UK Stocks -- Factors to watch on Wednesday Sept 22
LONDON, Sept 22 (Reuters) - Britain's top share index is seen up 23 to 28 points at open on Wednesday, according to financial bookmakers, recouping Tuesday's falls as investors take comfort from Federal Reserve comments that it stands ready to provide more support for the U.S. economy.
The FTSE 100 .FTSE is seen gaining 0.5 percent after it closed 26.35 points, or 0.5 percent lower on Tuesday at 5,576.19 on nervousness ahead of the Fed's statement on monetary policy, published after London's close.
In the event, the U.S. central bank nudged the door wider to pumping more money into the economy but kept overnight interest rates unchanged near zero, as expected. [ID:nN20109053]
U.S. stocks initially popped higher after the Fed statement, but gave back those gains quickly and ended flat. Some investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify the measures it would take to stimulate demand.
But Asia ex-Japan stocks .MIAPJ0000PUS rose 0.7 percent to a near two-year high, though trading volumes were thinned out by holidays, while U.S. stock futures SPc1 climbed 0.5 percent as a more generous view of the Fed's comments emerged.
Firmer commodity prices as the dollar retreated in the wake of expectations the Fed would print more of its currency to help the U.S. economy, gave a boost to heavyweight oils and metal issues.
On the macro front, investors will eye the release of minutes from this month's Bank of England Monetary Policy Committee meeting, although the outcome of the votes to leave interest rates and quantitative easing policies unchanged again is likely to be the same as in the previous month.
Across the Atlantic, after Tuesday's Federal Reserve meeting, investors will have the latest weekly U.S. mortgage and refinancing indexes to assess this afternoon, together with the July FHFA Home price index.
Ex-dividend factors will clip 1.19 points off the FTSE 100 index on Wednesday, with Aggreko (AGGK.L), Aviva (AV.L), and Petrofac (PFC.L) all losing their payout attractions.
* GLOBAL MARKETS-Stocks, bonds rise on Fed easing view [ID:nTOE68L00P]
* US STOCKS-Indexes down after Fed, Adobe falls late [ID:nN21186433]
* Nikkei flat after dip; intervention caution buoys [ID:nTOE68L013]
* FOREX-Dollar on skids after Fed, market eyes Japan [ID:nTOE68L00Q]
* TREASURIES-Extend gains in Asia on easing prospects [ID:nTOE68L01V]
* Oil edges higher, supported above $75 by weaker dollar [ID:nSGE68L03B]
* PRECIOUS-Gold steady below record after Fed decision [ID:nSGE68L05U]
* METALS-LME copper ticks up on weak dollar; ShFE closed [ID:nSGE68L02S]
UK stocks to watch on Wednesday are:
IMPERIAL TOBACCO (IMT.L)
The tobacco firm issues a trading update.
The bank's chief Executive Michael Geoghegan has threatened to quit his job if he is not promoted to the chairman's role, the Financial Times said on Wednesday. HSBC is to decide next week on a replacement for Stephen Green, who will step down to become Britain's trade and investment minister in January. [ID:nLDE68K2A5]
The troubled oil giant has recruited City headhunters to find a new head of global communications after coming under fierce criticism over its handling of the Gulf of Mexico oil spill in the media, The Daily Telegraph said.
BHP BILLITON (BLT.L)
China's Sinochem (600500.SS) has appointed Deutsche Bank (DBKGn.DE) and Citigroup to help it evaluate moves to distrupt BHP Billiton's hostile bid for Canada's PotashCorp., The Financial Times said.
The drugmaker sued Swiss rival Roche Holding AG (ROG.VX) on Tuesday for infringing a patent when it produces its cancer drug Herceptin, according to court documents filed on Monday. [ID:nN21197898]
The retailer has relaunched its 'Taste the Difference' upmarket food range in a bid to steal market share from rivals Marks & Spencer (MKS.L) and Waitrose, The Daily Telegraph said.
INTERNATIONAL POWER IPRL.L, CENTRICA (CNA.L)
Centrica is thought to be lining up a counterbid for International Power
which has recently sealed a deal with GDF Suez (GSZ.PA), the Daily Mail's market report said.
RSM TENNON TNO.L
The accounting and business services firm posts full-year results.
SPEYMILL GROUP (SYG.L)
The property services company reports first-half results.
VECTURA GROUP (VEC.L)
The inhaled drug specialist holds its annual general meeting.
(Reporting by Jon Hopkins; Editing by Simon Falush)
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