LONDON, June 24 (Reuters) - Britain's FTSE 100 .FTSE is seen opening
modestly higher by financial bookmakers on Wednesday, following small gains in
Asia, but moves are set to be tentative ahead of a Federal Reserve interest rate
decision.
The blue chip index is seen opening 11 to 14 points higher or up as much as
0.3 percent after closing 4.03 points lower at 4,230.02 on Tuesday.
The Fed is widely expected to keep interest rates on hold at a record low
and keep its planned debt purchases unchanged, so the focus will be on whether
the bank tweaks its statements to reign in the slide in U.S. Treasuries that
threatens the economy's budding recovery. [ID:nN22496767]
Japan's exports continued to tumble in May, further evidence that the
recovery in the global economy, that some investors have been expecting, is some
way off. [ID:nSP467098]
Ahead of the Fed decision, which is made after European markets close,
investors will look to UK and U.S. data for more evidence of possible recovery
in the domestic and global economy.
The Confederation of British Industry distributive trades data is released
at 1000 GMT while U.S. new home sales will be announced at 1400 GMT.
Experian (EXPN.L), Friends Provident FP.L and Invensys (ISYS.L) are all
set to fall after going ex-dividend.
* US STOCKS-S&P gains on bargain hunting; Boeing hits Dow [ID:nN2392310]
* TREASURIES-Dip in Asia after 3-day rise, Fed eyed [ID:nT172726]
* Dollar sits on losses ahead of Fed, yen loses ground [ID:nT171216]
* Nikkei edges down before Fed; resource shares up [ID:nT58145]
* GLOBAL MARKETS-Asia stocks recover from 1-month low [ID:nHKG172336]
* Oil falls below $69 on build in U.S. gasoline stocks [ID:nSIN545362]
* PRECIOUS-Gold softens as Fed eyed, ETF unchanged [ID:nT166565]
* METALS-Copper gains as dollar dips, awaits Fed decision [ID:nMAN132395]
UK stocks to watch on Wednesday are:
ANGLO AMERICAN (AAL.L)
Takeover interest in the miner has revived the prospect of a sale of heavy
building materials group Tarmac, its most out-of-place division, The Financial
Times said.
MARKS & SPENCER (MKS.L)
Boardroom tensions at the retailer have heightened over the timing of Stuart
Rose's departure, with deputy chairman, David Michels putting himself forward as
a candidate to replace Rose as chairman, The Financial Times said.
GLAXOSMITHKLINE (GSK.L)
The drugmaker said that the U.S. Food & Drug Administration declined to
approve its nausea drug Rezonic. [ID:nWEN0888]
VODAFONE (VOD.L)
The mobile telecoms firm is moving its headquarters to London, almost 20
years after the group started life in the provincial market town of Newbury in
Berkshire, The Financial Times said.
BRIT INSURANCE (BRE.L)
The insurer has dropped its proposed offer for Chaucer Holdings as its board
determined it was not in the best interests of shareholders. [ID:nWLA7269]
SUPERMARKETS
Tesco (TSCO.L) is closing the gap on faster-growing smaller rivals and there
are some signs that shoppers are reverting to pre-recession shopping habits a
survey from TNS showed late on Tuesday. [ID:nLN470143]
Meanwhile upmarket food retailer Waitrose [JPL.UL] has seen a surge in sales
and shopper numbers since the launch of its new "essentials" range of staple
products, market researcher Nielsone said on Tuesday.
HSBC (HSBA.L)
Vietnam's largest insurer Bao Viet Holdings, 10 percent owned by HSBC, said
its January-May gross profit already exceeded projections for the whole of the
this year. [ID:nHAN130292]
STAGECOACH (SGC.L)
The transport company releases its preliminary results.
KESA ELECTRICALS (KESA.L)
The retailer releases its preliminary results.
TODAY'S UK PAPERS
> Financial Times [PRESS/FT]
> Other business headlines [PRESS/GB]
(Reporting by Simon Falush)
