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UPDATE 1-UK Stocks-Factors to watch on Aug. 3

Stock MarketsAug 03, 2020 08:16
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Aug 3 (Reuters) - Britain's FTSE 100 index is seen opening 23 points higher at 5,921 on Monday, according to financial bookmakers, with futures (FFIc1) down 0.3% ahead of cash markets open.

HSBC: HSBC Holdings PLC (LON:HSBA) warned its bad debt charges could blow past a previous estimate to $13 billion this year and said its profits more than halved.

SENIOR: British aerospace supplier Senior Plc (SNR.L) swung to a loss in the first half of 2020 and shelved its interim dividend as costs rose and its sales were hammered by coronavirus-driven cuts across the air industry and other manufacturing partners.

HISCOX: Lloyd's of London insurer Hiscox (HSX.L) swung to a first-half loss, as it set aside $232 million for claims stemming from the coronavirus crisis.

HAMMERSON: British mall operator Hammerson (HMSO.L) said it was in advanced talks to sell its 50% stake in joint venture VIA Outlets to its partner APG and was considering a rights issue to raise cash.

TUI: Holiday company TUI said it had agreed with BOC Aviation a sale and leaseback deal for five new Boeing 737 MAX-8 aircraft, raising $226 million to help boost its finances.

METRO BANKMetro Bank has agreed to buy peer-to-peer lender RateSetter for an initial payment of 2.5 million pounds ($3.27 million).

NON-STANDARD FINANCE: Non-Standard Finance PLC said that the Financial Conduct Authority (FCA) had raised a number of concerns about its guarantor loans division.

RIO TINTO: Global miner Rio Tinto said it has initiated proceedings against a unit of engineering contractor Monadelphous Group over a fire that occurred last year at its iron ore processing facility.

SHELL: Royal Dutch Shell's Australia unit said it will buy environmental services firm Select Carbon.

HAMMERSON: Britain's Hammerson (HMSO.L) plans to raise some 800 million pounds ($1.1 billion) from a rights issue and the sale of its 50% stake in VIA Outlets, Sky news reported on Saturday.

BRITISH AIRWAYS: British Airways pilots have accepted a deal that will temporarily cut pay by 20% and eliminate more than 200 jobs, the pilots' union said on Friday.

RYANAIR: Ryanair has initiated legal proceedings against Ireland, questioning the legality of travel restrictions that have kept a quarantine policy in place for all but 15 countries.

OIL: Oil prices fell on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in fuel demand.

GOLD: Gold prices surged to an all-time high as fears over an economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the U.S. dollar.

The UK blue-chip index (.FTSE) ended down 1.5% on Friday, after Britain postponed the easing of a coronavirus-induced lockdown as cases surged, raising fears that a nascent economic recovery may reverse.

UK CORPORATE DIARY:

Senior PLC (LON:SNR) HY Earnings Releases
Purplebricks Group PLC (LON:PURP) FY Results
Hiscox Holdings Plc (HSX.L) Q2 results

UPDATE 1-UK Stocks-Factors to watch on Aug. 3
 

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