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

Published 28/08/2020, 06:53
Updated 28/08/2020, 06:59
© Reuters.

Aug 28 (Reuters) - Britain's FTSE 100 index is seen opening higher on Friday, with futures (FFIc1) up 0.5%.

Amigo : Amigo Holdings (AMGO.L) reported an 83% fall in first-quarter profit and 32% drop in revenue as payment holidays granted to customers affected by the coronavirus pandemic and a halt on almost all new lending hammered its returns.

M&S: Marks & Spencer (LON:MKS) (M&S) will make the first deliveries through its new online food shopping joint venture on Tuesday, a cornerstone of its latest attempt to turn the company around and offset problems at its pandemic-hit clothing business.

Gatwick Airport: Gatwick Airport, Britain's no.2 airport, said the pandemic had pushed it to a 321 million pound loss in the first six months of 2020 on passenger numbers which collapsed 66%.

COVID-19: Britain said it will back three nationwide COVID-19 studies with 8.4 million pounds ($11 million) to fund research into understanding human immune responses to the coronavirus.

Business confidence: British business confidence has ticked up but remains far below usual levels as the economy struggles to cope with social distancing and employers are preparing to cut jobs, a survey showed.

Shell: Royal Dutch Shell Plc (RDSa.L) on Thursday said there were only minimal operational impact at its 318,000-barrel-per-day Deer Park, Texas facility due to Hurricane Laura.

Metals: Copper rose after the U.S. Federal Reserve said it would promote higher inflation, a move that could weaken the dollar and make greenback-priced commodities more attractive.

Oil: Oil prices fell as a massive storm raced inland past the heart of the U.S. oil industry in Louisiana and Texas without causing any widespread damage to refineries.

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London stocks ended Thursday on the back foot as earnings updates from firms like Rolls-Royce (LON:RR) underlined the extent of corporate damage inflicted by the coronavirus pandemic, while Federal Reserve Chief Jerome Powell's speech brought few surprises.

UK corporate diary:

Essentra Plc ESNT.L HY results

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