Economy 2 MIN READ

Factors to watch in UK stocks on May 17

May 17, 2023By Reuters

Britain’s FTSE 100 index is seen opening lower on Wednesday, with futures FFIc1 down 0.37%.

* BRITISH LAND: Property firm British Land Co Plc reported a drop in its property valuations, as elevated levels of interest rates and broader economic worries dented sentiment in the commercial real estate sector.

* JD SPORTS: JD Sports Fashion Plc said it expected profit to exceed 1 billion pounds for the first time this year as its offer of trainers, joggers and hoodies continues to chime with young shoppers.

* EXPERIAN: British credit data firm Experian Plc EXPN.L said it expects its annual organic revenue to grow between 4% and 6% on the back of steady demand from businesses and consumers.

* MITCHELLS & BUTLERS: Mitchells & Butlers PLC said its cost outlook in the medium term was improving, while the British pub group reported a rise in sales growth for the past six weeks.

* SAGE: Sage, a British provider of software to small and medium-sized companies, upgraded its full-year organic recurring revenue growth forecast to around 11% after a strong first half.

* SHELL: Shell Plc will use AI-based technology from big-data analytics firm SparkCognition in its deep sea exploration and production to boost offshore oil output, the companies said.

* LSEG: An investor consortium including U.S. buyout firm Blackstone and Thomson Reuters, the publisher of Reuters News, is looking to sell around USD 3 billion worth of shares in the London Stock Exchange Group.

* Britain’s FTSE 100 erased earlier gains and closed lower on Tuesday, as losses in financial and energy stocks coupled with weakness in China-exposed firms weighed.

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

(Reporting by Muhammed Husain and Anandita Mehrotra in Bengaluru; Editing by Dhanya Ann Thoppil)

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