July 29, 2020 / 7:01 AM / 15 days ago

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

(Adds futures, news items) Britain’s FTSE 100 index is seen opening 11 points lower at 6,118 on Wednesday, according to financial bookmakers, with futures down 0.1%.

* BARCLAYS: Barclays set aside a higher-than-expected 1.6 billion pounds to cover a possible rise in loan losses in the second quarter.

* TAYLOR WIMPEY: Homebuilder Taylor Wimpey said it expects to complete around 40% fewer homes in 2020.

* DIGNITY: Funeral services provider Dignity Plc said profit in the first half of 2020 rose 11% as it conducted more funerals due to the COVID-19 pandemic.

* SMITH+NEPHEW: Medical products maker Smith+Nephew posted a lower-than-expected first-half profit as patients and hospitals delayed elective surgeries.

* NEXT: Next said its full-price sales in the second quarter declined by 28%, a much better result than it expected at the height of the pandemic.

* PREMIER FOODS: Premier Foods said its second-quarter sales have seen a strong start but expects that to normalise through the quarter.

* JUPITER FUND: Money manager Jupiter Fund Management said its assets under management fell 8% over the first six months.

* RIO TINTO: Miner Rio Tinto’s first-half profit fell 4%, as coronavirus-driven disruptions spurred a drop in copper shipments.

* ASTON MARTIN: Carmaker Aston Martin posted a first-half loss of 227 million pounds ($293 million).

* WIZZ AIR: Low-cost carrier Wizz Air said the aviation recovery would be like a roller coaster and that there was still too much uncertainty from the pandemic.

* LANCASHIRE: Insurer Lancashire posted a loss for the first half of the year.

* DRAX: Power generator Drax reported a 61 million pound ($79 million) loss before tax for the first half of 2020.

* OIL: Oil prices rose after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

* The UK blue-chip index closed up 0.4% on Tuesday, as investors hedged with defensive stocks ahead of some keenly awaited events such as a U.S. Federal Reserve meeting and a decision on a U.S. stimulus plan.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Tapanjana Rudra)

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