April 30, 2020 / 7:02 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on April 30

(Adds company news items)

April 30 (Reuters) - Britain’s FTSE 100 index is seen opening 43 points higher at 6,158 on Thursday, according to financial bookmakers.

* SAINSBURY: British supermarket group Sainsbury’s estimated a profit impact of 500 million pounds from the coronavirus pandemic and said it would defer any dividend payment decisions until later in the financial year.

* HIKMA: Hikma Pharmaceuticals stuck with its full-year revenue forecast for its generic drug business on Thursday, encouraged by high demand for some of its medicines during the COVID-19 pandemic.

* KAZ MINERALS: Copper miner Kaz Minerals on Thursday cut its forecast capital expenditure for 2020 and said production from its Aktogay expansion project in Kazakhstan will be delayed due to coronavirus-driven disruptions.

* SHELL: Royal Dutch Shell cut its dividend for the first time in 80 years and suspended the next tranche of its share buyback programme on Thursday following the collapse in global oil demand due to the coronavirus pandemic.

* JOHN LAING GROUP: Infrastructure firm John Laing Group on Thursday named Ben Loomes as its chief executive officer, effective May 8.

* RECKITT BENCKISER: Reckitt Benckiser Plc on Thursday forecast better than previously anticipated results for 2020 after reporting record quarterly sales growth as customers stocked up on its Lysol disinfectants, Mucinex cough syrup and Dettol soap in coronavirus lockdowns.

* GLENCORE: Glencore on Thursday cut its capital expenditure and production targets in 2020 as the coronavirus worsened the economic outlook and hit its business.

* LLOYDS BANKING: Lloyds Banking Group saw its pretax profit all but wiped out in the first quarter, after becoming the latest lender hobbled by huge provisions against expected bad loans due to the coronavirus pandemic.

* OIL: Oil prices rose on Thursday, building on big gains in the previous session on signs the U.S. crude glut is not growing as fast as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up.

* GOLD: Gold edged lower on Thursday as risk appetite improved after positive trial results of an experimental COVID-19 treatment and a jump in oil prices, while the U.S. Federal Reserve’s vow to support the battered economy underpinned the safe-haven metal.

* EX-DIVS: London Stock Exchange Group will trade without entitlement to its latest dividend pay-out on Thursday, trimming 0.62 points off the FTSE 100 according to Reuters calculations.

* The UK blue-chip index closed 2.6% higher, while midcap stocks gained 3.3% on Wednesday as encouraging news on a potential COVID-19 treatment and a surge in shares of lenders Barclays and Standard Chartered following results added to a strong rally in equities this month.

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


> Financial Times

> Other business headlines

$1 = 0.8015 pounds Reporting by Pushkala Aripaka and Samantha Machado in Bengaluru

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