FTSE 100 edged higher, by 0.1% at 7.548,44 points, outperforming other European markets, helped by another strong session from AstraZeneca as it continues to build on the gains from yesterday’s acquisition of Icosavax. Betting company Entain was today’s top gainer after announcing its Chief Executive Jette Nygaard-Andersen is stepping down with immediate effect. “It’s been a cautious session for markets in Europe today with little in the way of direction ahead of tonight’s U.S. Federal Reserve rate decision, and tomorrow’s Bank of England and ECB rate decisions,” CMC Markets UK analyst Michael Hewson says in a comment.
COMPANIES NEWS:
Entain CEO Jette Nygaard-Andersen Steps Down
Entain said Wednesday that Chief Executive Officer Jette Nygaard-Andersen will step down from the group with immediate effect and be replaced by nonexecutive Director Stella David on an interim basis.
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ProCook Pretax Loss Narrows; Board Cautious on Pace of Market Recovery
Procook Group said its pretax loss narrowed for the first half of its fiscal year but that the board is still cautious about the timing and pace of market recovery because conditions continue to be volatile and challenging.
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Treatt Appoints Alison Sleight as Interim CFO
Treatt said that it has appointed Alison Sleight as an interim chief financial officer with effect from Jan. 1.
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Revolution Beauty Appoints Former Boohoo Finance Chief Neil Catto as CFO
Revolution Beauty said former Boohoo finance chief Neil Catto will replace current chief financial officer Elizabeth Lake, who has decided to stand down at the end of the year.
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Smartspace Software Considers Skedda Holding’s GBP25 Mln Takeover Bid
Smartspace Software said the board was considering Skedda Holding’s latest 25 million-pound ($31.4 million) takeover offer, having rejected a previous approach at a lower price.
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Impellam’s Shares Rise After It Agrees to GBP483 Mln Takeover
Shares in Impellam Group rose after the company agreed to a 483.2 million-pound ($607 million) takeover bid by Heather Global and HeadFirst Global.
MARKET TALK:
BOE Likely to Reiterate ‘Higher Rates-For-Longer’ Message At Thursday’s Meeting
1419 GMT – The Bank of England is expected to restate the message that interest rates will likely stay higher for longer at Thursday’s meeting, rather than signal possible rate cuts in 2024 as priced in by markets, Vantage market analyst Jamie Dutta says in a note. “A tightening bias is expected as the tone of the statement is likely to push back against the dovish rate cut bets which have been priced into the U.K. curve over the last few weeks,” Dutta says. Any rate cut signals from the BOE, although not expected, will likely to trigger selling in the pound, he says. ([email protected])
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(END) Dow Jones Newswires
December 13, 2023 12:43 ET (17:43 GMT)
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