March 17, 2020 / 8:04 AM / 4 months ago

UPDATE 1-UK Stocks-Factors to watch on March 17

(Adds company news items and futures)

March 17 (Reuters) - Britain’s FTSE 100 index is seen opening 75 points higher on Tuesday, according to financial bookmakers with futures up 3.8% ahead of cash markets open.

* STOBART: Infrastructure group Stobart said on Tuesday additional liquidity is likely to be required due to the disruption to its aviation business, especially the London Southend Airport, as the coronavirus crisis hammers airport traffic.

* CONTOUR GLOBAL: ContourGlobal on Tuesday reported a 15.2% rise in annual adjusted core earnings as it benefited from the sale of a 49% stake in a portfolio Spanish solar power assets and said it was cancelling a project in Kosovo that was to have been its last coal investment due to political barriers.

* DIXONS: Bitish electricals and mobile phone retailer Dixons Carphone will close all UK standalone Carphone Warehouse stores as part of a plan to turn around its mobile business, it said on Tuesday. * ASTRAZENECA: AstraZeneca Plc said on Tuesday its combo treatment for a form of lung cancer failed to meet the main goal of improving overall survival in patients in a late-stage study.

* ANTOFASGASTA: Chilean copper producer Antofagasta said on Tuesday 2019 profit climbed 9.5% on higher sales and lower costs, but flagged it would review its spending plans due to the tough global economy.

* ECONOMY: Britain’s economy looks on track to grow by the smallest amount since the financial crisis this year as the coronavirus outbreak threatens to drag major economies into recession, the British Chambers of Commerce said.

* EU ANTITRUST: European Union regulators have asked companies seeking to complete their desired mergers to delay submitting antitrust filings due to the coronavirus outbreak.

* CORONAVIRUS: Prime Minister Boris Johnson on Monday shut down social life in Britain and ordered the most vulnerable to isolate for 12 weeks, ramping up the battle against a coronavirus outbreak just as it accelerates towards it peak.

* CORONAVIRUS: British finance minister Rishi Sunak is expected to outline further support for businesses at a press conference with Prime Minister Johnson scheduled for Tuesday, a UK treasury source said on Monday.

* CORONAVIRUS: Britain has asked manufacturers including Ford, Honda and Rolls Royce to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.

* BOE: The Bank of England said it will offer 12-week U.S. dollar funds starting on Wednesday, part of a move by six of the world’s major central banks to ease strains in global markets and maintain liquidity through the coronavirus crisis.

* COPPER: London copper prices edged up from a 40-month low hit in the previous session, as investors expected that the U.S. Federal Reserve’s policy measures could boost long-term demand for metals.

* GOLD: Gold prices fell nearly 1.5%, extending losses from the previous session’s meltdown, as investors continued to sell assets to keep their money in cash because of heightened concerns over the economic toll of the coronavirus outbreak.

* OIL: Oil rose more than $1 as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.

* UK shares plunged on Monday as airlines announced flight cuts and stepped up calls for emergency aid to get through the coronavirus outbreak.


> Financial Times

> Other business headlines (Reporting by Shanima A in Bengaluru)

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