Company News

UPDATE 1-UK Stocks-Factors to watch on Nov 7

(Adds company news items and futures)

Nov 7 (Reuters) - Britain’s FTSE 100 index is seen opening 33 points higher at 7,074 on Wednesday, according to financial bookmakers, with FTSE 100 futures up 0.31 percent ahead of the cash market open.

* MARKS & SPENCER: Britain’s Marks & Spencer reported a fall in underlying sales in both clothing and food in its first half of the year, hurt by disruption from its latest attempt at a turnaround after more than a decade of failed re-inventions.

* ITV: British commercial broadcaster ITV reported a slightly better-than-expected 2 percent rise in 9-month advertising but said the increasingly uncertain economic outlook would take a toll on the fourth quarter.

* WIZZ AIR: Budget airline Wizz Air downgraded its forecast for full-year profit, blaming higher fuel prices and a summer marred by air traffic control strikes and congested airports.

* PERSIMMON: The boss of Persimmon is to step down after Britain’s second-biggest housebuilder said controversy surrounding his multi-million pound bonus was a continuing distraction which had hit the company’s reputation.

* J D WETHERSPOON: British pub operator JD Wetherspoon Plc warned on Wednesday that it expects trading to be slightly below the previous financial year as it deals with higher costs.

* G4S: British outsourcing firm G4S said on Wednesday it expected flat full-year profit in 2018 after a series of investments, with strong growth in North America and Asia partially offsetting lower revenue growth elsewhere.

* REDROW: Redrow Plc on Wednesday said it welcomed Britain’s extension of its policy to help first-time home buyers, but urged the government to review the lower regional price caps under the prolonged plan.

* BHP: Mining giant BHP Billiton expects some interruption to its Australian iron ore exports after a nearly 3-km-long train loaded with the commodity was forcibly derailed this week after running away en route to a key shipping hub.

* THOMAS COOK: British holiday company Thomas Cook Group Plc said it plans an independent hygiene assessment at any property where some customers fell sick last summer, following the deaths of two British tourists in the Red Sea resort of Hurghada in August.

* EUROTORG: Eurotorg Holdings Plc IPO-ERH.L, the biggest food retailer in Belarus, on Tuesday delayed its plans to list its shares in London, blaming current market conditions.

* GLENCORE: Glencore subsidiary Katanga Mining has halted cobalt exports from its Kamoto Project in Democratic Republic of Congo while it builds a facility to remove uranium, it said on Tuesday.

* GOLD: Gold came off a one-week low to trade higher on Wednesday as investors sought cover from market volatility and uncertainty surrounding the fallout of U.S. midterm elections results.

* OIL: Oil prices dipped on Wednesday as rising output and U.S. sanction waivers that allow Iran’s biggest buyers to keep taking its crude reinforced the outlook for a well-supplied market.

* The UK blue chip index closed down 0.9 percent as the pound strengthened amid renewed optimism over a Brexit deal while investors took risk off the table as Americans went to the polls in midterm elections.

* 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)