UPDATE 1-UK Stocks-Factors to watch on July 22

UPDATE 1-UK Stocks-Factors to watch on July 22

Reuters  | Jul 22, 2020 09:07

UPDATE 1-UK Stocks-Factors to watch on July 22

Britain's FTSE 100 (.FTSE) index is seen opening 1 point lower at 6,268 on Wednesday, according to financial bookmakers, with futures (FFIc1) down 0.2% ahead of cash markets open.

ANTOFAGASTA: Chilean miner Antofagasta maintained its copper production and cost targets for the year as it reported lower second-quarter output.

KINGFISHER: Home improvement retailer Kingfisher (KGF.L) forecast first half underlying profit ahead of last year after strong second quarter trading.

STAGECOACH: British transport company Stagecoach (SGC.L) said it was difficult to forecast future profitability after its earnings per share fell 39% in its 2019-2020 financial year.

BRITVIC: British soft drinks maker Britvic (BVIC.L) posted lower third-quarter revenue, as fewer people drank its beverages in public places due to the coronavirus-induced lockdowns.

MELROSE: Turnaround specialist Melrose Industries (MRON.L) signalled it could lay off an unspecified number of employees as the company trims costs to cope with the coronavirus-led downturn.

AVIATION: Britain is working on additional measures to help an aviation sector battered by the COVID-19 pandemic, Transport Secretary Grant Shapps said.

UNIVERSITY OF OXFORD: The University of Oxford's possible COVID-19 vaccine could be rolled out by the end of the year but there is no certainty, the lead developer of the vaccine said on Tuesday.

SHELL: Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria.

RBS: Royal Bank of Scotland has hired climate change expert Nicholas Stern to help shape its sustainability strategy as the state-backed lender prepares to rebrand as NatWest Group.

OIL: Oil prices fell on Wednesday as industry data showed a bigger-than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world's biggest oil consumer.

GOLD: Gold jumped more than 1% on Wednesday to its highest in nearly nine years, driven by a weaker dollar and as expectations of more stimulus to resuscitate pandemic-hit economies lifted the metal's appeal as an inflation-hedge.

The UK blue-chip index (.FTSE) closed 0.1% higher, as gains in energy were offset by drugmaker AstraZeneca. The stock retreated from life-time highs after the lead developer of its vaccine expressed caution over when the vaccine could be rolled out.

UK CORPORATE DIARY:

Britvic Plc (BVIC.L) Q3 trading statement
Antofagasta Plc (ANTO.L) Q2 production report
PayPoint Plc (PAYP.L) Q1 trading statement
St. Modwen Properties Plc (SMP.L) HY earnings release
Stagecoach Group Plc (SGC.L) FY earnings release

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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