February 4, 2020 / 7:52 AM / 21 days ago

UPDATE 1 - UK Stocks - Factors to watch on Feb. 4

(Adds company news items and futures.)

Feb 4 (Reuters) - Britain’s FTSE 100 index is seen opening 42 points higher on Tuesday, according to financial bookmakers, with futures up 0.7% ahead of the cash market open.

* BP: BP Plc raised its dividend and announced the completion of a $1.5 billion share buyback programme in a sign of confidence in its growing oil and gas business on the last day in office for Chief Executive Officer Bob Dudley.

* FERGUSON: Plumbing parts distributor Ferguson Plc said it is considering a primary or additional listing of its shares in the United States, its biggest market, following the demerger of its UK Wolseley business this year.

* GLENCORE: Commodity miner and trader Glencore Plc reported a 9% fall in fourth-quarter copper production, as its Mutanda mine in the Democratic Republic of Congo suspended operations prematurely in November.

* SHELL: Royal Dutch Shell said it has temporarily suspended production at its Prelude liquefied natural gas (LNG) facility off northwest Australia on Feb. 2 following an electrical trip.

* WIZZ AIR: Wizz Air Holdings Plc’s largest shareholder, private equity firm Indigo Partners, sold about 12.5 million shares of the low-cost airline, at a 3.5% discount to Monday’s close, according to the bookrunner.

* OIL: Oil prices rose, matching moves in other financial markets, as investors regained calm after Monday’s sharp sell-off on fears of the impact of the China coronavirus on demand for fuel sent crude to its lowest level in more than a year.

* GOLD: Gold prices were little changed as a firm dollar countered concerns about a rapidly spreading coronavirus outbreak in China and its economic fallout.

* London’s main share index bounced back from a seven-week low on Monday, as strong U.S. economic data kept in check worries about the coronavirus, but gains for UK-focused midcaps were limited by concerns about the possibility of Britain having no trade deal in place with the EU by the end of the year.


> Financial Times

> Other business headlines (Reporting by Shanima A and Samantha Machado in Bengaluru)

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