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UPDATE 1-UK Stocks-Factors to watch on Sept. 24

Published 24/09/2020, 07:10
Updated 24/09/2020, 08:17
© Reuters.

Sept 24 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 50 points lower at 5,849 on Thursday, according to financial bookmakers, with futures down 1.21% ahead of cash market open.

Cineworld: British cinema operator Cineworld (CINE.L) swung to a loss and said it may have to raise additional liquidity if it is pushed to shut its theatres again from government curbs on social gathering.

Mitchells & Butlers: Mitchells & Butlers (MAB.L) said total sales for 51 weeks ended Sept. 19 fell 35%, due to store closures and sharp slump in demand amid widespread COVID-19 restrictions.

SIG: SIG Plc (SHI.L) posted a first-half loss of 53.7 million pounds due to the coronavirus hit to construction activity, but the building materials supplier said its 2020 revenue would be modestly higher than prior forecast.

Smiths Group: Smiths Group (SMIN.L) reported a 26% fall in annual operating profit due to higher costs and a hit from the COVID-19 pandemic, while the British engineering firm also said it would cut jobs as part of its restructuring plan.

Pets At Home: British pet supplies retailer Pets At Home (PETSP.L) said it expects full-year pretax profit to be materially above market estimates due to easing lockdown restrictions.

United Utilities: Water supplier United Utilities (UU.L) warned of lower first-half revenue due to lower consumption by businesses during the COVID-19 pandemic and allowed regulatory revenue changes.

Go-Ahead: UK transport operator Go-Ahead (GOG.L) posted profits for the 12-months to 27 June slightly ahead of its guidance, and said that after the pandemic it was starting to run 90% of its services again.

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AstraZeneca: AstraZeneca (AZN.L) said that it has no involvement in a planned clinical trial where volunteers would be given an experimental vaccine and then be deliberately infected with the new coronavirus, as reported by the Financial Times.

Tesco: There is no need for Britons to panic buy groceries after the government imposed new restrictions to stem a second wave of COVID-19, the boss of Tesco (TSCO.L), the UK's biggest supermarket chain, said on Wednesday.

Gold: Gold fell on Thursday to its lowest level in more than two months, crippled by a robust dollar, while investors fretted over uncertainties surrounding further stimulus measures to support a sluggish economic recovery in the United States.

Oil: Oil futures fell on Thursday on concerns the economic recovery in the United States, the world's biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in European cases led to new travel restrictions there.

The UK blue-chip index (.FTSE) closed up 1.2% on Wednesday, after Prime Minister Boris Johnson said the government had a "massive" package to protect jobs, offsetting concerns over new restrictions brought in to curb a resurgence in COVID-19 cases.

UK corporate diary:

Smiths Group Plc (SMIN.L) FY results
Go-Ahead Group Plc (GOG.L) FY results
Mitchells & Butlers Plc (MAB.L) Pre-close trading statement
Cineworld Group Plc (CINE.L) Interim Q2 results
DFS Furniture Plc (DFSD.L) FY results
United Utilities (UU.L) Pre-close trading statement
SIG Plc (SHI.L) HY results

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