UK Stocks -- Factors to watch on July 6

Mon Jul 6, 2009 2:02am EDT
 
[-] Text [+]
 LONDON, July 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening
6 to 10 points lower on Monday, according to financial bookmakers, reflecting
weak showings in Asia and with the lack of a lead from Wall Street, closed on
Friday for the long Independence Day holiday weekend.
 The UK blue-chip index ended 2.01 points higher on Friday at 4,236.28 in
very thin trade as gains in financials and defensive stocks outpaced declines in
commodity issues.
 Further weakness in oil majors is expected to put pressure on UK blue chips
on Monday with the crude price CLc1 hovering just above $65 a barrel.
 No important domestic data is due on Monday, with the main macro focus this
week on the latest monthly Bank of England Monetary Policy Committee meeting,
although no changes are expected to interest rates or the bank's current
quantitative easing policy when an announcement is made at 1100 GMT on Thursday.
 After last Thursday's disappointing U.S. jobs report, investors will look to
June's ISM non-manufacturing sector index for further clues as to the health of
the economy across the Atlantic on Monday.
 The U.S. corporate earnings season gets under way this week, with results
expected from oil major Chevron (CVX.N) and aluminium producer Alcoa (AA.N).
 "Markets sold off hard on the back of those payroll figures last Thursday so
the potential remains for something of a reversion to be seen but we are now
moving into the slower summer season and so long as the green shoots of recovery
continue to struggle to take root, then equities will likely remain adrift,"
said Matt Buckland, a dealer at CMC Markets.
 
 * GLOBAL MARKETS-Caution rules on world economy before G8   [ID:nSYD390584]
 * Nikkei dips in light trade, awaits earnings, data         [ID:nT326083]
 * Econ doubts support dollar, Nikkei drop boosts yen        [ID:nT259827]
 * TREASURIES-Edge up in Asia on econ view, auctions eyed    [ID:nT325299]
 * Oil falls below $65 on economic gloom                     [ID:nSYD537953]
 * Gold inches down as dlr eyed, ETF unchanged               [ID:nT324767]
 * Copper down 1 pct on econ worries; outlook supports       [ID:nSHA342299]
 
 UK stocks to watch on Monday are:
 
 RIO TINTO (RIO.L)
 The global miner agreed on Monday to sell its Americas food-packaging assets
for $1.2 billion to packaging group Bemis Co Inc (BMS.N), raising yet more
much-needed cash for the indebted miner. [ID:nSYD463954]
 
 BANKS
 The body in charge of Britain's stakes in Lloyds Banking Group (LLOY.L) and
Royal Bank of Scotland Group (RBS.L), will this week downplay expectations of a
quick sale of the shareholdings, according to The Sunday Telegraph. [nL5675462]
 BAE SYSTEMS (BAES.L)
 The U.S. arm of BAE Systems is aiming to broaden its security businesses
further beyond the Defense Department, according to the subsidiary's new boss,
Anthony Zinni, a retired Marine general who commanded U.S. forces in the Mideast
and Central Asia during the 1990s, the Wall Street Journal said on Monday.
 3I GROUP (III.L)
 The private equity group has agreed a rescue deal for VNU Business Media
Europe that will involve HIG Capital taking over half of the Dutch media
company, The Times said on Monday.
 
 MARKS & SPENCER (MKS.L)
 Former M& S chief executive, Sir Richard Greenbury, has strongly criticised
shareholder groups' "vindictive" attitude towards current executive chairman,
Sir Stuart Rose, The Daily Telegraph said on Monday.
 SEVERN TRENT (SVT.L)
 Severn Trent is calling for a radical rethink over water supply, and is
lobbying the government for its trading model concept to be included in the
upcoming flood and water management bill, the Independent on Sunday said.
 CENTRICA (CNA.L)
 Centrica is likely to make a 1 billion pound-plus hostile bid of at least
850 pence a share for oil and gas group Venture Production (VPC.L), The
Independent on Sunday said.
 
 NATIONAL EXPRESS (NEX.L)
 Ray O'Toole, the acting chief executive of National Express, has revealed
the rail operator's intentions to defy Lord Adonis by extending one of its two
remaining rail franchises to 2014, The Observer said.
 SEGRO (SGRO.L)
 The property group has moved a step closer to acquiring Brixton (BXTN.L)
after the former secured a preliminary agreement to purchase its rival for 107
million pounds in an all-share offer, The Daily Telegraph said.
 JJB SPORTS (JJB.L)
 The sporting goods retailer is considering an equity fundraising as one of a
number of ways to provide extra capital, the firm said on Saturday responding to
a report in the Times newspaper that it was looking to raise at least 50 million
pounds ($82.1 million) in a placing and open offer of shares at 12 pence each.
[ID:nL4496272]
 QINETIQ (QQ.L)
 Metrix, the Qinetiq-led consortium behind a planned 12 billion pound
training programme for the armed forces, has denied that there is a 1.3 billion
pound hole in the scheme's funding, the Financial times said on Monday.
 LADBROKES LADB.L
 Ladbrokes will repay a 351 million pound ($576 million) bond later this
month, giving the British bookmaker breathing space to refinance its 900 million
pound debt, The Sunday Telegraph reported. [nL5639995]
 RANK GROUP (RNK.L)
 Despite a number of hindrances such as the introduction of the UK smoking
ban, tax hikes and the overall state of the economy, Ian Burke, the chief
executive of Rank Group, remains optimistic about the bingo and casino company's
future, The Times said on Monday.
 SSL (SSL.L)
 The Durex condom and Scholl footcare firm's chief executive Garry Watts
believes that the company is "pushing on an open door" in its quest to boost its
global sales, the Financial Times said on Monday.
 STERLING ENERGY (SEY.L)
 Argentine oil tycoon Carlos Bulgheroni is behind a bid for London-listed oil
company Sterling Energy (SEY.L), The Sunday Times reported. [nL5664635]
 
 UK REAL ESTATE
 Jadwa Investment, an investment management company part-owned by the Saudi
royal family, is planning to invest a sizeable portion of its assets in British
and American commercial property, according to its chairman Prince Faisal bin
Salman bin Abdulaziz, the Financial Times said on Monday.
 
 EASYJET (EZJ.L)
 The discount airline issues June traffic figures.
 
 ST MODWEN PROPERTIES (SMP.L)
 The real estate firm posts first-half results.
 
 CALEDONIA INVESTMENTS (CLDN.L)
 The investment firm issues a trading update.
 
 MEDIAZEST (MDZE.L)
 The audio-visual technology firm holds its annual general meeting.
 
 MARSTON'S (MARS.L)
 The brewer and pubs group holds an extraordinary general meeting
 
 TODAY'S UK PAPERS
 > Financial Times                      [PRESS/FT]
 > Other business headlines             [PRESS/GB]
 (Reporting by Jon Hopkins; Editing by Hans Peters)






 
Actors Vincent Curatola (L), Steven Van Zandt (C) and Tony Sirico from "The Sopranos" arrive at the 14th annual Screen Actors Guild Awards in Los Angeles January 27, 2008. REUTERS/Mario Anzuoni
Wall St meets "The Sopranos"

Details of an alleged insider trading ring read like the script of a mobster drama, full of coded nicknames, disposable cell phones and paranoia about informants. But in the end, all of the precautions were for naught.  Full Article 

More News

PRESS DIGEST - British business - Aug 11
Tuesday, 11 Aug 2009 12:44am EDT 
UK Stocks -- Factors to watch on August 10
Monday, 10 Aug 2009 01:57am EDT 
PRESS DIGEST - British business - July 6
Sunday, 5 Jul 2009 10:15pm EDT 
PRESS DIGEST - Financial Times - July 6
Sunday, 5 Jul 2009 10:07pm EDT 
Argentine oil tycoon targets Sterling Energy-paper
Sunday, 5 Jul 2009 10:34am EDT 

Featured Broker sponsored link

REUTERS/Chip East
Insider sales not a sell signal this time

Corporate bosses are likely to sell more of their companies' stock through the end of the year, but that does not mean stock prices have reached a peak.  Full Article