June 3, 2020 / 6:57 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on June 3

(Adds news items)

June 3 (Reuters) - Britain’s FTSE 100 index is seen opening higher on Wednesday, with futures up 1% ahead of the cash market open.

* TUI GROUP: TUI said it had struck a deal with Boeing for compensation and slower delivery of the 737 MAX plane, helping its finances during the coronavirus pandemic.

* WIZZ AIR: Wizz Air grew profits by 30% in the year to the end of March 2020, but said that it could not provide guidance for this year because of the COVID-19 pandemic that has heavily restricted air travel.

* SSP: SSP launched a shares for dividend deal, aimed at having shareholders reinvest this year’s 6 pence per share payout in the company, as it swung to a first-half loss due to coronavirus-led store closures.

* CHEMRING GROUP: Chemring stood by its annual targets and raised its dividend as it posted a jump in half-year profit, managing to win new orders from the United States despite the coronavirus crisis.

* OFGEM: Britain’s energy market regulator Ofgem set out on Tuesday a scheme to make a total of 350 million pounds ($440 million) available to support energy suppliers that do not have an investment grade credit rating.

* OIL: Oil rose, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand.

* UK shares ended at near three-month highs on Tuesday amid continued bets on government stimulus and easing lockdowns helping a swifter economic recovery from the coronavirus crisis.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Shanima A and Indranil Sarkar in Bengaluru; Editing by Shailesh Kuber)

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