March 16, 2020 / 7:59 AM / 2 months ago

UPDATE 1-UK Stocks-Factors to watch on March 16

 (Adds company news items and futures)
    March 16 (Reuters) - Britain's FTSE 100         index is seen opening 120
points lower on Monday, according to financial bookmakers, with futures down
4.4% ahead of cash markets open.
    
    * PLUS500: Online platform Plus500           said on Monday that annual
earnings and revenue would be ahead of current market expectations, as a market
selloff on the back of the coronavirus and the dive in oil prices drove a surge
in volumes of trade on its platform.             
    * LAURA ASHLEY: British retailer Laura Ashley         warned on Monday that
it will need additional funding to meet its ongoing working capital
requirements, just a month after saying it has access to sufficient cash to meet
its immediate needs.             
    * IAG: The owner of British Airways and easyJet, Europe's no.3 and no.4
airlines, said they would cut capacity drastically to try to survive the
coronavirus outbreak which has stopped people travelling around the world.
            
    * KINGFISHER: Home improvement group Kingfisher         said on Monday all
221 of its Castorama and Brico Dépôt stores in France have closed until April 14
in line with government advice on coronavirus, while its 28 stores in Spain have
also shut until March 29.             
    * MANUFACTURING: Manufacturing in Britain weakened sharply in early 2020
even before concerns about the coronavirus crisis escalated, adding urgency to
the need for a trade deal with the European Union, an industry survey showed.
            
    * OIL: Oil extended losses as an emergency rate cut by the U.S. Federal
Reserve failed to soothe global financial markets panicked by the rapid spread
of the coronavirus while a price war rages on between top producers.            
    * GOLD: Gold prices jumped in early trade after another emergency rate cut
by the Fed, before paring gains as some investors sold the metal for cash amid a
sell-off in equities.            
    * COPPER: London copper prices fell as dismal industrial data from China and
emergency policy measures from the Fed underscored the extent of economic damage
wrought by the coronavirus pandemic.            
    * CORONAVIRUS: The number of deaths of Britons with coronavirus jumped by 14
in the last 24 hours to 35, while the number of people diagnosed rose by 20% to
1,372, health authorities said on Sunday.            
    * CORONAVIRUS: Britain's food retailers appealed to shoppers on Sunday to
stop panic buying during the coronavirus outbreak, saying purchasing more than
they need would mean others will be left without.            
    * BP: BP        is seeking to reduce spending after the collapse in oil
prices sent its shares to their lowest in 24 years, Chief Executive Bernard
Looney said on Friday.            
    * JET2.COM: British budget airline Jet2.com cancelled all of its flights to
Spain on Saturday after the country declared a state of emergency due to the
spread of coronavirus.            
    * London stocks rose on Friday as moves by policymakers to limit the
economic hit from the coronavirus pandemic fuelled a rebound, a day after the
worst selloff of the blue chip index since the 1987 "Black Monday" crash.
            
        
    TODAY'S UK PAPERS
    > Financial Times                                
    > Other business headlines                       

 (Reporting by Shanima A in Bengaluru; Editing by Shailesh Kuber)
  
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