August 21, 2019 / 6:45 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on Aug 21

(Adds company news items, futures)

Aug 21 (Reuters) - Britain’s FTSE 100 index is expected to open 3 points higher at 7,120 on Wednesday, with futures up 0.2% ahead of the cash market open.

* GULF MARINE SERVICES: Offshore oilfield services contractor Gulf Marine Services Plc’s Chief Executive Officer Duncan Anderson has resigned, the company said on Wednesday, as it warned that a reassessment of its ships and contracts had shown annual profit would fall short of previous expectations and be lower than 2018.

* ONESAVINGS: Lender OneSavings, which is merging with rival Charter Court Financial, reported a higher first-half underlying profit, thanks to a strong loan book, though net interest margin shrank further amid pricing pressure.

* ASTRAZENECA: London-listed drugmaker AstraZeneca Plc said its immunotherapy treatment Imfinzi did not meet the main goal of a late-stage study for advanced non-small cell lung cancer.

* INCHCAPE: Car dealership chain Inchcape Plc appointed former Unilever executive Gijsbert de Zoeten as chief financial officer in place of Richard Howes.

* HAMMERSON: Shopping centre operator Hammerson Plc appointed AIG executive James Lenton as its new finance chief, months after saying Timon Drakesmith would step down from the role this year.

* RYANAIR: Belgium’s CNE and ACV PULS trade unions have told members not to comply with a Ryanair request to staff flights affected by a planned strike by Portuguese crew from Wednesday, a letter sent to the airline seen by Reuters showed.

* OIL: Brent crude oil futures rose above $60 a barrel for the first time in over a week after a data report showed a larger-than-expected drop in U.S. crude inventories, but ongoing worries about a possible global recession capped gains.

* GOLD: Gold prices held steady after recovering to above the key $1,500 an ounce level in the previous session, with investors waiting for the minutes of the Federal Reserve’s July meeting for possible clues on further U.S. interest rate cuts.

* MINERS: Iron ore futures in China sank to their lowest in 10 weeks on Wednesday, extending losses along with coke, after mining giant BHP Group gave a downbeat outlook for steelmaking raw material prices.

* London’s main index ended firmly in the red on Tuesday after new U.S.-China trade jitters and political instability in Italy took down heavyweight firms across sectors, while exporter stocks dipped as the pound gained after German Chancellor Angela Merkel’s comments on the Brexit process.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Pushkala Aripaka and Shanima A in Bengaluru)

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