PensionBee Group 1H pre-tax loss widened

PensionBee Group PLC on Tuesday announced a significantly widened pre-tax loss for the first half of 2021 and said its performance for the period was in line with management’s expectations.

Dignity shifted to 1H Profit on financial revaluations

Dignity PLC reported profit for the first half of the fiscal year on Tuesday, but its underlying profits declined as the number of deaths declined year over year.

Knights Group says strong performance will continue in fiscal 2022

Knights Group Holdings PLC said on Tuesday that its performance remained strong and in line with expectations after the end of fiscal 2021 on April 30.

Aegon appeals Hungarian court decision to block acquisition by Vienna Insurance Group

Aegon NV announced on Tuesday that it would appeal a decision by the Budapest Metropolitan Court to block the acquisition of its Hungarian business by Vienna Insurance Group AG.

Caerus Mineral Resources to Raise £ 1.5million to Fund Project Development

Caerus Mineral Resources PLC said on Tuesday it was raising 1.5 million pounds ($ 2 million) through a stock placement and subscription and would use the money to finance the development of the project.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

(END) Dow Jones Newswires

September 21, 2021 03:06 ET (07:06 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.


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