FTSE 100 Seen Opening Lower After UK Inflation Data

0636 GMT - The FTSE 100 is seen opening lower as investors react to higher-than-expected U.K. inflation data. IG futures data show the London index of blue-chip stocks opening down 12 points. U.K. inflation fell to an annual rate of 10.1% in March from 10.4% in February, above the 9.8% expected by analysts in a WSJ survey. Higher-than-forecast inflation, combined with sticky wage growth in Tuesday's U.K. labor market data, are "fueling the expectation that the Bank of England may not be done with its interest rate hikes just yet, and may opt for another 25 basis points hike and take the bank rate to 4.5% on May 11," Swissquote Bank analyst Ipek Ozkardeskaya writes. (renae.dyer@wsj.com) 


 
Companies News:

ConvaTec Buys Tech Platform From 30 Technology for Initial GBP45 Mln

ConvaTec Group PLC said Wednesday that it has bought the anti-infective nitric oxide technology platform of 30 Technology Ltd. for an initial 45 million pounds ($55.9 million) to explore application of the technology across business categories.

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Antofagasta 1Q Copper Production Fell On Quarter as Expected; Backs Guidance

Antofagasta PLC said Wednesday that copper production for the first three months of the year fell as expected, and backed guidance for copper production and capital expenditure in 2023.

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Hunting PLC 1Q Earnings Rose; Backs 2023 View

Hunting PLC said Wednesday that it booked higher earnings in the first quarter of 2023, and confirmed its full-year guidance.

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Liontrust Sees FY 2023 Revenue, Adjusted Pretax Profit Ahead of Views

Liontrust Asset Management PLC on Wednesday said it expects to report revenue and adjusted pretax profit ahead of market views for fiscal 2023 although it posted a fall in its assets under management and advice, or AuMA, over the fourth quarter.

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Cake Box Sees FY 2023 Revenue Increase on Better Trading, Less Costs

Cake Box Holdings PLC said Wednesday that it expects to report a revenue increase in fiscal 2023 and adjusted pretax profit in line with market expectations on the back of improved trading conditions and easing cost pressures.

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M Winkworth 2022 Profit, Revenue Slipped as Postlockdown Boost Fades

M Winkworth PLC said Wednesday that its 2022 pretax profit and revenue fell as a postlockdown surge in real-estate activity faded, and it expects the property market to perform at the higher end of expectations in 2023. 


 
Market Talk:

Just Eat Takeaway.com's Ebitda Development Encourages, But Growth Outlook Underwhelms

0634 GMT - Just Eat Takeaway.com's Ebitda development has been encouraging, but an underwhelming growth outlook and higher risk of disappointment are worries, RBC Capital Markets analysts Sherri Malek and Wassachon Udomsilpa say in a research note. The Amsterdam-headquartered food-delivery group's GTV was 7% below RBC's forecast, with Northern Europe and the U.K. and Ireland segments leading the recovery, they say. Management also suggested the company's delivery-led operational improvements are now ahead of plan, they point out. RBC Capital Markets has a sector-perform rating on the stock with a price target of EUR34.00. (kyle.morris@dowjones.com)

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Rio Tinto Iron-Ore Guidance Upgrade Already Looks Like a Possibility

0211 GMT - Rio Tinto is likely to be the standout among Australian iron-ore producers for the quarter ended March 31 compared with rivals BHP and Fortescue, as it continues to ramp up its new Gudai-Darri mine, UBS analysts say in a note. "Even though it is early in CY23, we see potential for Rio to lift its 2023 guidance to the 'upper half' of the 320-335 [million ton] range and push beyond," say the analysts. They estimate that Rio Tinto's shipments from Australia's Pilbara will rise about 13% on-year to 81 million metric tons. Rio Tinto is up 1.6% in Sydney at A$123.75. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

04-19-23 0256ET