RE: I'm not expecting a "boom" today but progress being shown17 Mar 2022 07:59
Isesb market might be good today in general.
Alliance News) - Stock prices in London are seen opening higher on Thursday, tracking a rally in US and Asian equity markets, after the Federal Reserve, as expected, raised interest rates from historic lows.
In early company news, movie theatre operator Cineworld hailed its recovery prospects with audiences set to return to cinemas this year. Food delivery firm Deliveroo expects to become profitable in the near future. Transport firm National Express said it is a better suitor for Stagecoach than rival DWS.
IG futures indicate the FTSE 100 index will open 13.32 points higher at 7,305.00. The index closed up 115.98 points, or 1.6%, at 7,291.68 on Wednesday.
Cineworld said it delivered a resilient performance in challenging market conditions and that it was in a good position to benefit from the expected industry recovery.
The world's second largest cinema chain, behind US-based AMC, noted its results for 2021 include a period of temporary closures from January to April-May due to Covid-19 restrictions and a limited film slate.
Revenue more than doubled to USD1.80 billion in 2021 from USD852.3 million in 2020, and the company's pretax loss narrowed sharply to USD708.3 million from 2020's massive USD3.0 billion.
Turning to returns, Cineworld said dividends remain suspended as it continues to prioritise liquidity preservation during its recovery from the pandemic.
Looking ahead, Cineworld pointed to a gradual recovery of admissions and demand since re-opening, supported by strong retail sales and premium formats.
January and February of this year were hurt by Omicron and the lack of major movie releases, but Cineworld anticipates strong trading starting in March, with the new Batman release and supported by a strong and full film slate in 2022. These titles include, 'Fantastic Beasts: The Secrets of Dumbledore', 'Doctor Strange in the Multiverse of Madness', 'Thor: Love and Thunder', and 'Black Panther: Wakanda Forever'.