Sterling Could Rise if UK Underlying Price Pressures Persist

0737 GMT - Data on Wednesday are expected to show a sharp fall in U.K. headline inflation in April due to lower energy prices but are unlikely to ease fears over underlying price pressures and that could support sterling, MUFG Bank says. "If underlying inflation pressures keep alive expectations for the Bank of England to deliver multiple further [interest rate] hikes it will offer support for the pound in the week ahead," MUFG currency analyst Lee Hardman says in a note. The main "downside risk" for the pound would be if underlying and food price inflation ease alongside an expected slump in energy price inflation, he says. GBP/USD falls 0.2% to 1.2433 and EUR/GBP trades flat at 0.8696. (renae.dyer@wsj.com)

COMPANIES NEWS:

Dechra Pharmaceuticals Sees FY 2023 Profit Below Market Views on Wholesaler Destocking

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UK Government Sells Shares Worth GBP1.26 Bln in NatWest Group

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Begbies Traynor Sees FY 2023 Revenue, Pretax Profit Ahead of Views

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Wise CFO Matthew Briers to Step Down

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Stelrad Group Year-To-Date Results Are in Line on Strong UK Volumes

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888 Holdings Sells Latvian Business Share for Up to GBP22 Mln

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Norman Broadbent Posts Rise in 1Q Revenue, Net Fee Income

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Siemens Gamesa to Sell Windar Renovables Stake to Bridgepoint

Siemens Energy is selling Siemens Gamesa's 32% stake in Spanish wind turbine-tower maker Windar Renovables to British investment company Bridgepoint, a spokesperson for the German energy company confirmed on Monday.

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Wincanton FY 2023 Pretax Profit Fell on Higher Costs; Backs FY 2024 Expectations

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Ilika Expects FY 2023 Earnings Loss to Widen Despite Revenue Rise

Ilika said Monday that it expects to report a rise in revenue for fiscal 2023, but that its earnings loss is seen to have widened.

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Venture Life Optimistic About 2023 Outlook; Sees Performance in Line With Views

Venture Life Group said Monday that the board was cautiously optimistic about the outlook for the year ahead and its ability to deliver full-year performance for 2023 in line with market expectations.

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Enwell Energy Unlikely to Publish 2022 Results by Deadline; Shares Fall

Shares in Enwell Energy dropped 16% on Monday after the group said it is unlikely to publish its audited results for 2022 by the deadline, and that its shares may be suspended pending their publication.

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Angle Names Jan Groen as New Chairman As Garth Selvey Retires

Angle on Monday appointed Jan Groen its chairman as Garth Selvey intends to retire from the role.

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Kainos FY 2023 Boosted by Robust Market Demand, High Customer Engagement

Kainos Group on Monday reported an 18% rise in pretax profit for fiscal 2023 on higher revenue due to robust underlying market demand and high levels of customer engagement.


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05-22-23 0402ET