UK Stocks - Factors to watch on Aug 8
LONDON, Aug 8 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening down 20 points on Friday, according to financial bookmakers, having closed 8.6 points, or 0.2 percent lower at 5,477.5 in the previous session. Overnight, U.S. stocks tumbled on fears of more fallout from the credit crisis, with Wal-Mart's (WMT.N) cautious sales forecast adding to concerns about consumer spending.
Japan's Nikkei .N225 traded 0.7 percent higher, with exporters supporting.
UK financials are set to be in focus ahead of the weekend break, with Royal Bank of Scotland (RBS.L) (RBS) due to announce first half earnings.
"What we do have today are the interims from RBS and although they are expected to post a significant loss -- with this already factored into the share price -- any positive sentiments regarding the outlook could be well received by the market," said Paul Webb, chief dealer at CMC Markets.
Also on the corporate diary, Fannie Mae (FNM.N) is set to release earnings data on Friday, following on from disappointing results from mortgage-finance cousin Freddie Mac (FRE.N) on Wednesday.
Heavyweight oil shares may also feature among the UK bluechip's early movers and shakers, with U.S. crude CLc1 at about $119 a barrel.
But one day after the Bank of England's decision to hold interest rates steady at 5 percent, investors will be hard pushed to find any economic data offering meaningful direction.
* US STOCKS-AIG, Wal-Mart spark sell-off on Wall Street [ID:nN07352729]
* Japan Nikkei turns positive, exporters gain on yen [ID:nT361460]
* Oil near $120 on Turkey oil pipeline blast [ID:nSP190650]
* TREASURIES-Bonds rally on weak economy, strong auction [ID:nN07333811]
* GLOBAL MARKETS-Dollar rallies on dim global growth outlook [ID:nSP228769]
UK stocks to watch on Friday are:
LONMIN (LMI.L), XSTRATA (XTA.L)
M&G, the biggest shareholder in Lonmin with 17 percent, has rebuffed Xstrata's hostile offer, which values the London-based platinum producer at 5 billion pounds, reported the Financial Times.
BRITISH AIRWAYS (BAY.L)
British Airways is planning to make an application early next week to the U.S. Department of Transport that could allow the flag carrier closer links with American Airlines, reported the Daily Mail.
SCOTTISH & SOUTHERN (SSE.L)
Energy companies are set to increase prices despite the steep slide in the price of gas, reported the Times, with Scottish Power SPW.PZ, EON EONG.DE, npower and Scottish & Southern Energy (SSE.L) are among those expected to announce double-digit price rises in the coming days.
WOOLWORTHS WLW.L
The Iranian property tycoon Ardeshir Naghshineh has further increased his stake in Woolworths, fuelling speculation that he may be about to mount a bid for the retailer, reported Daily Telegraph. Also, The Times reported that the Takeover Panel was believed to have contacted Naghshineh to clarify his intentions amid speculation that he has been looking to organise a bid consortium after he raised his stake.
DIAGEO (DGE.L)
Diageo is planning to install a 65 million pound bio-energy plant at its largest whiskey distillery that will turn 90,000 tonnes of "spent wash" - a mixture of wheat, malted barley, yeast and water - into steam and electrical power, reported The Guardian.
RYANAIR (RYA.I) (RYA.L)
Ryanair boss Michael O'Leary is interested in launching a 2 billion pound bid for Stansted airport and proving to BAA and the regulators that he can run it much better than they can, The Daily Telegraph reported.
ROYAL BANK OF SCOTLAND (RBS.L)
The bank is due to announce its first half earnings.
SCHRODERS (SDR.L)
The British fund manager is due to announce first half earnings.
TODAY'S UK PAPERS
> Financial Times [PRESS/FT]
> Other business headlines [PRESS/GB]
(Reporting by Michael Taylor)
