November 1, 2019 / 7:53 AM / 17 days ago

UPDATE 1-UK Stocks-Factors to watch on Nov. 1

(Adds news items, futures)

Nov 1 - Britain’s FTSE 100 index is seen opening 31 points higher at 7,279 on Friday, according to financial bookmakers, with futures flat ahead of the cash market open.

* TP ICAP: The world’s largest inter-dealer broker TP ICAP reported a jump in third-quarter revenue, benefiting from higher trading activity.

* LOOKERS: British car dealership Lookers said it expects annual underlying profit to fall by more than two-thirds as the UK car market struggles with dwindling consumer confidence and margin pressures.

* TESCO: Britain’s biggest retailer Tesco has pledged to remove one billion pieces of plastic packaging from products in its UK stores by the end of 2020, seeking to reduce its environmental impact and meet growing consumer demand for less waste.

* BANKS: A mandatory 24-hour delay on all first-time payments from one bank account to another would cut mounting fraud in finance, UK lawmakers said in a report on Friday.

* SMITH+NEPHEW: A U.S. appeals court on Thursday said a patent case brought on by Smith+Nephew and its ArthroCare unit against Arthrex Inc should be heard by a new panel after the court declared unconstitutional the structure of the federal tribunal that reviews the validity of patents.

* GOLD: Gold edged down on profit booking and as investors gauged the Federal Reserve’s future rate cut stance, but the metal was set for a second weekly gain as the uncertainty surrounding a U.S.-China trade deal boosted safe-haven appeal.

* OIL: Oil prices edged up after a difficult week, but were still headed for losses of about 4%, hit by a combination of rising global supply and uncertain future demand.

* The UK blue chip index dropped more than 1% on Thursday, under pressure from results-driven falls in Shell and Lloyds and the latest tensions over the U.S.-China trade situation.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Pushkala Aripaka and Shanima A in Bengaluru; Editing by Arun Koyyur)

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