March 26, 2019 / 7:54 AM / 10 months ago

UPDATE 1-UK Stocks-Factors to watch on March 26

(Adds company news items and futures)

March 26 (Reuters) - Britain’s FTSE 100 is seen opening 25 points higher at 7,202 on Tuesday, according to financial bookmakers, while FTSE 100 futures were down 0.01 percent ahead of the cash market open. * MOSS BROS: British suit retailer Moss Bros Group on Tuesday reported its first annual adjusted loss before tax since 2011 and abandoned its final dividend payout as it grappled with weak consumer demand and the fallout of Britain’s planned exit from the European Union. * UNITED UTILITIES: Water supplier United Utilities on Tuesday said its operating earnings for the fiscal year would be impacted by costs stemming from dry weather in the summer of 2018 while saying it expected underlying profit to rise compared to the previous year. * DEBENHAMS: Ailing department store group Debenhams said on Tuesday it would give “due consideration” to any offer for the British company from major shareholder Sports Direct but warned an offer would not, in itself, address its immediate funding needs.

* FERGUSON: Ferguson Plc’s half-year ongoing trading profit rose about 7.7 percent and the company said on Tuesday it expected trading profit for the year to be towards the lower end of analyst expectations.

* FEVERTREE: British premium drinks maker Fevertree Drinks Plc on Tuesday reported a 34 percent jump in annual adjusted core earnings, as Briton’s gin thirst grew and supported demand for the company’s mixers. * LONMIN: Platinum miner Lonmin does not have sufficient liquidity to fund the new projects needed to avoid shaft closures and job losses, it said on Monday as it urged shareholders to back its proposed takeover by Sibanye-Stillwater . * FASTJET: Cash-strapped regional Africa airline Fastjet Plc said on Monday it has reached an agreement to further extend the repayment date on its unsecured loans. * SPORTS DIRECT: Mike Ashley’s Sports Direct said on Monday it was considering buying the whole of Debenhams as an alternative to the restructuring options being pursued by the ailing department store chain’s directors.

* OCADO: British online supermarket pioneer Ocado has signed a partnership agreement with Australia’s Coles Group , its fifth major overseas deal in less than 18 months as food retailers around the globe meet the challenge of online competition.

* GOLD: Gold prices were steady on Tuesday and hovered near one-month high hit in the previous session, as demand for safe-haven assets improved after treasury yields and equities fell on possible U.S. recession and global growth concerns.

* OIL: Oil prices edged up on Tuesday, lifted by supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, but signs of a sharp economic slowdown and potentially even a recession kept markets from rising further.

* The UK blue-chip index closed 0.42 percent lower at 7177.58 on Monday as fears of a recession in the United States triggered a sell-off in global markets, while the mid-cap index was battered by uncertainty over the next steps in Brexit.

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


> Financial Times

> Other business headlines

Reporting by Adil Bhat in Bengaluru

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