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UPDATE 1-UK Stocks-Factors to watch on Aug. 18

Published 18/08/2020, 06:38
Updated 18/08/2020, 07:55
© Reuters.

Aug 18 (Reuters) - Britain's FTSE 100 index is seen opening open 10 points lower at 6,118 on Tuesday, according to financial bookmakers, with futures (FFIc1) down 0.62% ahead of cash markets open.

CAPITA: British outsourcer Capita Plc (CPI.L) posted a 28.5 million pound ($37.44 million) loss for the first half of 2020, as revenue took a hit due to the coronavirus crisis and said it would not generate sustainable cash flow for up to 2 years.

MARKS & SPENCER: British retailer Marks & Spencer said it plans to cut 7,000 jobs over the next three months as it streamlines the business for a post COVID-19 sales mix.

PERSIMMON: Housebuilder Persimmon (PSN.L) posted a plunge in first-half profit, as it sold fewer homes due to coronavirus-driven disruptions to construction activity and transactions, but "an excellent start to the second half" helped it reinstate dividend.

WOOD: Engineering and consultancy company Wood Plc reported a 20.6% fall in first-half core earnings as the coronavirus-driven oil price crash dealt a major blow to its global energy clients.

COMPASS: Compass Group named the former chief executive officer of Ferguson, Ian Meakins, as its non-executive chairman, replacing Paul Walsh who steps down in December.

BHP: BHP Group (BHPB.L) on Tuesday said it expected most major world economies except China to bear the brunt of a coronavirus-led downturn this year, reporting a 4% drop in annual profit that missed analysts' estimates.

GOLD: Gold prices extended gains to inch closer to the $2,000 mark on Tuesday as the dollar weakened, with traders also focusing on minutes from the U.S. Federal Reserve's last policy meeting set to release this week.

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OIL: Oil prices slipped on Tuesday, though they mostly held onto overnight gains after OPEC+ said the producer grouping is almost fully complying with output cuts to support prices amid a drop in demand for fuels due to the coronavirus pandemic.

METALS: Copper prices rose on Tuesday, as a weakening U.S. dollar made greenback-denominated metals more attractive to buyers using other currencies.

The UK blue-chip index (.FTSE) was up 0.8% on Monday as more stimulus in China powered mining stocks, while investors eyed a slate of economic data due later in the week to gauge the pace of a post-pandemic rebound.

UK CORPORATE DIARY:

Network International Holdings (NETW.L) Half Year 2020 Earnings
Mears Group PLC (LON:MERG) Half Year 2020 Earnings
Persimmon PLC (LON:PSN) Half Year 2020 Earnings
Capita PLC (LON:CPI) Half Year 2020 Earnings
Kaz Minerals PLC (KAZ.L) Half Year 2020 Earnings
TBC Bank Group PLC (LON:TBCG) Half Year 2020 Earnings
John Wood Group PLC (LON:WG) Half Year 2020 Earnings

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