UPDATE 1-UK Stocks-Factors to watch on Aug. 27

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on Aug. 27
Credit: © Reuters.

(Adds futures, news items) Britain's FTSE 100 .FTSE index is seen opening 3 points higher at 6,048 on Thursday, according to financial bookmakers, with futures FFIc1 seen down 0.2% ahead of cash market open.

* ROLLS-ROYCE: Britain's Rolls-Royce RR.L said it aimed to sell its Spanish unit ITP Aero and other assets to raise at least 2 billion pounds to boost its balance sheet, which has been shattered by the travel slump brought on by the coronavirus pandemic. HAYS: Hays Plc HAYS.L , one of the world's biggest recruitment agencies, posted a 12% fall in its annual net fees on Thursday and said it expected to cut more jobs this quarter by not refilling roles as it adjusts to the slump in hiring due to the COVID-19 pandemic. OCADO: British online supermarket and technology group Ocado OCDO.L said on Thursday Duncan Tatton-Brown would step down as chief financial officer after eight years in the role and be replaced by Rolls-Royce RR.L finance chief Stephen Daintith. HUNTING: Oilfield services group Hunting Plc HTG.L on Thursday reported a 63% plunge in first-half earnings as its clients cut back on spending due to the coronavirus-led crash in fuel demand, but it expects markets to improve in the fourth quarter. HSBC: U.S. Secretary of State Mike Pompeo on Wednesday renewed criticism of British bank HSBC HSBA.L for its reported treatment of customers linked with the pro-democracy movement in Hong Kong, saying China was "bullying" the United Kingdom. CAR PRODUCTION: British car production rose sharply in July but is still well below last year's level after manufacturing almost completely stopped in April at the start of the coronavirus lockdown, industry figures showed on Thursday. JOBS: Britain's services firms haemorrhaged jobs in the three months to August, a survey showed in the latest sign of mounting unemployment as the government's coronavirus job protection scheme is wound down. NICKEL: Nickel prices hit their highest since November on Friday, fuelled by solid demand from the stainless steel sector and concerns over supply from top producer Indonesia. MET/L

* GOLD: Gold prices fell on Thursday, following a sharp rise in the previous session, as investors squared positions ahead of a much-awaited speech from U.S. Federal Reserve Chairman Jerome Powell. GOL/

* OIL: Oil prices were in a holding pattern on Thursday as a massive storm in the Gulf of Mexico raced towards the heart of the U.S. oil industry, forcing oil rigs and refineries to shut, with little impact expected on supply as oil stockpiles remain high. O/R

* The UK blue-chip index .FTSE closed up just 0.1%, struggling to build on a strong start to the week as more signs of a sluggish economic rebound overshadowed optimism around COVID-19 vaccines and U.S.-China trade. .L

* For more on the factors affecting European stocks, please click on: LIVE/


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