Economy 2 MIN READ

UK Stocks: Factors to watch on May 5

May 5, 2023By Reuters

Britain’s FTSE 100 index is seen opening higher on Friday, with futures up 0.4%.

* SHELL: Ithaca Energy Plc said it signed an agreement with Shell UK to market the oil major’s 30% stake in the Cambo oil prospect in the British North Sea.

* IHG: Holiday Inn owner IHG Plc said its CEO Keith Barr would
step down on June 30 and the company’s Americas CEO Elie Maalouf would succeed him.

* IAG: British Airways-owner IAG said strong ticket sales for summer travel and a winter season which, beat expectations, meant 2023 profit would come in above its previous forecasts.

* CAPITA: British outsourcing company Capita has confirmed to pension clients that some data it processed was likely to have been hacked during a recent cyber incident, the Financial Times reported.

* IAG: International Airlines Group’s Spanish airline Iberia named Fernando Candela as its new acting president and chief executive officer, replacing Javier Sanchez-Prieto.

* STRIKES: Britain’s RMT trade union said on Thursday railway workers had voted in favour of further strike action in a new ballot as part of a long-running pay dispute with train operating companies.

* OIL: Oil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening US economy and slowing Chinese demand.

* London’s FTSE 100 hit a one-month low on Thursday as a smaller interest rate hike by the European Central Bank did little to lift sentiment dampened by concerns about the banking sector, while Shell gained after posting upbeat earnings.

(Reporting by Muhammed Husain in Bengaluru)

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