UPDATE 1-UK Stocks-Factors to watch on Oct 7

UPDATE 1-UK Stocks-Factors to watch on Oct 7

Reuters  | Oct 07, 2020 06:51

UPDATE 1-UK Stocks-Factors to watch on Oct 7

Oct 7 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 16 points lower at 5,934 on Wednesday, according to financial bookmakers, with futures down 0.03% ahead of cash market open.

Tesco: Tesco (TSCO.L), Britain's biggest retailer by sales, reported a 15.6% fall in core profit, with a jump in sales due to the COVID-19 pandemic more than outweighed by higher costs and losses at Tesco Bank.

TUI: Tour operator TUI (TUIT.L) named Sebastian Ebel as its new finance chief, replacing Birgit Conix, as part of a management board reshuffle.

G4S: British private security company G4S (CSE:G4S) (GFS.L) once again rejected smaller Canadian rival GardaWorld's offer and dismissed claims made by the hostile bidders in a pitch to shareholders as misleading.

Kaz Minerals: London-listed miner Kaz Minerals (KAZ.L) has suspended production at its Bozymchak copper and gold mine in Kyrgyzstan, the company said on Tuesday, amid post-election unrest in the Central Asian nation.

Virgin Money: British lender Virgin Money (LON:VM) (VMUK.L) is cutting up to 400 jobs, as it presses ahead with cutbacks after shelving restructuring plans early in the pandemic.

Oil: Oil prices fell after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude inventories.

Gold: Gold prices edged up, after hitting a one-week low in early trade, lifted by renewed fears over economic recovery and uncertainty around the U.S. presidential election after Trump's COVID-19 diagnosis.

The UK blue-chip index (.FTSE) ended flat on Tuesday as a stronger pound pressured the export-heavy index.

UK corporate diary:

Tesco Plc (TSCO.L) HY results

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