UPDATE 1-UK Stocks-Factors to watch on July 28

UPDATE 1-UK Stocks-Factors to watch on July 28

Reuters  | Jul 28, 2020 08:33

UPDATE 1-UK Stocks-Factors to watch on July 28

July 28 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 16 points higher at 6,121 on Tuesday, according to financial bookmakers, with futures up 0.27% ahead of cash market open.

ASTRAZENECA: AstraZeneca Plc said its diabetes treatment Farxiga met the main goal in a late-stage trial testing the drug's effectiveness in treating patients with chronic kidney disease (CKD).

A.G. BARR: A.G. Barr Plc, best known for Scottish fizzy drink Irn-Bru, said it expected revenue to fall by up to 15% this year, while reporting a recovery in its hospitality and 'on the go' segments as coronavirus curbs eased in recent weeks.

VIRGIN MONEY: Britain's Virgin Money (LON:VM) reported a dip in customer lending in the quarter to end-June on Tuesday as demand for mortgages and personal loans fell, but it was yet to see any spike in credit losses linked to the COVID-19 pandemic.

MITIE: British outsourcer Mitie Group (MTO.L) reported an 11% fall in revenue in the first quarter, hit by the loss of a major contract and coronavirus-induced weakness in the engineering sector.

GREGGS: Greggs (GRG.L), the British food-to-go retailer known for its sausage rolls, bakes and sandwiches, said sales at it company-managed stores stood at 72% of the 2019 level in the most recent week as trading recovers from the COVID-19 lockdown.

RECKITT BENCKISER: Consumer products maker Reckitt Benckiser Plc (RB.L) reported better-than-expected quarterly results, as cautious customers stocked up on Lysol and Dettol disinfectants and Mucinex cough syrup during the COVID-19 pandemic.

ST. JAMES'S PLACE: British wealth manager St. James's Place (SJP.L) said a recovery in market sentiment after the coronavirus-led market sell-off boosted inflows in the first half of the year, while operating profit fell 10%.

HSBCHSBC aims to double the number of Black staff in senior roles by 2025, Chief Executive Noel Quinn said in an internal memo, as the bank attempts to take action against discrimination and create opportunities for advancement in the wake of the Black Lives Matter movement.

RIO TINTO: Rio Tinto Ltd said on Monday it discovered gold-rich deposits at its Winu project in Western Australia and indicated the potential for a major new copper and gold mine in the region.

GOLD: Gold jumped more than 1.5% to hit a record and marched towards the $2000 level on Tuesday, boosted by a weaker dollar and expectations of a long, dovish stance from the U.S. Federal Reserve as economic pain from the COVID-19 pandemic grows.

OIL: Oil prices rose for a third straight day on Tuesday, buoyed by support for demand coming from efforts to stimulate the U.S. economy's recovery from the coronavirus crisis and a weakening of the dollar that makes crude cheaper for global buyers.

The UK blue-chip index (.FTSE) closed down 0.3% on Monday, as miners (.FTNMX1770) rallied after gold prices scaled all-time highs, while copper prices also rose.

UK CORPORATE DIARY:

Virgin Money UK Plc (VMUK.L) Q3 trading statement
Moneysupermarket.com Group Plc (MONY.L) HY earnings release
Mitie Group Plc (MTO.L) Q1 trading update
Reckitt Benckiser Group Plc (RB.L) HY earnings release
St. James Place Plc (SJP.L) Q2 New business announcement
Card Factory Plc (CARDC.L) Strategy briefing
Elementis Plc (ELM.L) HY 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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