December 20, 2018 / 7:53 AM / 3 months ago

UPDATE 1-UK Stocks-Factors to watch on Dec 20

(Updates with company news items and futures)

Dec 20 - Britain’s FTSE 100 index is seen opening 92 points lower at 6,674 with futures down 1.72 percent ahead of the cash market open on Thursday.

* KIER: Kier Group said on Thursday investors snapped up only 38 percent of the new shares the British builder issued as part of a fundraising, as shareholders likely avoided a construction sector shaken by the collapse of Carillion.

* YU GROUP: Electricity and gas supplier Yu Group Plc said on Thursday that its accounting review confirmed serious historic failures with the company’s processes and systems as it relates to its finances.

* FAROE PETROLEUM: Britain’s Faroe Petroleum freshly rejected a hostile bid by Norway’s DNO on Thursday, which it said was “inadequate” and substantially undervalued the Aberdeen-based firm.

* GOLD: Gold prices steadied on Thursday, after shedding half a percent in the previous session as the U.S. Federal Reserve delivered a less-dovish outlook on monetary tightening than many had expected.

* OIL: Oil prices fell on Thursday to erase most of their gains from the day before, resuming declines seen earlier in the week amid worries about oversupply and the outlook for the global economy.

* EX-DIVS: Berkeley Group, Burberry Group and United Utilities Group will trade without entitlement to their latest dividend pay-out on Thursday, trimming 0.57 points off the FTSE 100 according to Reuters calculations.

* The UK blue chip index closed 1 percent higher on Wednesday, as pharmaceuticals giant GSK helped Britain’s main bourse break a three-day losing streak even as all eyes were on the Fed, ahead of a key announcement that will set the course of interest-rate hikes in the world’s largest economy.

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

TODAY’S UK PAPERS

> Financial Times

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

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