Get 40% Off
💰 Warren Buffett reveals a $6.72 billion stake in ChubbCopy Portfolios

UK Stocks -- Factors to watch on August 17

Published 08/17/2009, 01:58 AM
Updated 08/17/2009, 02:03 AM
UK100
-
BATS
-
BARC
-
NWG
-
SOGN
-
TTEF
-
FMG
-
XTA
-
DGE
-
BSBAy
-
RIO
-
AAL
-
PAGE
-
SBRY
-
ITV
-
DGO
-
RMV
-
TGT
-
GC
-
HG
-

LONDON, Aug 17 (Reuters) - Britain's FTSE 100 index is seen opening 11-13 points, or as much as 0.3 percent, lower on Monday, according to financial bookmakers, tracking weakness overnight in Asia and pre-weekend on Wall Street.

The British blue-chip index closed 41.49 points, or 0.9 percent, lower on Friday at 4,713.97 dented by data which showed a weakening in U.S. consumer sentiment, fuelling concerns about the strength of an economic recovery.

U.S. stocks fell broadly on Friday, with the major indexes snapping a four-week streak of gains after the data from the Reuters/University of Michigan Surveys of Consumers showed consumer confidence fell more than expected in early August, dropping to its lowest level since March.

Japan's Nikkei average fell 2.2 percent on Monday, retreating from 10-month highs, with exporters hit as the yen rose against the dollar on concerns about how quickly the U.S. economy will recover.

Japan's economy grew 0.9 percent in April-June from the previous quarter, marking the first expansion in five quarters and in line with a median market forecast for 1.0 percent growth, data showed before the start of trade.

Asking prices for homes in England and Wales are an average 3.1 percent lower this month than a year ago, property web site Rightmove said on Monday.

That matched July's annual fall, but a monthly decline of 2.2 percent this month more than reversed July's 0.6 percent rise from June, leaving the average price of a home at 222,762 pounds.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Britain's economy should return to growth in the second half of 2009, although the speed of recovery will depend on the effect of bank lending constraints and the state of the global economy, Bank of England policymaker Andrew Sentance said in an article for the Sunday Times newspaper. No other British economic data was due for release on Monday so investors will look ahead to the afternoon release of the U.S. Empire State index for August, which is expected to rise to 1.00, up from -0.55 in July, and the U.S. NAHB index for August, which is seen rising to a reading of 18, up from 17 in July.

* Wall St snaps 4-week winning streak as data weighs

* GLOBAL MARKETS-Asian stocks fall on recovery doubts

* Nikkei slides 2.2 percent after rally; yen hurts

* FOREX-Yen up as recovery trades blunted by US data

* TREASURIES-Rise in Asia on U.S. economy outlook

* Oil extends decline below $67 on gloomy econ data

* PRECIOUS-Gold extends losses, sinks towards $940

* METALS-Shanghai copper and zinc fall on LME correction

British stocks to watch on Monday are:

BARCLAYS

Barclays is attempting to recruit five JP Morgan investment bankers with a bonus package worth a total of 30 million pounds, The Sunday Telegraph reported, without citing sources.

Also, Barclays and Societe Generale have received investment banking licences for Saudi Arabia, the Financial Times reported on Monday, quoting the Saudi markets regulator.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

ROYAL BANK OF SCOTLAND

Britain's financial regulator has launched a supervisory review of Royal Bank of Scotland's takeover of ABN Amro, the Scottish bank said on Sunday.

ROYAL DUTCH SHELL

Royal Dutch Shell has made a 1.5 billion pounds ($2.48 billion) approach for Australian coal seam gas producer Arrow Energy, The Sunday Telegraph reported, without citing sources.

BRITISH AMERICAN TOBACCO

The tobacco firm, has recruited Richard Burrows, a former Bank of Ireland chairman, to be its new chairman, The Sunday Times reported, without citing sources.

MINERS

The China Iron and Steel Association (CISA) said on Monday it would negotiate with the three top iron ore miners, using the price it agreed with Australian miner Fortescue Metals Group as a reference.

RIO TINTO

Rio Tinto, Australia's largest iron ore miner, does not see a price pact between smaller rival Fortescue Metals Group

Also, Australian packaging group Amcor Ltd is set to buy Rio Tinto's Alcan packaging unit for $2 billion, Australian media reported Monday.

XSTRATA

The mining giant has redoubled its attempt to win over the investors of its rival and merger target Anglo American, The Guardian said on Monday. Xstrata also hopes that Anglo's new chairman, Sir John Parker, will be more receptive to the benefits of a tie-up than the rest of the board, who have so far been unreceptive to the case presented by its rival, the newspaper added.

BRITISH SKY BROADCASTING

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

BSkyB has written to the BBC Trust expressing serious concerns over the Trust's handling of Project Canvas, a plan drawn up by the BBC in partnership with ITV, BT and Five, which aims to create an internet-connected successor to the Freeview broadcast service, the Financial Times said on Monday.

DIAGEO

The world's biggest spirits group, said on Sunday it was taking legal action against British grocer J Sainsbury, over alleged copyright infringement of its Pimm's brand.

ITV

The broadcaster's target of a 38.5 percent "share of commercial impacts" by the time of the switch to digital in 2012 has so far not been met, the Daily Telegraph said on Monday.

RAYMARINE

The British maker of electronic equipment for boats, has received a takeover approach from Garmin, the No. 1 U.S. navigation device maker, The Sunday Times reported, without citing sources.

ASHTEAD

Britain's largest plant hire company, is set to equip its UK sales force with Apple iPhones, to enable them to provide instant quotes and information about the availability of equipment, The Times said on Monday.

MICHAEL PAGE INTERNATIONAL

The recruitment firm reports first-half results.

HILL & SMITH HOLDINGS

The safety barrier and street lighting group posts first-half results.

DRAGON OIL

The oil explorer posts first-half results.

(Reporting by Jon Hopkins; Editing by Dan Lalor and Simon Jessop)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.