Trading On margin

BOE rate hike in 2021 seen as policy error, says Mizuho


BOE rate hike in 2021 seen as policy error

10:16 GMT – Silvana Tenreyro, rate fixer at the Bank of England, warned on Thursday that it would be “counterfeit” to raise interest rates to cope with a temporary rise in inflation. Mizuho says this view is probably shared by the majority in the Monetary Policy Committee, and says raising the best rate this year would be a policy mistake. “We believe the panic hike would prove to be counterproductive, and ultimately the MPC will likely end up coming up with a slower – but stronger – hiking path from February 2022 to 2025,” the Japanese bank said. During this period, the central bank is expected to raise the discount rate to 1.5% and undertake quantitative tightening, the statement said. ([email protected])

 
Companies News: 

Rio Tinto cuts 2021 projection for iron ore shipments and copper production

Rio Tinto said it plans to ship less iron ore than expected from its Australian mining operations this year due to project delays caused by labor shortages in the west of the country.

Pearson sees 2021 in line with market views

Pearson PLC said on Friday it made good strategic progress in the first nine months of the year, and that this was in line with market consensus on adjusted operating income for the full year.

Hargreaves Lansdown 1Q 2022 Assets under administration Rose

Hargreaves Lansdown PLC said on Friday that assets under administration increased in the first quarter of fiscal 2022 and its customer retention rate remained strong at 93%.

Iofina says iodine production remains on plan

Iofina PLC said on Friday it remains on track to meet its second-half crystalline iodine production target of 260 to 275 metric tons.

Sunbed sales have increased since the indoor trade began

Loungers PLC said on Friday that its like-for-like sales increased 27% in the 20 weeks to October 3, compared to the period a year earlier, and that its performance since May 17, the start of trading. theatrically in the UK, has been maintained.

K3 Capital says fiscal 2022 performance remains in line with market views

K3 Capital Group PLC said on Friday that its performance remained in line with market expectations and that it would post higher than expected income and profits for the fiscal year ended May 31 after an accounting review.

Mediclinic International announces 1 hour turnover and increased EBITDA margin

Mediclinic International PLC said on Friday that its revenue increased in the first half of fiscal 2022 and that its EBITDA margin improved significantly.

CPPGroup expects fiscal 2021 performance to meet market expectations

CPPGroup PLC said on Friday that it was confident that its performance would be in line with market expectations for the year 2021 thanks to the resumption of its operations in India.

Hostmore will float in London on November 2

Hostmore PLC said on Friday that it expects its shares to be listed on the London Stock Exchange on November 2, following its separation from Electra Private Equity PLC.

Compass Group establishes series of net-zero commitments

Compass Group PLC said on Friday it is committed to achieving carbon neutrality in its own operations by 2030 and net zero greenhouse gas emissions across all of its operations and value chain. by 2050.

 
Market Talk: 

Tesco Eurobonds Look ‘Expensive’

10:59 a.m. GMT – Tesco’s better-than-expected half-year results are already embedded in the euro-denominated bonds of the UK’s largest retailer, according to LBBW. “Spreads on outstanding euro bonds have already narrowed to reflect strong operating performance,” the German bank said, adding that they are currently trading in line with BBB-rated bonds and below the curve. corresponding BBB-rated debt market, the lowest rating band in the investment grade to Tesco’s current credit rating. “As such, they appear to be relatively expensive at the moment, and we believe they are currently only of interest to risk-conscious investors,” the bank said. Tesco’s half-year revenue grew 5.9%, while adjusted operating profit rose 40.6%. ([email protected])

Green Light Actions Go Further In Travel, Says RBC

1023 GMT – Shares of Go-Ahead Group rise 3% to 816 pence after RBC Capital Markets upgraded the UK bus and train company to outperform the sector. is losing its Southeast rail franchise and is down 45% from the 2021 peak in April, RBC says. Still, RBC says Southeastern accounted for just 3% of its assessment of the enterprise value of Go-Ahead and rail overall, 6%. As RBC cuts its price target to 1,030 pence from 1,230 pence, the brokerage says stocks could exceed its new target. ([email protected])

Rathbones funds under management set to exceed £ 65bn in 2021

1004 GMT – Rathbone Brothers sees continued growth in funds under management and administration, Jefferies said as she raises her forecast and valuation for the wealth management company. The US bank now expects Rathbones to hit £ 65.8bn FUMA in 2021 and £ 69.8bn in 2022, an improvement of around 9.5% from its previous projections. The underlying profit before tax estimate for 2021 increases by a similar amount and 3.9% for 2022, reflecting the squeeze in operating margin, as already guided. Jefferies raises the target price to 2,175 pence from 2,075 pence and reaffirms a buy note on the company FTSE 250. ([email protected])

Hochschild’s new Canadian project shows development potential

09:29 GMT – Hochschild Mining’s Snip gold project in Canada has a good chance of being developed into a mine, given the existing infrastructure and the high-grade resource already announced, Peel Hunt said. However, and despite minimal short-term financial commitments, investors should be aware of potential capital expenditure commitments of up to C $ 100 million by Hochschild, which could potentially be charged in 2023 and 2024, according to the brokerage. The company announced today that it has exercised an option on Snip which gives it the right to acquire a 60% stake in the project. Shares of miner FTSE 250 fell 1.5% to 143.1 pence.

 

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

(END) Dow Jones Newswires

October 15, 2021 07:14 ET (11:14 GMT)

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


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