BOE sees rates rise in February after UK inflation data
0822 GMT – Wednesday’s stronger-than-expected UK inflation data is likely to encourage the Bank of England to raise interest rates for a second consecutive meeting in February, but any further rate hikes will be gradual, according to ING. “With inflation rates set to dip in 2023 and the prospect of a severe wage-price spiral looking less likely, subsequent moves are likely to be more gradual,” said ING economist James Smith. ING expects two rate hikes this year. Data showed UK consumer prices rose 5.4% year-on-year in December – the highest since March 1992 – after rising 5.1% in November and well above the BOE’s 2% target. Economists in a WSJ survey expected a 5.2% rise. ([email protected])
GlaxoSmithKline appoints Tony Wood Designated CSO
GlaxoSmithKline PLC announced on Wednesday that it has appointed Tony Wood as chief scientific officer from August, replacing Hal Barron, who will become non-executive director.
Smith & Nephew buys Engage Surgical for up to $135 million
Smith & Nephew PLC announced on Wednesday that it has acquired Engage Surgical for up to $135 million, subject to sales performance.
Burberry Q3 comparable retail sales rose ahead of market views
Burberry Group PLC said on Wednesday retail revenue and same-store sales increased in the third quarter of fiscal 2022, with new customers driving double-digit full-price sales growth across all of its product categories.
Antofagasta expects higher costs in 2022; 2021 results in line with forecasts
Antofagasta PLC warned on Wednesday that its operational costs would rise this year and said production for 2021 was in line with its forecast.
Experian Chief Operating Officer Kerry Williams Retires; Craig Boundy named
Experian PLC said on Wednesday chief operating officer Kerry Williams planned to retire after 19 years with the company and would be replaced by Craig Boundy.
Wise third-quarter revenue increased 34%
Wise PLC said on Wednesday its revenue increased 34% in the third quarter of the financial year.
Pearson expects higher sales and adjusted operating profit in 2021
Pearson PLC said Wednesday it expects to report increased sales and adjusted operating profit for 2021.
JD Wetherspoon to report 1H loss due to coronavirus restrictions
JD Wetherspoon PLC said on Wednesday that sales in the second quarter of fiscal 2022 were affected by coronavirus restrictions and would be loss-making in the first half.
Christie Group sees 2021 operating profit significantly above market expectations
Christie Group PLC said on Wednesday it expects to report operating profit for 2021 significantly above current market expectations.
WH Smith says year-to-date revenue is 85% of pre-pandemic levels
WH Smith PLC said on Wednesday revenue for the 20 weeks to Saturday was at 85% of 2019 revenue levels, with its high street or brick and mortar retail business in a stronger position than its travel division due to the Covid-19 Omicron Variant.
Burberry Q3 Comparable Retail Sales Rise Ahead of Market Views – Update
Burberry Group PLC said on Wednesday retail revenue and same-store sales increased in the third quarter of fiscal 2022, with new customers driving double-digit full-price sales growth across all of its product categories over a two-year basis.
Liontrust 3Q assets under management increased
Liontrust Asset Management PLC said on Wednesday that assets under management and advice for the third quarter of financial year 2022 increased by 20% compared to the previous year.
UK annual inflation could hit 7% in April
0817 GMT – The UK’s inflation rate is expected to rise further in the coming months, to 7% in April from 5.4% in December, said UK chief economist at Capital Economics Paul Dales. Increases in producer prices have not yet fully passed through to consumer prices, and soaring energy prices could lead to higher utility bills in April, he says. An inflation rate of 7% would be higher than the 6% peak the Bank of England forecast when it raised interest rates in December, so another rate hike is expected in February, Dales said. Capital Economics expects inflation to stay above 4% all year and fall to the BoE’s 2% target in April 2023. ([email protected])
Burberry’s third-quarter sales seem to back up market views
0804 GMT – Burberry’s third-quarter full retail price growth demonstrates healthy momentum and implies a high single-digit slowdown in shrink reduction, according to RBC Capital Markets. The British luxury goods company’s comparable retail sales in the third quarter were slightly better than expected, Canadian banknotes. “Overall, we expect these results to support Burberry’s current expectations, with continued progress in the full pricing channel. We do not expect to see substantial consensus earnings revisions,” RBC adds. ([email protected]; @sabelaojeaguix)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswire; [email protected]
(END) Dow Jones Newswire
January 19, 2022 03:51 ET (08:51 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.