UPDATE 1-UK Stocks-Factors to watch on April 22

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on April 22

(Adds futures, news items)

April 22 - Britain's FTSE 100 .FTSE index is seen opening 39 points higher at 5,680 on Wednesday, according to financial bookmakers, with futures FFIc1 gaining 0.9%, ahead of cash market open.

* CPI: Dragged down by clothing and footwear prices, Britain's inflation rate fell as expected in March when oil prices tumbled and the coronavirus crisis escalated, official data showed. ANTOFAGASTA: Chile's Antofagasta ANTO.L cut capital expenditure for the year and said copper production would be at the lower end of the guidance due to the coronavirus pandemic. BOOHO: British online fashion retailer Boohoo BOOH.L said it saw a marked decrease in year-on-year sales growth in the middle of March, impacted by lockdowns due to the coronavirus crisis, though its performance has improved in recent weeks. HISCOX: Specialist insurer Hiscox HSX.L said it expected to pay up to $175 million to settle claims arising from travel, events and mass gatherings cancelled in the wake of COVID-19, if disruption from the pandemic lasted more than six months. BEAZLEY: Insurer Beazley Plc BEZG.L estimated coronavirus-related claims at $170 million and said it was rejecting claims from small companies for business interruption in the crisis, while also reporting a $55 million loss in the first quarter due to this year's selloff in financial markets. DRAX: British power producer Drax Group DRX.L estimated a 60-million-pound hit from the coronavirus crisis and said it expects a rise in bad debts because of potential business collapses due to the shutdowns. THAMES WATER UTILITIES: Britain's Thames Water Utilities Ltd KMBWTU.UL appointed Sarah Bentley as its new chief executive officer, nearly a year after it began the search for the top role. GEMFIELDS: Gemfields Group GEMGE.L , GMLJ.J , owner of jewellery maker Faberge, said it suspended its share buyback programme and cut working days across the UK amid plans to shore up its finances in response to the coronavirus pandemic. ADMIRAL: Insurer Admiral ADML.L said on Tuesday it will return 110 million pounds ($136.43 million) to car and van policyholders who they hope have heeded government advice to stay home and drive less during Britain's coronavirus lockdown. JOHN LEWIS: John Lewis Partnership warned on Tuesday that sales at its department stores division could crash by 35% this year in a worst-case scenario for the coronavirus crisis. ASSOCIATED BRITISH FOODS: Primark owner Associated British Foods ABF.L will not pay an interim dividend to save cash during the coronavirus crisis and has booked a 284 million pound charge to reflect an expected lower value of stock when its stores reopen. The UK blue-chip index .FTSE closed down 3% on Tuesday as plunging oil prices hit the commodity-heavy index, heightening concerns about the economic damage from the new coronavirus. For more on the factors affecting European stocks, please click on: LIVE/


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