August 20, 2018 / 7:04 AM / 9 months ago

UPDATE 1-UK Stocks-Factors to watch on Aug 20

(Adds futures, company items)

Aug 20 (Reuters) - Britain’s FTSE futures up 0.2 percent ahead of the cash market open.

* TED BAKER: The UK’s Financial Reporting Council has fined accountants KPMG three million pounds and reprimanded and fined senior partner Michael Francis Barradell for misconduct related to auditing of British fashion retailer Ted Baker’s accounts.

* TBC Bank: Georgia’s TBC Bank Group Plc posted a 25.2 percent rise in half-year pretax profit on Monday, as lending grew on the back of a strong macroeconomic performance in the former Soviet republic.

* G4S: The British government has taken over the running of a major prison from contractor G4S GFS.L after an inspection found it had fallen into a “state of crisis” with prisoners using drugs and violence with near impunity.

* COUNTRYWIDE: Countrywide will stick with its existing pay package for senior executives following meetings with top investors, the company said on Monday, cancelling proposals for a new package that were to be put to shareholders at its annual general meeting.

* MULBERRY: British luxury bag maker Mulberry said on Monday it would take a 3 million pound ($3.8 million) hit from the administration of House of Fraser earlier this month, adding to the toll it faces from tough conditions in its home market.

* PRUDENTIAL: Insurer Prudential plans to consolidate all non-British European insurance business in its Dublin subsidiary as part of preparations for Britain’s exit from the European Union, a letter to clients seen by Reuters showed.

* JOHN LAING INFRASTRUCTURE FUND: Dalmore Capital, Equitix enter bid conduct agreement for John Laing Infrastructure Fund offer.

* BHP: The union representing workers of Chilean copper mine Escondida, operated by BHP, signed a new collective labor contract on Friday, ending the risk of a strike that could have paralyzed the world’s biggest copper mine.

* SUPERDRY: The co-founder of fashion brand Superdry is donating a million pounds ($1.28 million) to the campaign for a referendum on the final Brexit agreement as Britain prepares to outline in more detail how a no-deal outcome would work.

* ESURE: The search for Esure's next chief executive has been delayed by the company's agreement to be taken over by US private equity giant Bain Capital for 1.2 billion pounds, according to the Telegraph

* GSK: British drugmaker GlaxoSmithKline Pharmaceuticals is working on a strategy to reduce the number of brands in India to around 20 from 130, and bring in more patented products from the parent to the country, according to Business Standard

* The UK blue chip index closed flat on Friday at 7,558.59 points, at the end of a turbulent week for markets during which an economic crisis in Turkey spread anxiety across global financials and mining stocks.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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