UK Stocks-Factors to watch on Feb. 4

Tue Feb 4, 2014 2:36am EST

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LONDON Feb 4 (Reuters) - Britain's FTSE 100 index is seen opening 36 to 44 points lower, or down as much as 0.7 percent, on Tuesday, according to financial bookmakers.

* At 0730 GMT, futures for Britain's FTSE 100 were down 0.6 percent.

* The UK blue chip index closed 44.78 points lower, or 0.7 percent, at 6,465.66 on Monday.

* BP - BP posted a 37 percent drop in fourth quarter profit due to a weaker performance in both its production and refining businesses and said it would increase the accounting provision for the 2010 oil spill by $200 million.

* BG - Oil and gas producer BG Group, which reported a major profit warning last week due to turmoil in Egypt, reported fourth-quarter earnings of $1.14 billion on Tuesday, in line with analyst forecasts.

* ARM HOLDINGS - The British chip designer met earnings expectations in the fourth quarter as licence sales offset slower growth in royalties from the use of its technology in smartphones made by Apple and Samsung .

* OCADO - British online grocer Ocado posted a wider loss for its 2012-13 financial year, but said it was well positioned for 2013-14 - a year when analysts expect it to make a pretax profit for the first time.

* TRINITY MIRROR - British newspaper publisher Trinity Mirror said 2013 adjusted profit would beat market forecasts after better than expected trade in November and December, but added it would also take some hefty impairment charges.

* British retailers saw a huge increase in overseas Internet shoppers in the fourth quarter of 2013, reflecting investment in their online businesses, industry data showed on Tuesday.

* London copper extended losses into a tenth consecutive session after U.S. manufacturing lost steam in January, stoking some demand concerns and further souring sentiment already tarnished by moderating growth in China.

* The Institute for Supply Management (ISM) said its index of U.S. national factory activity fell to 51.3 last month, its lowest level since May 2013, from 56.5 in December, pointing to some loss of steam in the economy.

* Brent oil hovered at around $106 a barrel on Tuesday as a frigid winter boosted heating oil demand in Europe and the United States, offsetting weak economic data from the United States and China.

TODAY'S UK PAPERS

> Financial Times

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Comments (1)
bertanderson wrote:
Even with all the weakness and unemployment in Europe, the FTSE has had a fantastic run in a short time. BP profits dropping 37% is not a good sign for the future economy.

Feb 04, 2014 4:12am EST  --  Report as abuse
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