April 27, 2020 / 6:50 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on April 27

(Adds company news items and futures)

April 27 (Reuters) - Britain’s FTSE 100 index is seen opening 69 points higher at 5,821 on Monday, according to financial bookmakers, with futures up 1.30% ahead of cash market open.

* INTERCONTINENTAL HOTELS: Holiday Inn-owner InterContinental Hotels said it had agreed changes to the terms of its borrowing with creditors and made use of UK government supported loans as it predicted a 25% plunge in global revenue per available room in the first quarter.

* REDROW: UK housebuilder Redrow will not restart construction on its sites before May 18, the company said, much later than the dates announced last week by a handful of its peers.

* ADMIRAL: British insurer Admiral has suspended plans to pay a special dividend of 20.7 pence per ordinary share, although it will continue to pay its planned normal dividend of 56.3 pence, it said.

* ASHTEAD: Equipment rental firm Ashtead warned that its annual profit would come in lower than last year and said it had taken out an extra $500 million in debt, as the company faces a slump in rentals due to the coronavirus-led shutdowns.

* OIL: Oil prices fell on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.

* The UK blue-chip index closed 1.3% lower on Friday, weighed down by falling oil majors BP and Shell, while retail sales data showed the scale of the economic fallout from the coronavirus crisis.

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


> Financial Times

> Other business headlines (Reporting by Indranil Sarkar and Samantha Machado in Bengaluru)

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