UK Stocks-Factors to watch on March 20

  • Reuters
  • Stock Market News
UK Stocks-Factors to watch on March 20
Credit: © Reuters.

March 20 (Reuters) - Britain's FTSE 100 index is seen opening 27 points higher on Tuesday, according to financial bookmakers with futures up 0.4 percent ahead of the cash market open.

* GKN (LON: GKN ): British engineering company GKN, target of a takeover bid, said on it had a plan in place to protect its pension scheme, as the issue emerged as the latest battleground between GKN management and hostile suitor Melrose.

* OCADO: British online supermarket Ocado (LON: OCDO ) on Tuesday reported quarterly retail revenue growth in line with its latest guidance, though trade in the final week of the period was dented by wintry weather.

* BELLWAY: British housebuilder Bellway Plc reported a 16.6 percent rise in first-half pretax profit on Tuesday as it sold more homes at higher prices.

* ENQUEST: North Sea-focused oil group EnQuest reported 2017 core profit of $303.6 million on Tuesday, slightly beating analysts' expectations as it embarks on reducing its debt of around $2 billion helped by the ramp-up at its Kraken field.

* IQE: British chipmaker IQE Plc, whose technology is used in Apple Inc (NASDAQ: AAPL )'s iPhone, posted an 18 percent rise in full-year pretax profit on Tuesday on strong sales of wafer, a semiconductor material.

* BRITAIN-EU: Britain and the European Union agreed on Monday to a transition period to avoid a "cliff edge" Brexit next year -- though only after London accepted a potential solution for Northern Ireland's land border that may face stiff opposition at home.

* CAMBRIDGE ANALYTICA: Britain's data protection authority plans to seek a warrant to search the offices on Tuesday of London-based political consulting firm Cambridge Analytica, UK Information Commissioner Elizabeth Denham told Channel 4 News on Monday.

* FENNER: French tyre maker Michelin (PA: MICP ) plans to buy British engineering company Fenner for 1.2 billion pounds ($1.7 billion) so that it can serve mining companies better and benefit from an industry recovery.

* MICRO FOCUS: FTSE 100 software group Micro Focus saw its 470-million-euro term loan B drop over 150 basis points in secondary trading on Monday, after its shares plunged by more than 40 percent following weaker than expected results.

* OIL: Oil prices edged up on Tuesday, lifted by tensions in the Middle East, although rising output in the United States and shaky stock markets put a lid on further gains.

* GOLD: Gold was firm on Tuesday, having recovered from over a two-week low hit in the previous session, as traders waited to gauge the path of U.S. monetary policy for the rest of the year from the two-day Federal Reserve meeting that kicks off later in the day.

* The UK blue chip index closed 1.7 percent lower at 7,042.93 on Monday, after Britain and the European Union agreed on a post-Brexit transition which boosted the sterling but weighed on the internationally exposed index.

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