FTSE 100 Seen Lower as U.S. Banking Fears Resurface

FTSE 100 Seen Opening Lower on Fresh US Banking Fears

0635 GMT - The FTSE 100 is expected to open lower amid fresh worries about the U.S. banking sector following downbeat results from First Republic Bank. IG futures data show London's top-tier stocks index opening down 25 points. First Republic shares slumped 22% in afterhours trading after saying deposits fell 41% in the first quarter. The Dow is seen opening 66 points lower following the results. "Revived bank worries apply further pressure on U.S. yields, as well," Swissquote Bank analyst Ipek Ozkardeskaya writes. "But lower yields will unlikely to boost appetite in equities, as the bank worries bring along the risk of a further credit tightening, which in return is fundamentally bad for business, earnings, earnings expectations, and hence the stock valuations."([e-mail])

 
Companies News: 

AB Foods Backs FY 2023 Views After 1H Sales Rose, Although Profit Fell

Associated British Foods PLC said Tuesday that adjusted operating profit for the first half of fiscal 2023 fell, but backed its full-year guidance amid robust sales growth and less volatile inflation, and raised its dividend payout.

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Travis Perkins 1Q Sales Fell On Challenging Market Conditions

Travis Perkins PLC said Tuesday that sales fell in the first quarter of 2023 due to challenging market conditions.

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Anglo American 1Q Production Rose 9% On Year; Backs 2023 Guidance

Anglo American PLC on Tuesday said its first-quarter production rose 9% compared with the same period the previous year driven by copper production at its new mine in Peru as well as improvements in its steelmaking coal and iron ore business operations.

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JD Sports Fashion Appoints Darren Shapland, Angela Luger as Nonexecutive Directors

JD Sports Fashion PLC said Tuesday that it has appointed Darren Shapland and Angela Luger as nonexecutive directors from June 1.

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Whitbread FY 2023 Pretax Profit Rose; Launches GBP300 Mln Buyback Program

Whitbread PLC said Tuesday that pretax profit rose for fiscal 2023, and that it was launching a 300 million pounds ($374.6 million) buyback.

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Jupiter Fund Management 1Q Assets Under Management Rose

Jupiter Fund Management PLC on Tuesday posted a rise in its assets under management over the first quarter of 2023 compared with the previous quarter, propped up by positive market movements performance.

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Loungers FY 2023 Revenue Reaches Record Level After 2H Like-For-Like Sales Rose

Loungers PLC said Tuesday that revenue for fiscal 2023 reached a record level after a 12% rise in like-for-like sales in the second half and a strong final 12 weeks of the year.

 
Market Talk: 

Fevertree Drinks Could Become a Bid Target

1221 ET - Fevertree Drinks looks like it could attract takeover interest, Panmure Gordon says, launching coverage of the mixer maker with a buy recommendation. "With its strong brand, cash generation, asset-light business model and share-price weakness, we believe Fevertree is an attractive acquisition target," Panmure analyst Alex Chatterton says in a note, adding that the brokerage believes the most likely acquirers of the company would be global spirit and beverage companies. "With margin recovery expected in FY24 and further market-share gain opportunities, we initiate coverage with a buy recommendation and a target price of 1615p." Shares drop 1% to 1282p. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

04-25-23 0254ET