UK pre-market stocks update – Inflation data, GSK, Cineworld, Playtech, 888

At 07:31GMT, FTSE 100 futures are trading lower by 0.2% at 7144.

In FX markets, GBP/USD is trading at 1.3243, EUR/GBP is trading at 0.8510. The US Dollar Index is down 0.1%.

Today’s calendar highlights include Fed interest rate decision, US retail sales, Empire State Manufacturing, Canadian CPI, US Crude Oil Inventories.

Data
UK CPI increased to an annual rate of 5.1% in November, above expectations of an increase to 4.7%. The rise is the highest since September 2011. Core CPI rose to 4.0% from 3.4% in October, the highest since 1992. The Office for National Statistics said average petrol prices were higher than ever seen, while clothing costs, food, second-hand cars, and increased tobacco duty all helped drive up inflation.

Stocks
GlaxoSmithKline (LON:GSK) – GSK and Sanofi (PA:SASY) announce positive preliminary booster data for their COVID-19 vaccine candidate and continuation of phase III trial per independent Monitoring Board recommendation. The Omicron variant was not circulating during the trial. Using sera from booster trial participants, testing is underway to establish the ability of the vaccine candidate to cross-neutralize against Omicron.

Bunzl (LON:BNZL) – 2021 underlying revenue expected to demonstrate high single digit growth against 2019. Group revenue in 2021 is expected to increase year-on-year by approximately 2% at actual exchange rates and by approximately 7% at constant exchange rates, with the impact of acquisitions being similar to underlying revenue growth, and a small negative impact from fewer trading days. Group adjusted operating margin is expected to be only slightly ahead of historical levels. Expects revenue in 2022 to be slightly higher than in 2021.

Cineworld (LON:CINE) – Lost claim in Ontario Superior Court against Cineplex. Cineplex has been awarded damages of CAD 1.23 billion for lost synergies to Cineplex and CAD 5.5 million for lost transaction costs. Cineworld disagrees with this judgment and will appeal the decision.

Currys (LON:CURY) – H1 group like-for-like revenue down 1%, total revenue down 2%. Adjusted profit before tax increased to £48 million. £75 million share buyback commencing in January, interim dividend of 1.00p declared. Mitigating impact of supply chain challenges but there has been some impact on product availability. Market demand has softened in the run-up to Christmas. Strong first half performance from a stronger business means company remains on track to meet expectations outlined last month for full year adjusted PBT of around £160 million.

Playtech (LON:PTEC) – Caliente Interactive, in which PLaytech owns a 49% stake, is reportedly in talks about a $2.5 billion merger with Tekkorp Digital.

Hammerson (LON:HMSO) – Has exchanged or completed sales of six non-core assets for total gross cash proceeds of £92 million since the half year.

888 Holdings (LON:888) – to sell its entire B2C and B2B bingo businesses to Saphalata Holdings, a member of the Broadway Gaming group. The consideration is $50 million on a cash-free debt-free basis, including a potential earnout of up to $4 million.

Drax Group (LON:DRX) – Appointed Worley Europe to begin a Front-End Engineering Design (FEED) study for its bioenergy with carbon capture and storage (BECCS) project at Drax Power Station.

TR Property Investment Trust (LON:TRY) – H1 net asset value per share up 13.5% to 474.34 pence. Interim dividend per share of 5.30 pence.

DCC (LON:DCC) – Completed the acquisition of Almo on 14th December for initial enterprise value of $610 million on a cash-free, debt-free basis.

Clarkson (LON:CKN) – Sir Bill Thomas intends to step down from role as Chair of the Board.

Baltic Classifieds Group (LON:BCG) – H1 organic revenue up 24% to €25.0 million. Adjusted EBITDA was up 23% to €19.6 million. Intention to propose first dividend payment at full year results in July 2022. Revenue growth across Automotive, Real Estate and Generalist is anticipated to be, in aggregate, in line with previous guidance. Jobs & Services revenue is likely to continue to be strong and significantly ahead of previous guidance.

Finsbury Growth & Income Trust (LON:FGT) – Net asset value per share up 8.4% to 917.7 pence. The total dividend declared for the year was 17.1p per share. An increase of 3% versus last year.

M&C Saatchi (LON:SAA) – Now believes full year 2021 operating profit will be materially ahead of expectations.