March 11, 2020 / 7:56 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on March 11

(Adds company news items & futures)

March 11 (Reuters) - Britain’s FTSE 100 index is seen opening up 39 points on Wednesday, according to financial bookmakers with futures up 0.7% ahead of cash markets open.

* B&M: British discount retailer B&M European Value Retail said on Wednesday it had agreed the sale of its loss-making German business, Jawoll, to a consortium led by AC Curtis Salta for 12.5 million euros ($14.2 million).

* G4S: Britain’s G4S, one of the world’s largest private security firms, on Wednesday reported an annual statutory loss after taking a 291 million pound ($374.75 million) charge chiefly related to its UK cash business.

* BALFOUR BEATTY: Infrastructure firm Balfour Beatty confirmed on Wednesday it would wait until it had a clearer understanding of the coronavirus situation before making any moves on its capital structure.

* QUILTER: British wealth manager Quilter on Wednesday posted a small rise in 2019 adjusted profit, but warned that a coronavirus-induced selloff in equities has made its 2020 outlook uncertain.

* BANK OF ENGLAND: The Bank of England unexpectedly cut interest rates by half a percentage point to 0.25% on Wednesday in a move to bolster Britain’s economy against disruption caused by the coronavirus outbreak.

* FORMULA ONE: Two members of the Haas Formula One team and one from McLaren were quarantined on Wednesday as a precaution amid coronavirus fears ahead of Sunday’s season-opening race in Melbourne.

* LOOKERS: British car dealership Lookers said on Tuesday it had identified potentially fraudulent transactions in one of its operating divisions and postponed its annual results until the second half of April.

* BARCLAYS: Barclays Plc has told employees that a member of its trading staff in its Manhattan office has tested positive for the coronavirus, the company said on Tuesday.

* FINANCIAL FIRMS: Banks and other large financial companies in major cities across the world ramped up their emergency measures to combat the spread of the coronavirus on Tuesday, with Barclays Plc and BlackRock Inc confirming one case in their New York offices.

* OIL: Oil prices climbed for a second day on Wednesday as hopes U.S. producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally.

* GOLD: Gold prices rose on Wednesday after a steep fall in the previous session, as doubts about a stimulus package proposed by U.S. President Donald Trump to soften the economic impact of the coronavirus epidemic weighed on risk sentiment.

* The UK blue-chip index closed down 0.1% on Tuesday as optimism around stimulus measures by major central banks was overshadowed by heightened coronavirus fears in Sweden.

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


> Financial Times

> Other business headlines (Reporting by Aniruddha Ghosh in Bengaluru)

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