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UPDATE 1-UK Stocks-Factors to watch on July 2

Published 02/07/2020, 06:29
Updated 02/07/2020, 08:13
© Reuters.

July 2 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 30 points higher on Thursday, according to financial bookmakers, with futures (FFIc1) up 1% ahead of the cash market open.

DS SMITH: DS Smith (SMDS.L) reported a 5% rise in annual profit, bolstered by growing demand from e-commerce and consumer goods customers.

MEGGITT: British engineering company Meggitt (MGGT.L) on Thursday forecast an about 15% drop in first-half organic revenue as demand from planemakers dried up.

PREMIER OIL: Premier Oil (PMO.L) said it will not acquire the additional 25% interest in the Tolmount gas project from South Korea's Dana Petroleum.

MITCHELLS & BUTLERS: Britain's Mitchells & Butlers MAB.L posted a first-half loss as pubs were shuttered during the lockdown.

AB Foods: Associated British Foods (ABF.L) said that trading in its Primark fashion stores that have reopened after coronavirus lockdown has been "reassuring and encouraging".

ROYAL MAIL: Royal Mail (RMG.L) and its largest labour union have agreed to start talks to settle a long-running dispute over pay and operational changes, the former British postal monopoly said on Wednesday.

BP : BP Plc (BP.L) said it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy.

VACCINE: A leading scientist behind the University of Oxford's potential COVID-19 vaccine said on Wednesday the team has seen the right sort of immune response in trials but declined to give a firm timeframe for when it could be ready.

EU/TRADE: Britain will reopen its temporary market access regime for European Union financial firms in September to tide companies over during London's parting of ways with the bloc, the Financial Conduct Authority said on Wednesday.

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GOLD: Gold edged lower as solid U.S. manufacturing data and promising results from a COVID-19 vaccine trial revived hopes for a quick economic recovery, denting demand for safe havens.

OIL: Oil prices rose reversing early losses, as a sharp drop in oil stockpiles outweighed concerns that a spike in U.S. coronavirus infections and revived lockdown measures in California could stall a recovery in fuel demand.

London's mid-cap index ended higher on Wednesday on hopes of a potential COVID-19 vaccine, while optimism over fresh stimulus and a pickup in economic activity in the second half of the year persisted.

UK CORPORATE DIARY:

DS Smith (SMDS.L) FY results
Meggitt (MGGT.L) Trading statement
Associated British Foods (ABF.L) Q3 Trading statement
Mitchells & Butlers (MAB.L) HY results

* For more on the factors affecting European stocks, please click on: LIVE/

TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB

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