UPDATE 1-UK Stocks-Factors to watch on April 1

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on April 1
Credit: © Reuters.

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April 1 - Britain's FTSE 100 .FTSE index is seen opening 157 points lower at 5,515 on Wednesday, according to financial bookmakers, with futures .FFIc1 down 4% ahead of the cash market open.

* TAYLOR WIMPEY: UK housebuilder Taylor Wimpey TW.L said it was cancelling a planned pay rise and bonus payments for management this year, with directors also taking a 30% cut in pay for the duration of the coronavirus lockdown. AUTO TRADER: Online car market place Auto Trader AUTOA.L said it would sell up to 46.5 million new shares, worth 5% of its share capital, to institutional investors to shore up its finances and liquidity position in the face of the coronavirus crisis. FINABLR: Payments group Finablr FINF.L named Bhairav Trivedi as its chief executive officer, after his predecessor Promoth Manghat left when the company expressed doubts about its ability to continue as a going concern. QINETIQ: British defence company Qinetiq Group QQ.L said it would postpone a decision on whether to propose paying a full-year dividend until later in 2020, citing uncertainty caused by the coronavirus pandemic. OIL: Global crude oil prices slid further, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears. O/R

* The UK blue-chip index .FTSE closed up 2% to end its worst quarter since 1987 on a positive note on Tuesday, as a recovery in oil prices and a surprise expansion in Chinese factory activity stoked modest hopes for an economic recovery. For more on the factors affecting European stocks, please click on: LIVE/

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