July 17, 2020 / 6:57 AM / 19 days ago

UPDATE 1-UK Stocks-Factors to watch on July 17

(Adds futures, updates British Airways, oil and metal items) Britain’s FTSE 100 index is seen opening 21 points higher at 6,272 on Friday, according to financial bookmakers, with futures seen up 0.3% ahead of cash market open.

* BRITISH AIRWAYS: British Airways, the world’s largest operator of Boeing 747s, will retire its entire jumbo jet fleet with immediate effect after the novel coronavirus pandemic sent air travel into freefall.

* RIO TINTO: Rio Tinto reported a 1.5% rise in iron ore shipments for the second quarter.

* NHS INVESTMENT: Prime Minister Boris Johnson is to pour 3 billion pounds ($3.77 billion) into England’s National Health Service (NHS) to try to ward off any resurgence of the coronavirus.

* 5G: The U.S. and British foreign ministers agreed to promote the development of “additional trusted 5G solutions,” the U.S. State Department said on Thursday, two days after Britain decided to purge Huawei equipment from its 5G network.

* OIL: Oil prices edged lower, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries.

* GOLD: Gold steadied near the $1,800 level after a sharp fall in the previous session, as worries over surging coronavirus cases and U.S.-China tensions underpinned its safe-haven appeal.

* METALS: London copper was poised for its first weekly fall in nine weeks on Friday, hit by worsening U.S.-China relations and rising coronavirus infections.

* The UK blue-chip index was down 0.7% on Thursday, as apprehension over the local job market and a drop in China’s retail sales chipped away at hopes for a swift economic recovery.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Tapanjana Rudra; Editing by Shailesh Kuber)

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