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UPDATE 1-UK Stocks-Factors to watch on Sept 8

Stock Markets Sep 08, 2020 08:17
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Sept 8 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 5 points higher at 5,942 on Tuesday, according to financial bookmakers, with futures (FFIc1) seen up 0.4% ahead of cash market open.

Royal Mail : Royal Mail (RMG.L) raised its revenue target for the current year, driven by a jump in online shopping parcel volumes.

International Personal Finance: International Personal Finance (IPF.L) said there is a "material uncertainty" around its ability to continue as a going concern after posting a loss and given the upcoming maturity of a eurobond.

Travis Perkins : Travis Perkins (TPK.L) said first-half adjusted operating profit plunged 80.9% as it delivered fewer products amid coronovirus-driven building site closures earlier in the year.

JD Sports: JD Sports (JD.L) reinstated its annual guidance saying it was encouraged by its performance since stores reopened.

McBride: McBride Plc (MCB.L) reported a 32% slump in full-year profit, as the cleaning products maker dealt with a drop in demand for its laundry products.

Halfords: Halfords (HFD.L) said underlying sales of cycling goods surged 59.1% in the 20 weeks to Aug. 21, as people continued to shy away from public transport during the coronavirus pandemic.

Meggitt : British aerospace supplier Meggitt (MGGT.L) said it would not pay an interim dividend to preserve cash to weather the coronavirus crisis.

Borsa Italiana: Bidders for Italian stock market Borsa Italiana have valued it at between 3.3 and 3.7 billion euros, Italian daily MF wrote, citing market sources.

Brexit: Britain's trade talks with the European Union would be rendered "null and void" if the Brexit withdrawal agreement it signed up to is not implemented in full, Irish Prime Minister Micheal Martin was quoted as saying on Tuesday.

IAG: Willie Walsh will pass the controls of IAG (ICAG.L) to Luis Gallego at the British Airways and Iberia owner's annual meeting on Tuesday, where shareholders will be asked to stump up billions of euros to help it through the coronavirus crisis.

Oil: Oil prices fell on Tuesday amid concerns that a possible rise in COVID-19 cases following the U.S. Labor Day long weekend, which also marks the end of the peak U.S. driving season, could squeeze demand for fuel.

Gold: Gold prices slipped on Tuesday, weighed down by a stronger U.S. dollar, but the safe-haven metal's decline was limited by growing fears over the global economic recovery from the coronavirus crisis.

The UK blue-chip index (.FTSE) ended 2.4% on Monday as Astrazeneca (LON:AZN) and GlaxoSmithKline rose on news about their respective COVID-19 vaccines, while a weaker pound helped exporters.

UK corporate diary:

Digitalbox Plc (DBOX.L) HY results
Fevertree Drinks Plc (FEVR.L) HY results
Midwich Group Plc (MIDWM.L) HY results
Ashtead Group Plc (AHT.L) Q1 earnings release
Travis Perkins (TPK.L) HY results
Gaming Realms Plc (GMRG.L) HY results
McBride Plc (MCB.L) FY results
JD Sports Fashion Plc (JD.L) HY results
International Personal Finance (IPF.L) HY results
Signature Aviation (SIGSI.L) HY results
Meggitt Plc (MGGT.L) HY results
Halfords Group Plc (HFD.L) Q1 trading statement
Gamma Communications (GAMA.L) HY results

UPDATE 1-UK Stocks-Factors to watch on Sept 8
 

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