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Funds News

UPDATE 1-UK Stocks-Factors to watch on Nov 12

(Adds company news items, futures)

Nov 12 (Reuters) - Britain’s FTSE 100 index is seen opening 62 points lower at 6,320 on Thursday, according to financial bookmakers, with futures down 0.79% ahead of cash market open.

* ITV: ITV said it expected total advertising revenue to be up in the fourth quarter year on year after it rebounded from the pandemic lows.

* PREMIER OIL: Premier Oil reduced its 2020 production outlook to 61,000-64,000 barrels of oil equivalent per day due to problems at its Catcher field and plans to issue a prospectus in December for its planned merger with bigger rival Chrysaor.

* LEGAL & GENERAL: Legal & General will keep its final dividend payment for 2020 flat due to the impact of the coronavirus pandemic.

* MEDICLINIC: Hospital chain operator Mediclinic International Plc reported an 86% drop in profits for the half year ended Sept. 30, said company.

* B&M: B&M reported a 95% rise in first-half core earnings as its low prices and out-of-town stores chimed with consumers during the COVID-19 pandemic.

* BURBERRY: Burberry said its sales returned to growth in October showing it was recovering from the impact of COVID-19, an improvement from the 6% drop in comparable store sales in the three months ended September.

* ASTRAZENECA: AstraZeneca PLC said its cancer treatment, Calquence, failed to meet the main goal of a mid-stage trial, testing it in patients hospitalized with respiratory symptoms of COVID-19.

* TCS GROUP: Russian lender TCS Group Holding said its third-quarter net income rose 30% year-on-year to 12.6 billion roubles ($163 million) and updated its full-year financial guidance.

* WH SMITH: WH Smith said it has started to see encouraging signs of recovery in North America, where it is opening stores and securing new business.

* NATIONAL GRID: National Grid Plc posted a 12% slide in half-year underlying profit due to coronavirus-related costs and bad debts in the United States, and maintained expectations of a 400 million pound hit this year from the pandemic.

* WILLIAM HILL: Private equity group Apollo Global Management said it does not intend to make any offer to acquire British gambling firm William Hill, which in September agreed to be bought by U.S. casino operator Caesars Entertainment.

* GVC: Ladbrokes and bwin owner GVC Holdings said that it was committed to relying on nationally regulated markets for all of its revenue by 2023 as new boss Shay Segev laid out his plans to transform the group and grow its presence.

* ROLLS ROYCE: Rolls-Royce said shareholders signed up for 94% of new shares it issued as part of a 2 billion pound ($2.64 billion) rights issue aimed at bolstering its pandemic-hit finances.

* GOLD: Gold prices edged higher, after dropping over 1% in the previous session, as concerns over the economic fallout from surging COVID-19 cases outweighed positive vaccine news.

* OIL: Oil prices rose in early trade, taking the week’s gains to more than 12% on growing hopes that the world’s major producers will hold off on a planned supply increase as soaring cases of COVID-19 dent fuel demand.

* The UK blue-chip index closed 1.4% higher on Wednesday as optimism about an effective COVID-19 vaccine offset concerns over surging coronavirus cases and a deadlock in Brexit trade talks with the European Union.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Priyanshi Mandhan)

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