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UPDATE 1-UK Stocks-Factors to watch on Aug 26

Published 26/08/2020, 06:24
© Reuters.

Aug 26 (Reuters) - Britain's FTSE 100 index is seen opening 10 points higher at 6,047 on Wednesday, according to financial bookmakers, with futures FFIc1 seen up 0.07% ahead of cash market open.

Provident: Doorstep lender Provident Financial (PFG.L) sank to a loss in the first half of 2020 and suspended its interim dividend, as customers struggle to pay off their debts during the coronavirus crisis.

Copper: Copper prices rose on optimism over progress in U.S.-China trade talks and signs that researchers might be closer to a treatment for the coronavirus. 

Gold: Gold was little changed, as worries over global economic outlook offset pressure from signs of progress in U.S.-China trade negotiations, while investors await a speech from U.S. Federal Reserve Chairman Jerome Powell.

Oil: Brent crude oil prices rose, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S. trade talks.

The UK blue-chip index (.FTSE) closed lower on Tuesday, weighed down by miners and a stronger pound, while an unexpected drop in retail sales kept risk sentiment at bay.

UK corporate diary:

Provident Financial PLC (LON:PFG) Half Year results
Polymetal International PLC (LON:POLYP) Half Year results

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