UPDATE 1-UK Stocks-Factors to watch on Aug. 12

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on Aug. 12
Credit: © Reuters.

(Adds futures, news items)

Aug 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening seven points lower at 6,148 on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.2% ahead of cash markets open.

* AVAST: Avast AVST.L expects annual organic revenue to grow at the upper end of its forecast after a strong first half, underpinned by the work-from-home trend. ADMIRAL: Admiral ADML.L posted higher first-half profit as motor claims dropped with Britons staying off roads during strict coronavirus lockdowns in March and April. M&G: Insurer and asset manager M&G MNG.L recorded a 57% fall in first-half operating profit. ASOS: Online fashion retailer ASOS ASOS.L forecast full year sales and profit significantly ahead of market expectations, saying it was benefiting from stronger than anticipated underlying demand. BALFOUR BEATTY: Balfour Beatty BALF.L reported a pretax loss for the first half, as the COVID-19 crisis forced it to halt construction work at its projects in March and April. JUST GROUP: Just Group Plc JUSTJ.L appointed John Hastings-Bass as its new chairman to succeed Chris Gibson-Smith. ECONOMY: Britain's economy shrank by a record 20.4% between April and June, the largest contraction reported by any major economy so far, according to official figures. BRITISH AIRWAYS: British Airways ICAG.L agreed to a deal with trade unions representing parts of its workforce in Heathrow over planned job cuts, with the airline's chief executive saying significant progress had been made in a message to staff on Tuesday. BUDGET: Rishi Sunak is weighing options to shelve his autumn budget if Britain is hit by a big second wave of the coronavirus, the Financial Times reported on Tuesday. OIL: Oil prices moved higher after an industry report showed that U.S. inventories of crude fell more than analysts had expected, bolstering hopes that fuel demand in the world's biggest economy can weather the coronavirus pandemic. GOLD: Gold fell below the $1,900 per ounce level as a resurgent dollar prompted investors to reassess their positions after a record-breaking price rally. METAL: Copper prices fell as traders turned anxious over mounting uncertainty about additional U.S. fiscal stimulus to help boost a pandemic-ravaged economy. The UK blue-chip index .FTSE added 1.6% on Tuesday, tracking gains in Asia and on Wall Street on relief that a U.S.-China spat appeared not to have spilled over into trade. For more on the factors affecting European stocks, please click on: LIVE/

TODAY'S UK PAPERS

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