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UK Stocks-Factors to watch on May 29

Published 29/05/2020, 06:43
Updated 29/05/2020, 06:48
© Reuters.

May 29 (Reuters) - Britain's FTSE 100 index is seen opening 52 points lower on Friday, according to financial bookmakers.

* ECONOMY: British business confidence fell to its lowest since the 2008 financial crisis in May, according to a survey for Lloyds (LON:LLOY) Bank which contrasts with other surveys which have shown a small improvement since the initial shock of the coronavirus lockdown.

* AUTOMOBILE: British car production could slump this year to the lowest level in decades after the coronavirus pandemic forced factories to close and hit demand, according to an industry body.

* ASTRAZENECA: AstraZeneca's AZN.L top-selling drug Tagrisso has been shown to hold back a certain type of lung cancer when diagnosed at an early stage, the British drugmaker said on Thursday, potentially adding billions to its sales potential.

* NMC: Joint administrators for Dubai-based NMC Health said on Thursday that the most likely exit option for the company was either dissolution or liquidation.

* GOLD: Gold inched up and was on track for its second monthly gain as deteriorating U.S.-China ties in a world reeling from the coronavirus pandemic rattled investors and fuelled demand for the safe-haven metal.

* OIL: Oil prices edged lower after U.S. inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.

* UK shares ended higher on Thursday, helped by drugmakers AstraZeneca and GSK as markets looked for more progress in the development of a COVID-19 vaccine, while optimism over the reopening of the economy persisted.

UK CORPORATE DIARY:

SIG SHI.L FY 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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