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UPDATE 1-UK Stocks-Factors to watch on Nov 25

Published 25-11-2020, 01:18 pm
© Reuters.
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(Adds futures, news items)

Nov 25 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 35 points higher at 6,467 on Wednesday, according to financial bookmakers, with futures up 0.34% ahead of the cash market open.

* VIRGIN MONEY: Virgin Money (LON:VM) UK VMUK.L reported a 77% drop in annual underlying pre-tax profit, as it took a 501 million pound ($669.14 million) impairment charge against an expected surge in bad loans in Britain's coronavirus-driven economic downturn. DE LA RUE: Banknote printer De La Rue DLAR.L reported a near seven-fold jump in first-half profit, buoyed by cost cuts under a turnaround plan. KINGFISHER: Retailer Kingfisher KGF.L said it had bought European home improvement service marketplace NeedHelp for about 10 million euros in cash to extend the services it could provide customers and boost its digital capabilities. TULLOW OIL: Tullow Oil TLW.L will commit 90% of its investments in coming years on its existing oilfields offshore West Africa and move exploration activities to the back burner as it seeks to reduce its debt burden. AA PLC: AA Plc AAAA.L said it had agreed a sale to private equity groups Warburg Pincus International and TowerBrook Capital Partners that values the company at 219 million pounds. BREWIN DOLPHIN: Brewin Dolphin BRW.L reported a rise in full-year profit as improved investor sentiment on the back of stimulus measures and COVID-19 vaccine hopes offset steep outflows due to a virus-led selloff. UNITED UTILITIES: United Utilities Group UU.L forecast annual revenue to fall, hit by a drop in household and commercial consumption due to the COVID-19 pandemic and price cuts set by the sector regulator. GOLD: Gold fell as the formal start of Joe Biden's transition to the White House and optimism over coronavirus vaccines dented bullion's safe-haven appeal. OIL: Oil rose for the fourth straight session as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. The UK blue-chip index .FTSE closed 1.6% higher on Tuesday, while the midcap index ended at a near nine-month peak as optimism over a coronavirus vaccine increased hopes for a swift economic recovery. For more on the factors affecting European stocks, please click on: LIVE/

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