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UPDATE 1-UK Stocks-Factors to watch on July 29
July 29, 2016 / 6:46 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on July 29

(Adds futures, company news items)

July 29 (Reuters) - Britain’s FTSE 100 index is seen opening flat according to financial bookmakers, with futures down 0.01 percent ahead of the cash market open.

* The UK blue chip index closed 0.4 percent lower on Thursday at 6,721.06 points, after hitting a one-year high in the previous session, with Lloyds, Smith & Nephew and Royal Dutch Shell falling after poorly received trading updates.

* IAG: British Airways-owner IAG posted a lower-than-expected quarterly operating profit and said it expected 2016 profit to rise by a “low double digit” percent after attacks, strikes and Britain’s vote to leave the European Union impacted travel demand and hit results.

* BARCLAYS: Barclays reported a 20 percent dip in first-half pretax profits despite improved returns in its core business, as the costs of selling and shrinking the bank’s unwanted assets in a harsh economic environment took its toll on earnings.

* RECKITT BENCKISER: Reckitt Benckiser Group said net revenue rose 5 percent in the first half of the year, but toned down its full-year outlook due to a scandal over humidifier sanitisers in South Korea.

* FOXTONS: London-focussed estate agent Foxtons blamed a 42 percent drop in its first-half profit on Britain’s EU referendum, saying it led to a fall in transactions which is likely to last until the end of the year.

* ANHEUSER-BUSCH INBEV:, the world’s largest brewer, cut its guidance for growth this year in Brazil due to the struggling economy on Friday and said it aimed to seal the purchase of nearest rival SABMiller this year.

* LSE/DEUTSCHE BOERSE: German exchange operator Deutsche Boerse is girding for an in-depth investigation by EU competition authorities of its planned $27 billion merger with London Stock Exchange Group, it said on Thursday.

* TESCO: Tesco on Friday unveiled its latest weapon in a drive to improve its image and win share in the cut-throat British grocery market - free fruit for children while their parents shop.

* ANGLO AMERICAN: Anglo American Plc has rebuffed informal approaches by Indian mining and metals tycoon Anil Agarwal, Bloomberg reported, citing people familiar with the matter.

* OIL: Oil prices fell to fresh April lows on Friday as slowing economic growth threatened to worsen ongoing oversupply of crude and refined products.

* BREXIT: Shockwaves from Britain’s vote to leave the European Union rocked the economy on Thursday, with thousands of jobs lost at one of the country’s biggest banks, big extra costs for Ford, and consumer confidence plunging.

Britain wants a bespoke model for its future ties with the European Union, Prime Minister Theresa May said on Thursday, during a tour of Eastern European allies aimed at securing support in negotiations on leaving the bloc.

* STERLING: Sterling fell to a two-week low against the euro on Thursday, 3,000 job cuts at British bank Lloyds adding to signs of a worsening economic outlook as investors bet the Bank of England will cut interest rates next week.

* UK HOUSING: The number of new homes registered for construction in Britain rose in the second quarter to its highest since the financial crisis as building plans picked up before the EU referendum, an industry group said on Friday.

* UK CONSUMER CONFIDENCE: British consumer morale suffered its sharpest drop in more than 26 years after last month’s decision by voters to leave the European Union, as Britons became increasingly pessimistic about the economic outlook.

* BT: BT Group Plc's Chief Executive Gavin Patterson has said EU regulations mean it cannot be forced to break up with Openreach, the broadband network it controls, as it unveiled a boost in sales and profits, the Telegraph reported.

* RYANAIR: Ryanair Holdings Plc has announced plans to make it mandatory for adults travelling with children under 12 to buy reserved seating, Sky News reported.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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