Pound's Gains Seen Held Back by Supply Chain Issues, Inflation Fears
October 14 2021 - 3:18AM
Dow Jones News
Pound's Gains Seen Held Back by UK Supply Chain Issues,
Inflation Fears
0745 GMT - Sterling's gains on speculation about an imminent
U.K. interest-rate rise are expected to be limited, reflecting
concerns about the nation's particularly severe supply chain
issues, labor shortages and high inflation, Commerzbank says. Many
of the supply shortages that the world is experiencing reflect
pent-up demand in the wake of coronavirus so are expected to be
temporary but this view doesn't apply to the U.K. due to Brexit,
Commerzbank's Ulrich Leuchtmann says. The U.K. also faces further
political and economic risks from its stubborn position in
post-Brexit negotiations, he says. "Those make a stronger sterling
impossible, despite rapid Bank of England rate hikes." GBP/USD
rises 0.3% to a two-week high of 1.3700, according to FactSet.
EUR/GBP falls 0.2% to 0.8473. (renae.dyer@wsj.com)
Companies News:
Dunelm Backs Profit Guidance on 1Q Sales Rise Despite
Supply-Chain Disruption
Dunelm Group PLC on Thursday said sales for the first quarter of
fiscal 2022 increased and that it expects full-year pretax profit
to be in line with market expectations.
---
Ashmore Group 1Q Assets Under Management Fell
Ashmore Group PLC said Thursday that assets under management for
the first quarter of fiscal 2022 declined by $3.1 billion due to a
negative investment performance of $2.1 billion and net outflows of
$1.0 billion.
---
Rank Group PLC Says 1Q Was in Line, Net Gaming Revenue
Jumped
Rank Group PLC said Thursday that the first quarter was in line
with its expectations, with a strong increase in like-for-like net
gaming revenue, and that it expects full-year revenue to rise.
---
Hays 1H Net Fees Rose 36%
Hays PLC said Thursday that its net fees grew 36% in the first
quarter of the fiscal year, which ended on Sept. 30.
---
Rathbone Brothers Funds Under Management and Administration Rose
11% in 9-Mos
Rathbone Brothers PLC said Thursday that its funds under
management and administration increased 11% in the first nine
months of 2021, with positive net organic inflows in the third
quarter.
---
Grainger FY 2021 Rental Growth Rose, Occupancy Rate Recovers
Grainger PLC said Thursday that it recorded total like-for-like
rental growth of 1.0% in fiscal 2021 and its occupancy rate has
recovered to pre-coronavirus pandemic levels.
---
Domino's Pizza Group 3Q Comparable Sales Were Up 8.8%, Expects
to Meet 2021 Views
Domino's Pizza Group PLC said Thursday that like-for-like sales
for the third quarter of the year rose 8.8% and that it expects to
meet full-year expectations.
---
Braemar Shipping Raises FY 2022 Underlying Earnings Guidance
Braemar Shipping Services PLC said Thursday that it expects its
underlying earnings for fiscal 2022 to be ahead of previous
expectations after a strong first-half performance.
---
QinetiQ's Says Technical, Supply Chain Issues Could Result in
Lowered Guidance
QinetiQ Group PLC said on Thursday that it was experiencing
technical and supply chain issues on a large program, and that if
this remained unmitigated it could result in a one-off writedown to
its short-term guidance.
---
Charles Stanley Group Funds Under Management and Administration
Edged Up 1.1% in 2Q
Charles Stanley Group PLC said Thursday that its funds under
management and administration increased 1.1% in the second quarter
of the fiscal year.
---
DiscoverIE Says 1H Performance Was Better Than Expected
DiscoverIE Group PLC said Thursday that its performance for the
first half of the financial year was ahead of internal
expectations.
---
National Express 3Q Revenue Rose to 83% of Pre-Pandemic
Levels
National Express Group PLC said Thursday that third-quarter
revenue reached 83% of the same period's in 2019 on a
constant-currency basis, compared with second-quarter revenue
reaching 76% of pre-pandemic levels, and backed its underlying
pretax profit expectations for 2021.
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
October 14, 2021 04:03 ET (08:03 GMT)
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