July 2, 2020 / 7:03 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on July 2

(Adds futures, news items)

July 2 (Reuters) - Britain’s FTSE 100 index is seen opening 30 points higher on Thursday, according to financial bookmakers, with futures up 1% ahead of the cash market open.

* DS SMITH: DS Smith reported a 5% rise in annual profit, bolstered by growing demand from e-commerce and consumer goods customers.

* MEGGITT: British engineering company Meggitt on Thursday forecast an about 15% drop in first-half organic revenue as demand from planemakers dried up.

* PREMIER OIL: Premier Oil said it will not acquire the additional 25% interest in the Tolmount gas project from South Korea’s Dana Petroleum.

* MITCHELLS & BUTLERS: Britain’s Mitchells & Butlers posted a first-half loss as pubs were shuttered during the lockdown.

* AB Foods: Associated British Foods said that trading in its Primark fashion stores that have reopened after coronavirus lockdown has been “reassuring and encouraging”.

* ROYAL MAIL: Royal Mail and its largest labour union have agreed to start talks to settle a long-running dispute over pay and operational changes, the former British postal monopoly said on Wednesday.

* BP: BP Plc said it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy.

* OIL: Oil prices rose reversing early losses, as a sharp drop in oil stockpiles outweighed concerns that a spike in U.S. coronavirus infections and revived lockdown measures in California could stall a recovery in fuel demand.

* London’s mid-cap index ended higher on Wednesday on hopes of a potential COVID-19 vaccine, while optimism over fresh stimulus and a pickup in economic activity in the second half of the year persisted.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Shanima A in Bengaluru)

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