Views Article – Sharenet Wealth

Europe, News

UK Stocks-Factors to watch on July 7

(Adds futures, news items)

July 7 (Reuters) – Britain’s FTSE 100 index is seen opening a point lower at 6,285 on Tuesday, according to financial bookmakers, with futures down 0.6% ahead of cash markets open.

* JD SPORTS: Retailer JD Sports warned that customer traffic was still weak in malls and shopping centres across Europe as shoppers worried about visiting densely occupied enclosed spaces after the lifting of coronavirus restrictions.

* PLUS500: Online trading platform Plus500’s revenue in the first half nearly quadrupled to 564.2 million pounds ($704.40 million), as it continues to see strong trading volumes in financial markets.

* WHITBREAD: Whitbread first-quarter sales plunged 79% as the COVID-19 lockdown shuttered most of its hotels in Britain and Germany.

* HALFORDS: British motor and cycling products retailer Halfords said underlying sales fell 6.5% in its first quarter with a rampant performance in bicycles during the lockdown more than offset by weakness in motoring.

* REACH: British newspaper publisher Reach said it would cut about 550 jobs – 12% of its workforce.

* OIL: Oil prices fell, erasing earlier gains, on concerns that the surge in coronavirus cases in the United States, the world’s biggest oil user, will limit a recovery in fuel demand.

* GOLD: Gold prices held steady near an eight-year high as investors weighed a spike in COVID-19 cases around the world.

* METAL: Copper prices rose as a rebound in U.S. services industry activity reinforced hopes of a swift global economic recovery.

* The UK blue-chip index closed 2.1% higher on Monday, on hopes of more stimulus to kickstart a battered global economy, while homebuilders jumped on a report of stamp duty cuts.

* For more on the factors affecting European stocks, please click on:

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Tapanjana Rudra)


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