January 20, 2020 / 8:02 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on Jan. 20

(News items, factors)

Jan 20 (Reuters) - Britain’s FTSE 100 index is seen opening 12 points higher at 7,686 on Monday, futures up 0.1%, according to financial bookmakers.

* FEVERTREE: Premium tonic water maker Fevertree Drinks Plc’s said annual revenue growth of 10% would be below its expectations, hurt by subdued Christmas trading in Britain.

* BAE SYSTEMS: British defence company BAE Systems said it would spend $2.2 billion to help grow its U.S.-based Electronic Systems business, picking up two units being offloaded as a result of the merger of U.S. rivals Raytheon and United Technologies.

* INTU: British shopping centre operator Intu Properties said it was targeting an equity raise by the end of February to tackle debt, as it engages in talks with shareholders and potential new investors.

* ANGLO AMERICAN: Anglo American said it agreed to buy Sirius Minerals for 404.9 million pounds ($526.2 million) in cash, marking the global miner’s return to fertilizer.

* PROPERTY MARKET: Asking prices for British houses put on sale in the five weeks to Jan. 11 rose by a record amount for the time of year, property website Rightmove said, adding to signs of a post-election bounce in consumer and business confidence.

* CAR INSURANCE: Comprehensive motor insurance policy costs in Britain rose 5% on average in 2019, the steepest annual rise since 2017, an insurance price index showed

* CAIRN ENERGY: Australian oil minnow FAR Ltd said it has lined up loan funding for its share of the $4.2 billion Sangomar project, Senegal’s first oil development block, and made a final decision to proceed. The project is a joint venture (JV) between Woodside Petroleum, Cairn Energy Plc , FAR and Senegal’s state-owned Petrosen.

* BT: Britain’s BT and Vodafone are considering urging Prime Minister Boris Johnson not to risk the rollout of next generation mobile networks by banning China’s Huawei, sources said, confirming a Sky News report on Friday

* GOLD: Gold traded in a narrow $3 range as strong U.S. economic data encouraged investment in riskier assets while limited risk hedging supported the metal.

* OIL: Oil prices rose to their highest in more than week after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.

* METAL: London copper prices were steady, as top consumer China posted solid growth in key metal consuming sectors, but trading volume was low ahead of a long holiday in the country.

* London’s FTSE 100 rose to a more than five-month high on Friday as China’s economic growth met expectations and the pound slid after weak British retail sales raised the prospect of an imminent interest rate cut by the Bank of England.

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Rishika Chatterjee in Bengaluru; Editing by Shailesh Kuber)

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