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London Stocks Seen Higher with Powell Speech in Focus

London Stocks Seen Opening Higher; Markets Await Powell Speech

0751 GMT - The FTSE 100 is expected to open 44 points higher, according to IG, having closed on Tuesday at 7512.00, tracking gains in Asian stocks on hopes that China might backtrack on its zero Covid policy. "Hints that China would speed up the pace of vaccinations for the elderly gave new life to the hopes that this economy will reopen earlier than expected," IG analysts write. However, trade will likely be cautious ahead of a speech later by U.S. Federal Reserve Chair Jerome Powell as well as U.S. ADP jobs data. "Powell is once again expected to remind markets that more rate rises are coming...which could torpedo any risk rally for the end of the month," IG says. (jessica.fleetham@wsj.com)

Companies News: 

Marks & Spencer Buys Fashion Marketplace Thread's IP, The Times Reports

--Marks & Spencer Group PLC has bought the intellectual property of fashion marketplace Thread, which has recently gone into administration, The Times of London reports.

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Pennon Group 1H Pretax Profit Hit by Higher Costs

Pennon Group PLC on Wednesday reported a drop in pretax profit for the first half of fiscal 2023 as it reported higher costs and despite a rise in revenue.

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Loungers 1H Pretax Profit Slumped on Higher Costs

Loungers PLC said Wednesday that first-half pretax profit fell despite rising revenue as inflationary pressure led to increased costs.

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Impax Asset Management FY 2022 Pretax Profit Rose on Positive Net Inflows; Names New CFO

Impax Asset Management Group PLC said Wednesday that its fiscal 2022 profit and revenue rose significantly on positive net inflows, and named Karen Cockburn as its new chief financial officer.

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Future Posts Higher FY 2022 Pretax Profit, Revenue

Future PLC on Wednesday reported higher pretax profit and revenue for fiscal 2022, and said that it expects modest profit growth in the current fiscal year.

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Benchmark Holdings FY 2022 Loss Widened on Higher Costs

Benchmark Holdings PLC Wednesday reported a widened loss for fiscal 2022 on higher finance costs and depreciation charges, though revenue and adjusted earnings rose, and said it has started the new year well.

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Benchmark Holdings to Raise GBP13.2 Mln in Norwegian IPO

Benchmark Holdings PLC on Wednesday said that it plans to raise 13.2 million pounds ($15.8 million) via a private placing and retail offering on Euronext, Oslo.

 

Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

November 30, 2022 03:15 ET (08:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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