UPDATE 1-UK Stocks-Factors to watch on Feb. 24

  • Reuters
  • Stock Market News
UPDATE 1-UK Stocks-Factors to watch on Feb. 24
Credit: © Reuters.

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Feb 24 - Britain's FTSE 100 .FTSE index is seen opening 92 points lower at 7,312 on Monday, according to financial bookmakers, with futures down 1.5% ahead of cash markets open.

* BUNZL: British business supplies distributor Bunzl BNZL.L reported a 2.4% rise in annual profit benefiting from the acquisitions it made last year, although growth in organic revenue slowed in its largest market North America. ASSOCIATED BRITISH FOODS: Primark owner Associated British Foods (LON: ABF ) warned there was a risk of supply shortages on some lines later in the 2019-20 financial year if delays in factory production in China are prolonged due to coronavirus. COUNTRYWIDE/LSL PROPERT SERVICES: British real estate agent Countrywide CWD.L confirmed that it was in talks with rival LSL Property Services LSL.L for a possible all-share merger. REACH: British newspaper publisher Reach RCH.L said it aimed to grow its registered users to 7 million over the next three years, helping secure the future of its news title such as the Mirror, Express and Manchester Evening News. BARCLAYS: Barclays BARC.L is gearing up to start the search for a new top boss to replace Chief Executive Officer Jes Staley, the Financial Times reported, citing two people briefed on the bank's plan. HSBC: UniCredit Chief Executive Jean Pierre Mustier has ruled himself out of a switch to European rival HSBC HSBA.L , a source with knowledge of the matter told Reuters on Sunday. OIL: Oil prices tumbled nearly 3% towards a one-week low as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand. O/R

* GOLD: Gold prices climbed more than 2% to their highest level since February 2013, as a spike in infections in several countries outside China heightened worries about a hit to global economic growth, prompting a flight to safe havens. The UK blue-chip index .FTSE closed 0.4% down on Friday as investors took measures to reduce their exposure to perceived risky assets as the coronavirus continued to spread, while a buyout offer powered real estate investment firm Daejan Holdings DJAN.L to an all-time high. For more on the factors affecting European stocks, please click on: LIVE/

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