UPDATE 1-UK Stocks-Factors to watch on March 16

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on March 16
Credit: © Reuters.

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March 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 120 points lower on Monday, according to financial bookmakers, with futures down 4.4% ahead of cash markets open.

* PLUS500: Online platform Plus500 PLUSP.L said on Monday that annual earnings and revenue would be ahead of current market expectations, as a market selloff on the back of the coronavirus and the dive in oil prices drove a surge in volumes of trade on its platform. LAURA ASHLEY: British retailer Laura Ashley ALY.L warned on Monday that it will need additional funding to meet its ongoing working capital requirements, just a month after saying it has access to sufficient cash to meet its immediate needs. IAG (LON: ICAG ): The owner of British Airways and easyJet (LON: EZJ ), Europe's no.3 and no.4 airlines, said they would cut capacity drastically to try to survive the coronavirus outbreak which has stopped people travelling around the world. KINGFISHER: Home improvement group Kingfisher KGF.L said on Monday all 221 of its Castorama and Brico Dépôt stores in France have closed until April 14 in line with government advice on coronavirus, while its 28 stores in Spain have also shut until March 29. MANUFACTURING: Manufacturing in Britain weakened sharply in early 2020 even before concerns about the coronavirus crisis escalated, adding urgency to the need for a trade deal with the European Union, an industry survey showed. OIL: Oil extended losses as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers. GOLD: Gold prices jumped in early trade after another emergency rate cut by the Fed, before paring gains as some investors sold the metal for cash amid a sell-off in equities. COPPER: London copper prices fell as dismal industrial data from China and emergency policy measures from the Fed underscored the extent of economic damage wrought by the coronavirus pandemic. CORONAVIRUS: The number of deaths of Britons with coronavirus jumped by 14 in the last 24 hours to 35, while the number of people diagnosed rose by 20% to 1,372, health authorities said on Sunday. CORONAVIRUS: Britain's food retailers appealed to shoppers on Sunday to stop panic buying during the coronavirus outbreak, saying purchasing more than they need would mean others will be left without. BP: BP BP.L is seeking to reduce spending after the collapse in oil prices sent its shares to their lowest in 24 years, Chief Executive Bernard Looney said on Friday. JET2.COM: British budget airline Jet2.com cancelled all of its flights to Spain on Saturday after the country declared a state of emergency due to the spread of coronavirus. London stocks rose on Friday as moves by policymakers to limit the economic hit from the coronavirus pandemic fuelled a rebound, a day after the worst selloff of the blue chip index since the 1987 "Black Monday" crash. UK PAPERS

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