UK Stocks -- Factors to watch on Jan 14
LONDON, Jan 14 (Reuters) - Britain's FTSE 100 .FTSE index was seen edging lower on Friday, following weakness overnight on Wall Street, with mining stocks likely to be hurt by falling commodity prices.
The blue-chip index looked set to shed 6-10 points, or as much as 0.2 percent, according to financial bookmakers, having slipped 26.84 points, or 0.4 percent, to 6,023.88 on Thursday, after hitting a 31-month closing peak on Wednesday.
"If a series of lower tops and lower bottoms begins to develop, then the FTSE may be poised for the start of a sizeable correction," James Hyerczyk, an analyst at Autochartist, said in a note.
"Based on the main range of 5,519.19 to 6,090.49, the first major downside objective has been identified as 5,804.84 to 5,737.43," he said.
After the close on Wall Street on Thursday, Intel Corp (INTC.O) reported better than expected quarterly earnings and forecast strong revenue for the coming quarter. Its shares added 2.7 percent in extended trading.
JPMorgan's (JPM.N) fourth-quarter earnings are due for release on Friday.
In terms of domestic economic data, December PPI figures were scheduled for 0930 GMT.
Investors were awaiting a raft of U.S. data, including: December consumer prices and December retail sales figures at 1330 GMT, December industrial output numbers at 1415 GMT, the January preliminary Reuters/University of Michigan consumer sentiment survey at 1455 GMT, and November business inventories, at 1500 GMT.
* GLOBAL MARKETS-Euro steadier after bounce, stocks ease [ID:nL3E7CD1YP]
* Merck, materials drag Wall St lower, Intel up late [ID:nN13106091]
* Nikkei slips; options settlement triggers profit taking [ID:nTOE70D020]
* Treasury prices ease, market eyes U.S. CPI [ID:nTOE70D01S]
* Euro slips a tad after surge on debt sales, Trichet [ID:nTOE70D026]
* Gold regains strength, firm euro may cap gains [ID:nL3E7CD011]
* Copper edges lower on China policy, demand concerns [ID:nL3E7CE03E]
* Brent oil trades above $98, US crude down on jobless claims[ID:nL3E7CE09J]
Stocks to watch on Friday:
An experimental malaria vaccine from Glaxo provides African children with long-lasting protection, though its effectiveness declines slightly over time, according to trial data published on Friday. [ID:nLDE70C1OR]
SMITH & NEPHEW (SN.L)
U.S. orthopaedics giant Biomet (ESKr.AT) is set to begin informal talks with Smith & Nephew about a potential 15 billion pound ($23.63 billion) merger that would scupper the ambitions of Johnson & Johnson (JNJ.N) which has been stalking the group with a possible cash offer, the Daily Telegraph said.
BOVIS HOMES GROUP (BVS.L)
The housebuilder issues a trading update.
HILTON FOOD GROUP (HFG.L)
The meat-packaging company issues a trading update.
SMITHS NEWS (SNWS.L)
The newspaper and magazine distributor issues a trading update.
SUPERGLASS HOLDINGS (SPGH.L)
The manufacturer of glass fibre insulation products holds its AGM.
The electrical engineer issues a trading update.
TED BAKER TBK.L
The designer brand issues a trading update.
TODAY'S UK PAPERS
> Financial Times [PRESS/FT]
> Other business headlines [PRESS/GB]
(Reporting by Tricia Wright; Editing by Dan Lalor)
- Tweet this
- Share this
- Digg this