The food-packing business's sales for the year to date are ahead of the prior year driven by raw material prices increases, with the full-year ownership of Foppen having a positive effect, the analysts say. The company's 20% to 25% rent reduction on 10% of leases, combined with customer base expansion, is likely to provide certain pressures relief, the analysts say. The stock market reaction--with shares trading down 17% at 80 pence at midday--has been far too harsh, they say. (elena.vardon@wsj.com)---UK Gilt Yields Rise as Government Borrowing Grows1100 GMT - UK gilt prices fall, causing yields to rise, on expectations of more gilt supply as the latest U.K. public finances data released on Tuesday showed a sharp increase in April government borrowing. Looking ahead to fiscal 2024, price progression is expected to decelerate, offset by volume recovery, the analysts say.

Source: Wall Street Journal May 23, 2023 19:25 UTC