UK Stocks-Factors to watch on Monday Feb 13
LONDON |
LONDON Feb 13 (Reuters) - Britain's FTSE 100 share index is expected to open higher on Monday after the Greek parliament approved a deeply unpopular austerity bill needed to secure a second bailout from the European Union and the International Monetary Fund and thereby avoid a chaotic default on its debts.
But traders said that gains on the index, currently hovering around six-month highs, are likely to be limited as serious violence on the streets of Athens serves as a reminder that enduring relief for the Greek economy is far from assured.
The UK benchmark looks set to climb 30 to 32 points, or as much as 0.5 percent, according to financial bookmakers, having closed down 43.08 points, or 0.7 percent, at 5,852.39 on Friday.
A leading business lobby said that Britain's economic growth will gather pace in the second half of this year, making it unlikely the Bank of England will give the economy another cash injection.
In its latest economic forecast, the Confederation of British Industry lowered its forecast for British growth this year to 0.9 percent from the 1.2 percent it predicted in November, though this was in response to an economic contraction recorded in the last three months of 2011.
In a packed week in terms of domestic macroeconomic data, investors will look at releases including British inflation, unemployment, and retail sales numbers, and the February Bank of England inflation report.
Across the Atlantic, no important U.S. data is due on Monday, with the main focus to be the release of minutes from the last Federal Reserve FOMC rate-setting meeting on Wednesday, and the latest U.S. CPI inflation report on Friday.
* GLOBAL-Markets gain as Greece passes austerity bill
* S&P suffers year's biggest loss as Greek deal falters
* Nikkei gains after Greece austerity bill approval
* U.S. bonds slip after Greece plan passes
* Euro gains as Greece passes austerity steps
* Gold rises on Greek austerity bill, off 2-week low
* Copper on front foot, Greece deal fuels rebound
* Brent rises above $118 after Greece passes bill
UK stocks to watch on Monday are:
VODAFONE
The British mobile phone operator is considering a 700 million pound ($1.1 billion) bid for Cable & Wireless Worldwide although no offer is imminent, the Sunday Times reported, citing industry and City of London sources.
Vodafone declined to comment on the article, which also reported that private equity firm Apax was "running the rule over Cable & Wireless Worldwide."
GLENCORE
The commodities trader's boss Ivan Glasenberg will personally champion its proposed $90 billion megamerger with Xstrata to disgruntled investors this week after a series of big-name funds vowed to vote down the tie-up, according to various newspapers.
HSBC
Europe's biggest bank is set to pay its chief executive Stuart Gulliver up to 12.5 million pounds in salary, bonuses and incentive shares for the past year, according to the Sunday Express.
BARCLAYS
Bob Diamond is under pressure from top Barclays investors to "tone down" his bonus amid political and public anger over bankers' pay, the Sunday Times said.
BAE SYSTEMS
Bosses at aerospace group BAE Systems are set to be rewarded with multimillion pound bonuses and share awards, the Sunday Times said.
EASYJET
Easyjet believes it has isolated Sir Stelios Haji-Ioannou, company founder and major shareholder, in a row over the executive pay report at the airline, the Telegraph said.
MITCHELLS & BUTLERS
The chief executive of Novus Leisure is understood to have rejected a possible move to Mitchells & Butlers amid private equity interest in the bars and clubs operator, according to the Times.
FIDESSA GROUP
The trading systems firm reports full-year results.
TELECITY GROUP
The web-hosting group posts full-year results.
MONITISE
The mobile payments firm delivers first-half results.
AMINO TECHNOLOGIES
The digital entertainment solutions group unveils full-year results.
TODAY'S UK PAPERS
> Financial Times
> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by Tricia Wright and Jon Hopkins; Editing by Greg Mahlich)
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