Company News

UPDATE 1-UK Stocks-Factors to watch on July 8

(Adds company news items, futures)

July 8 (Reuters) - Britain’s FTSE 100 index is seen opening 7 points lower at 7,546 on Monday, according to financial bookmakers, with futures down 0.21% ahead of the cash market open.

* IMPERIAL BRANDS: British tobacco company Imperial Brands Plc announced plans to buy back shares worth up to 200 million pounds ($251 million) and said it would revise its dividend policy from the next year.

* IAG: British Airways owner IAG said the Information Commissioner’s Office intends to impose a penalty of 183.4 million pounds ($229.78 million) for the theft of customer data from the airline website last year.

* ACACIA MINING: Acacia Mining reported a 19% jump in gold production for the second quarter as output from its Tanzania mine improved, adding pressure on majority shareholder Barrick Gold to revise its buyout proposal.

* XAAR: Xaar Plc said it expects to report a lower revenue in the first-half compared with a year earlier, hurt by inventory being returned to the industrial inkjet technology provider.

* BREXIT: British companies are more worried about Brexit than at any time since the 2016 referendum decision to leave the European Union and they plan to reduce investment and hiring, a survey of chief financial officers showed on Monday.

* OIL: Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some support.

* GOLD: Gold prices inched lower on Monday following a steep fall in the previous session, as robust U.S. jobs report dashed hopes of an aggressive interest rate cut by the Federal Reserve later this month.

* The UK blue chip index closed 0.7% lower on Friday, as stronger-than-expected U.S. employment data tempered hopes of an aggressive interest rate cut by the Federal Reserve and as heavyweight miners fell due to weakness in China’s iron ore futures.

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


> Financial Times

> Other business headlines (Reporting by Samantha Machado and Adil Bhat in Bengaluru; Editing by Arun Koyyur)