Company News

UPDATE 1-UK Stocks-Factors to watch on Nov 6

(Adds company news items and futures)

Nov 6 (Reuters) - Britain’s FTSE 100 index is seen opening 5 points higher at 7,109 on Tuesday, according to financial bookmakers, with FTSE 100 futures up 0.14 percent ahead of the cash market open.

* AB FOODS: Associated British Foods said price pressures in the global sugar market would prevent its earnings from growing in the coming 12 months as the drag on the business offsets strong demand for its fashion retailer Primark.

* MORRISONS: Morrisons, Britain’s fourth largest supermarket group, on Tuesday reported a 5.6 percent rise in quarterly underlying sales, though its rate of growth was slightly behind forecasts and a touch slower than in the previous period.

* RANDGOLD RESOURCES: Randgold Resources said on Tuesday third-quarter profit rose 25 percent on the previous quarter helped by lower costs a day before its shareholders vote on a $6.1 billion tie-up with Barrick Gold.

* IMPERIAL BRANDS: British tobacco firm Imperial Brands reported higher full-year revenue and better-than-expected adjusted profit, helped by market share gains.

* DS SMITH: Packaging company DS Smith said it expects adjusted operating profit for the first half of the year to be “materially ahead” from last year as it was able to raise prices to offset higher production costs.

* PROVIDENT FINANCIAL: Sub-prime lender Provident Financial Plc said on Tuesday it appointed Simon Thomas as chief finance officer, with effect from Dec. 3.

* DIRECT LINE: Britain’s largest motor insurer Direct Line Insurance Group reported a 5.8 percent drop in quarterly gross written premiums on Tuesday, hurt by lower average premiums for motor insurance policies and increased competition.

* WILLIAM HILL: British bookmaker William Hill Plc WMH.L on Tuesday forecast lower full-year operating profit, as the company’s retail business continued to be challenged by deteriorating conditions on the high street.

* Britain’s Co-operative Bank reported a loss before tax of 87 million pounds ($113.60 million) for the first nine months of its financial year as it battles to turn around performance after a restructuring and recapitalisation in June last year.

* ROLLS ROYCE: China Eastern Airlines said on Tuesday it had signed a 10.13 billion yuan ($1.5 billion) engine and maintenance agreement with Rolls-Royce.

* PADDY POWER BETFAIR: The National Hockey League on Monday announced that FanDuel Group, a unit of Paddy Power Betfair PLC, would be an official sports betting partner.

* LLOYDS: Lloyds Banking Group Plc will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound ($3.91 billion) investment, Sky News reported on Monday.

* RANDGOLD, BARRICK GOLD: If all goes according to plan, Barrick Gold will have fewer mines and workers one year after acquiring Africa-focused Randgold Resources, the Canadian miner’s executive chairman said on Monday, as its investors approved the deal.

* EASYJET: Britain’s exit from the European Union next year should not lead to flight disruption, even in the case of a no-deal, Easyjet’s Chief Executive said on Monday.

* GOLD: Gold prices were steady early Tuesday ahead of U.S. midterm elections that may fuel interest in the metal as a hedge against risk if the result sparks volatility in wider financial markets.

* OIL: Oil prices slipped on Tuesday, weighed down by exemptions from Washington that will allow Iran’s biggest oil customers to keep buying from Tehran, as well as concerns that an economic slowdown may curb fuel demand growth.

* The UK blue chip index closed up 0.1 percent in choppy trade on Monday as leading software group MicroFocus surprised with a robust revenue outlook and Evraz was boosted by gains in steel prices in China.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar and Siju Varghese in Bengaluru)