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UPDATE 1-UK Stocks-Factors to watch on July 29

Stock MarketsJul 29, 2020 08:15
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© Reuters.

Britain's FTSE 100 index is seen opening 11 points lower at 6,118 on Wednesday, according to financial bookmakers, with futures (FFIc1) down 0.1%.

BARCLAYS: Barclays (LON:BARC) set aside a higher-than-expected 1.6 billion pounds to cover a possible rise in loan losses in the second quarter.

TAYLOR WIMPEY: Homebuilder Taylor Wimpey (TW.L) said it expects to complete around 40% fewer homes in 2020.

DIGNITY: Funeral services provider Dignity Plc (DTY.L) said profit in the first half of 2020 rose 11% as it conducted more funerals due to the COVID-19 pandemic.

SMITH+NEPHEW: Medical products maker Smith+Nephew (SN.L) posted a lower-than-expected first-half profit as patients and hospitals delayed elective surgeries.

NEXT: Next (NXT.L) said its full-price sales in the second quarter declined by 28%, a much better result than it expected at the height of the pandemic.

PREMIER FOODS: Premier Foods (PFD.L) said its second-quarter sales have seen a strong start but expects that to normalise through the quarter.

JUPITER FUND: Money manager Jupiter Fund Management (JUP.L) said its assets under management fell 8% over the first six months.

RIO TINTO: Miner Rio Tinto's (LON:RIO) first-half profit fell 4%, as coronavirus-driven disruptions spurred a drop in copper shipments.

ASTON MARTIN: Carmaker Aston Martin (AML.L) posted a first-half loss of 227 million pounds ($293 million).

WIZZ AIR: Low-cost carrier Wizz Air (WIZZ.L) said the aviation recovery would be like a roller coaster and that there was still too much uncertainty from the pandemic.

LANCASHIRE: Insurer Lancashire (LRE.L) posted a loss for the first half of the year.

DRAX: Power generator Drax (DRX.L) reported a 61 million pound ($79 million) loss before tax for the first half of 2020.

GSK: Sanofi and GSK GSK said they had reached an agreement with Britain to supply it with up to 60 million doses of a potential COVID-19 vaccine.

RETAIL: British retailers discounted their goods less in July than the month before, after consumer demand picked up in many sectors as coronavirus lockdown restrictions eased, data from the British Retail Consortium showed.

OFGEM: Britain's energy market regulator Ofgem proposed measures on Wednesday to tackle what it called unscrupulous energy brokers so small businesses could get fairer energy deals.

GOVERNMENT FUND: Britain has announced a 500 million-pound ($647 million) fund to help television and film companies restart productions after companies complained they were unable to get insurance because of the coronavirus pandemic.

OIL: Oil prices rose after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

The UK blue-chip index (.FTSE) closed up 0.4% on Tuesday, as investors hedged with defensive stocks ahead of some keenly awaited events such as a U.S. Federal Reserve meeting and a decision on a U.S. stimulus plan.

UK CORPORATE DIARY:

Taylor Wimpey (TW.L) HY Earnings Releases
Unite Group (UTG.L) HY Earnings Releases
Dignity (DTY.L) HY Earnings Releases
Jupiter Fund Management (JUP.L) HY Earnings Releases
Barclays (BARC.L) HY Earnings Releases
Smith & Nephew (SN.L) HY Earnings Releases
Next PLC (LON:NXT) Q2 Trading Statement
Tullow Oil (TLW.L) HY Trading Statement
Lancashire Holdings Ltd (LON:LRE) Q2 Earnings Releases
AVEVA Group (AVV.L) Q1 Trading Statement
Drax Group (LON:DRX) HY Earnings Releases
Weir Group (WEIR.L) HY Earnings Releases
Rio Tinto (RIO.L) HY Earnings Releases
Premier Foods (PFD.L) Q1 Trading Statement
GlaxoSmithKline (GSK.L) Q2 Earnings Releases

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

UPDATE 1-UK Stocks-Factors to watch on July 29
 

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