UPDATE 1-UK Stocks-Factors to watch on Oct 7

(Adds company news items, futures)

Oct 7 (Reuters) - Britain’s FTSE 100 index is seen opening 16 points lower at 5,934 on Wednesday, according to financial bookmakers, with futures down 0.03% ahead of cash market open.

* TESCO: Tesco, Britain’s biggest retailer by sales, reported a 15.6% fall in core profit, with a jump in sales due to the COVID-19 pandemic more than outweighed by higher costs and losses at Tesco Bank.

* Tour operator TUI named Sebastian Ebel as its new finance chief, replacing Birgit Conix, as part of a management board reshuffle.

* G4S: British private security company G4S once again rejected smaller Canadian rival GardaWorld’s offer and dismissed claims made by the hostile bidders in a pitch to shareholders as misleading.

OIL: Oil prices fell after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude inventories.

* GOLD: Gold prices edged up, after hitting a one-week low in early trade, lifted by renewed fears over economic recovery and uncertainty around the U.S. presidential election after Trump’s COVID-19 diagnosis.

* The UK blue-chip index ended flat on Tuesday as a stronger pound pressured the export-heavy index.

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


> Financial Times

> Other business headlines (Reporting by Samantha Machado in Bengaluru; editing by Uttaresh.V)