UK Stocks - Factors to watch on Sept 10
LONDON, Sept 10 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening 50-51 points lower on Wednesday, according to financial bookmakers, having closed 30.7 points, or 0.56 percent lower at 5,415.6 in the previous session.
U.S. stocks plunged overnight, driving the benchmark S&P 500 .SPX to its worst day in one and a half years, as concern about Lehman Brothers' LEH.N ability to raise much-needed capital reignited fears about the financial sector.
Lehman shares sank as much as 46 percent, and in a sign of severity of its predicament the U.S. investment bank brought forward the release of "key strategic initiatives" and quarterly results by a week to 1130 GMT. [ID:nN09337383]
Meanwhile, the Wall Street Journal quoted people familiar with the matter as saying Lehman is in talks with BlackRock Inc (BLK.N) to sell a package of British real estate assets. [ID:nBNG13556]
In the UK, commercial building activity posted its biggest monthly fall in at least five-and-a-half years in August and was set to continue tumbling in the autumn, a key industry survey showed. [ID:nL9442052]
British inflation has not peaked yet and could remain elevated for several months, Bank of England Deputy Governor John Gieve said in a newspaper interview published. [ID:nL9601716]
* Wall Street skids on Lehman worries, energy [ID:nN09313546]
* Nikkei down 1.2 pct after Lehman fears hit Wall St [ID:nTKG003031]
* Brent crude falls below $100nBNG13556 a barrel for 2nd day [ID:nT272289]
* Gold falls to lowest since Oct 2007 on oil, dollar [ID:nT266267]
* Yen near 13-month high vs euro, Lehman eyed [ID:nLA3361]
UK stocks to watch on Wednesday are:
BRITISH ENERGY BGY.L
EDF (EDF.PA) is expected to offer up a package of nuclear sites to rival utilities as part of its 12 billion pounds deal to take over British Energy, the Daily Mail said.
REED ELSEVIER (REL.L)
In a sign of the difficulties still faced by companies trying to sell assets since the credit crunch began last year, Reed Elsevier is offering vendor financing for the sale of its trade publications unit, a source briefed on the matter said. [ID:nN09305617]
ITV (ITV.L)
ITV (ITV.L) Martin Sorrell has advised ITV's most senior executives not to reduce the broadcaster's 1 billion pounds programme budget, despite the pressure on advertising revenues, the Times reported.
AVIVA (AV.L)
Aviva Plc's Dutch insurance unit has about reached a compensation deal with lobby groups about insurance products, the unit said on Tuesday, and the deal could serve as an example for other Dutch insurers. [ID:nL9587495]
TULLETT PREBON (TLPR.L)
Inter-dealer broker GFI Group Inc (GFIG.O) said merger talks with Tullett Prebon PLC, the world's second-biggest interdealer broker, had ended as the rivals failed to agree on the economic terms of a deal. [ID:nBNG221936]
XSTRATA (XTA.L)
Xstrata Copper, Chile's Codelco and China's Tongling are eyeing a potential partnership to develop one of Ecuador's major copper plays, the Panantza-San Carlos copper property owned by Canada's Corriente Resources, government officials told Reuters on Tuesday. [ID:nN09315082]
NEXT (NXT.L)
The retailer is due to announce its first half results.
KESA ELECTRICALS (KESA.L)
The retailer is due to announce its first quarter results.
BARRATT DEVELOPMENTS (BDEV.L)
The housebuilder is due to report its preliminary results.
TODAY'S UK PAPERS
> Financial Times [PRESS/FT]
> Other business headlines [PRESS/GB]
(Reporting by Jon Hopkins)
