The FTSE 100 closed 0.5% lower on Tuesday as a fall in equity markets quickly accelerated and pushed indexes deeper into negative territory. The specter of further acceleration in inflation amid rapidly rising energy prices, coupled with rising bond yields – indicative of the heightened prospect of tightening monetary conditions by major central banks – has prompted large-scale sales in stock markets around the world, said Chris Beauchamp, IG Group chief market analyst. noted. “Like yesterday, it was the highly valued growth stocks that suffered the brunt of the selloff as investors fear that weaker growth and a tighter policy environment will hurt these former stars, but overall, there are few safe havens on the stock markets this afternoon, â€said Mr. Beauchamp.

 
Companies News: 

DWF Group says year-to-date performance is in line with management views

DWF Group PLC said on Tuesday that its performance for the year to date is in line with management’s expectations.

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Carnival appoints Sture Myrmell President of Carnival UK, Marguerite Fitzgerald President of Carnival Australia, P&O Cruises Australia

Carnival PLC announced on Tuesday that Sture Myrmell has been appointed President of Carnival UK effective October 18, replacing Simon Palethorpe, and that Marguerite Fitzgerald will assume her role and chair Carnival Australia and P&O Cruises Australia effective January 10. .

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Osirium Technologies Reduced 1H pre-tax loss

Osirium Technologies PLC on Tuesday announced a reduced pre-tax loss for the first half of the year and said its positive momentum continued into the second half.

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The first property claims that performance remains consistent

First Property Group PLC said on Tuesday that performance remained in line with management’s expectations.

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Reduction of pre-tax loss of 1H ferroalloy resources; Positive over 2 hours

Ferro-Alloy Resources Ltd. on Tuesday announced a reduced pre-tax loss for the first half of the year due to higher prices, which were partly offset by lower production linked to Covid-19-related effects which have now been largely resolved.

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UK Commercial Property REIT Switched to 1H Pre-Tax Profit

UK Commercial Property REIT Ltd. said on Tuesday it had moved to pre-tax profit for the first half of the year and saw the positive impact of the economic recovery as lockdown measures were eased.

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Petershill Partners debuts in London with market cap of £ 4.0 billion

Petershill Partners said on Tuesday that its IPO on the London Stock Exchange would value the company at around 4.0 billion pounds ($ 5.48 billion).

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HeiQ 1H’s pre-tax profit fell due to lower revenues and higher costs; Fall in shares

Shares of HeiQ PLC fell 21% early in Tuesday after the company reported declining first-half profits due to squeezed sales and higher costs.

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Statkraft sells Scotland wind farm to Greencoat UK Wind for $ 165.8 million

STOCKHOLM – Statkraft said on Tuesday it had sold the Andershaw wind farm in Scotland to Greencoat UK Wind PLC for 121 million pounds ($ 165.8 million).

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Q3 IHS Markit Profits Decline, Revenue Increase

IHS Markit Ltd. said its profit for its most recent quarter fell as revenues from financial services, transportation, and consolidated markets and solutions increased.

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IDE Group in talks to sell its subsidiary for 250,000 GBP

IDE Group Holdings PLC said Tuesday it was in advanced talks to sell its wholly owned subsidiary, IDE Group Connect Ltd., for an expected consideration of 250,000 pounds ($ 342,475).

 
Market Talk: 

Carmignac seeks to invest in “European champions†with an international vocation

1239 GMT – Carmignac seeks to invest in European companies with an international outlook and “European champions,” said David Older, head of equities and member of the strategic investment committee, during a webinar outlining the outlook and strategy investment of Carmignac. The French asset manager is focused on “secular growth” and the stocks he favors are spread across sectors and are not country-specific, he says. Among the sole proprietorships Carmignac likes, he cites the luxury companies EssilorLuxottica and Hermes International, as well as the pharmaceutical company AstraZeneca and the airline Ryanair. He says 2021 has been “amazing” for profit growth globally and that from now on, growth is expected to return to “a more normalized level.”

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UK Fintech Lenders Should Get More Regulation, Barclays CEO Says

1233 GMT – Fintech startups providing credit in the UK will need new regulation as they grow, Barclays chief executive Jes Staley said on Tuesday at the Wall CEO’s council. Street Journal. Big UK banks like Barclays are required to prove that consumers can afford the credit they receive, an obligation fintechs don’t have, he said. “As they get worse, the affordability issue – providing credit to UK consumers – will become an issue for regulators and they will look at it, and I think the regulatory scope s ‘will expand and that will change the rules of the game. ”

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The euro falls against the pound sterling on the divergence of the ECB-BOE policies

1141 GMT – UBS Global Wealth Management expects the euro against the pound to fall to 0.83 by the first quarter of 2022 due to the more accommodating policy mix of the European Central Bank against the Bank of England. EUR / GBP rose 0.6% to a nearly one-week high at 0.8597, according to FactSet. The BOE meeting last Thursday placed the central bank “firmly in the camp of the G10 central banks who are preparing to hike rates by next year,” UBS analysts said. “Unlike its UK counterpart, the ECB is unlikely to hike rates in 2022 and has yet to announce that the pandemic emergency purchase program will end in March of next year.” This policy divergence will drive EUR / GBP lower, analysts say.

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Supermarket Income REIT considered to have more potential

10:40 GMT – Supermarket Income REIT’s performance continues to be driven by positive industry winds, with UK supermarket sales in the third quarter up 9% from 2019 and like-for-like revaluation growth of 8 , 5% in its investment portfolio, said Berenberg. The building trust’s £ 541.2million rollout for fiscal 2021 is impressive, and after year-end the company announced the acquisition of six more assets for a combined $ 113.1 million pounds sterling, according to the German brokerage house. While the trust acquisition rate is likely slowing down, as investor competition for core assets remains high, the company’s high-quality store portfolio, which has a lot of asset management potential, still has of value, says Berenberg. The brokerage is maintaining its buy rating and its target price of 135 pence on the stock.

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Rising electricity prices reflected in latest acquisition of Greencoat UK Wind

1017 GMT – Greencoat UK Wind’s acquisition of Andershaw’s wind farm for £ 121million appears to be a targeted acquisition which is almost business-like for the fund these days as it seeks to use existing relationships with utilities to find new assets for its portfolio, says RBC Capital Markets. The £ 3.5million per megawatt price is slightly higher than other similar acquisitions by UKW, but partly reflects the current environment of more positive electricity prices, according to RBC. With the fund saying its M&A pipeline remains healthy, another round of fundraising looks likely.

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British Land’s short-term risk has been reduced, but the future remains murky

1005 GMT – British Land’s upside and downside risks appear relatively balanced, although its path to structural growth remains uncertain, Citi said, upgrading its stock rating to neutral to sell. Real estate company less likely to face short-term office drawbacks as the shift to working from home takes longer than originally anticipated, and Citi continues to expect a slight recovery in value properties. “While these changes in our view remove some downside risks for now, the risks could quickly return, and even if they don’t, we don’t see significant structural growth in office property or retail, which means the stock could lack catalysts on the upside, â€Citi said. Citi has a target price of 526 pence. Shares fell 1.6% to 513.2 pence.

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Pennon 1H revenue has grown, but costs are expected to rise

0958 GMT – Pennon Group shares are down 4% after the UK water utility announced an increase in first-half revenue but forecast costs to rise. EBITDA remains in line with management expectations, with higher revenues offsetting rising costs, according to RBC Capital Markets. “Pennon continues to perform well in the UK water sector, given [return on regulatory equity] performance; however, we see the current premium of 34% compared to our FY22 [expected regulatory capital value] as a challenge on a fundamental basis. We maintain a sector performance recommendation, â€RBC analyst Alexander Wheeler

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

September 28, 2021 12:10 p.m. ET (4:10 p.m. GMT)

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