• FTSE 100 seen slightly higher
• Unilever (LON:ULVR) raises FY sales guidance
• easyJet (LON:EZJ) posts Q3 loss
7.30am: FTSE 100 seen opening slightly higher, Unilever raises FY sales guidance
FTSE 100 seen opening slightly higher following gains in the US after a choppy session across the pond.
Spread betting companies are calling the blue chip index around 15 points higher as the market also digests a hefty batch of company updates.
In the US, the DJIA closed 90.75 points higher at 31,990.04, while the S&P 500 rose 5.21 points to 3,966.84.
Consumer goods company Unilever’s CEO Alan Jope said the company was raising its sales guidance for the year as it reported solid 1H results.
Underlying sales grew 8.1% while turnover rose 14.9% to EUR29.6bn and underlying EPS by 1% to EUR1.34.
The company also announced plans to extend its share buyback scheme in Q3.
Jope commented “The challenges of inflation persist and the global macroeconomic outlook is uncertain, but we remain intensely focused on operational excellence and delivery in 2022 and beyond."
easyJet was also in focus reporting Q3 results to June 30th, 2022. The low cost airline provider reported a Q£ headline EBITDAR profit of £103m a hefty fall from Q3 2019 (£313m).
However, it said the headline loss before tax was £11m, including a £133m cost impact from disruption and a £36m loss from FX balance sheet revaluations.
Q4 is currently 71% booked, load factor slightly ahead of 2019 and sold ticket yield is 13% above FY19.
Commenting, Johan Lundgren, easyJet Chief Executive said:
"easyJet expects capacity to be c.90% of Q419 across our network of major European airports, with load factors targeted above 90%."
6.50am: FTSE 100 seen higher at open
FTSE 100 is expected to open higher as the torrent of FTSE 100 updates this week picks up speed.
Financial spread bet firms predict a gain of up to 20 points when Footsie opens, adding to the near 30-point rise on Monday.
Unilever and easyJet are the standouts among the reportees. Both have problems, many of them self-inflicted but it will be inflation in the form of the cost of raw materials and fuel that will set the tone (read more).
Overseas markets were mixed with the S&P up and Nasdaq down in the US and a similar pattern in Asia where Hong Kong is higher and Japan lower.