UK market update – Unemployment rate falls, BT gets new chair

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imageStock Markets12 hours ago (Aug 17, 2021 08:35)

© Reuters.

By Samuel Indyk

Investing.com – At 08:32BST, the FTSE 100 is trading lower by 0.25% at 7,136. The midcap FTSE 250 is trading lower by 0.4% at 23,615.

In FX markets, GBP/USD is trading at 1.3809, EUR/GBP is trading at 0.8524. The US Dollar Index is +0.1%.

Today’s calendar highlights include US retail sales and industrial production.

Data

UK unemployment rate falls to 4.7% in June. Employment increased by 95,000 versus consensus of 75,000. Number of people on the payroll has regained about four fifths of the fall seen at the start of the pandemic. Number of job vacancies passed one million for the first time ever in July. Average earnings ex-bonus rose 7.4%, in line with expectations.

Stocks

BT Group (LON:BT) – Adam Crozier to succeed Jan du Plessis as Chairman. Crozier to step down as Asos Chairman before taking the role.

BHP Group (LON:BHPB) – Entered merger commitment deed to combine their respective oil & gas portfolios by an all-stock merger. Separately, BHP said FY profit from operations increased 80% to $25.9 billion. To pay final dividend of $2.00 per share or $10.1 billion.

Just Eat Takeaway (LON:JETJ) – H1 revenue up 52% to €2.6 billion. Says has reached the peak of its absolute losses in the first half of 2021. Management reiterates its guidance for order growth, gross transaction value and adjusted EBITDA margin for the full year 2021.

Plus500 (LON:PLUSP) – H1 group revenue of $346.2 million (H1 2020: $564.2 million; H2 2020: $308.3 million). Declares interim dividend of $0.5921 per share and share buyback of $12.6 million. Board expects revenue to be significantly ahead of current compiled analysts’ consensus forecasts, with sustainable growth to be delivered over the medium to long term.

Genuit (LON:GENG) – H1 revenue 32.4% higher than H1 2019, reflecting continued strong trading and the benefit of acquisitions. Plans interim dividend of 4.0 pence per share. Expects underlying operating profit for the full year to be ahead of previous management expectations.

Syncona (LON:SYNCS) – Continued positive clinical progress across companies over the period. Companies executing on their business and clinical plans and continue to seek a wide range of new opportunities.

UK market update – Unemployment rate falls, BT gets new chair

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