July 30, 2019 / 6:51 AM / 3 months ago

UPDATE 1-UK Stocks-Factors to watch on July 30

(Adds company news items and futures)

July 30 (Reuters) - Britain’s FTSE 100 index is expected to open 22 points higher at 7,709 on Tuesday, according to financial bookmakers, with futures up 0.24% ahead of the cash market open.

* JUPITER FUND MANAGEMENT: British money manager Jupiter Fund Management on Tuesday posted an 8% increase in assets under management, boosted by market gains, although it continued to see outflows of client cash.

* BP: BP reported $2.8 billion in second-quarter profit on Tuesday, unchanged from a year earlier, held back by lower oil prices.

* GREGGS: Greggs, the British baker and food-on-the-go retailer, posted a 58% rise in first-half profit on Tuesday, driven by a boost to sales from the popularity of its vegan sausage rolls.

* RECKITT: British household goods maker Reckitt Benckiser reported lower than expected second-quarter sales, hurt by a slowdown in demand for infant formula in the United States and China, and cut its full-year revenue target.

* CYBG: British lender CYBG Plc lowered its forecast for full-year margins on Tuesday after posting a slight dip in quarterly margins as a slowdown in its mortgages unit offset growth in lending to small and medium sized businesses and individuals.

* CENTRICA: British Gas parent Centrica said on Tuesday Chief Executive Officer Iain Conn will step down, and the company slashed its dividend and announced that it was exiting its oil and gas business.

* BBA AVIATION: BBA Aviation Plc said on Tuesday that it agreed to sell its Ontic aircraft parts and services unit to private equity firm CVC Capital Partners’ CVC Fund VII for an enterprise value of $1.37 billion.

* PROVIDENT FINANCIAL: Sub-prime lender Provident Financial on Tuesday reported adjusted first-half profit in line with its own estimates, as it works on reviving its battered home credit business.

* BRITAIN-RETIREMENT: Britain’s markets watchdog has proposed banning financial advisors from getting paid only when a customer buys a pension, known as contingent charging.

* SPORTS DIRECT: Grant Thornton, the auditor of Sports Direct International , has told UK regulators it intends to quit its role following concerns over the disclosure of a 674 million euro tax bill from Belgian authorities, the Financial Times reported on Monday.

* WOODFORD: Under-fire British asset manager Neil Woodford was hit by a double blow on Monday as his flagship fund looked set to remain frozen until early December and he faced being sacked from managing his namesake listed investment trust.

* BREXIT: Sterling tumbled to a 28-month low on Monday as Prime Minister Boris Johnson said the Brexit divorce was dead and warned that unless the European Union renegotiated, Britain would leave on Oct. 31 without a deal.

* OIL: Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than ten years, which should support economic and fuel demand growth in the world’s biggest oil user.

* GOLD: Gold prices edged down on Tuesday as the dollar held firm near two-month highs, while investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting expected to result in a cut in interest rates.

* Britain’s FTSE 100 surged to its highest in nearly a year on Monday, as shares of Just Eat and London Stock Exchange rallied on deal-related news, while exporter stocks benefited from a weaker pound amid heightened ‘no-deal’ Brexit fears.

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


> Financial Times

> Other business headlines (Reporting by Pushkala Aripaka and Siju Varghese in Bengaluru)

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