UK Stocks -- Factors to watch on Nov 6

Thu Nov 6, 2008 1:43am EST
 
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 LONDON, Nov 6 (Reuters) - Britain's FTSE 100 .FTSE index
is seen opening as much as 2.7 percent lower on Thursday ahead of the Bank of
England's interest rate decision, according to financial bookmakers, tracking
weakness in the U.S. and Asian markets on worry of a deep recession.
 U.S. stocks plummeted on Wednesday, a day after Barack Obama's historic
victory in the U.S. presidential election, as a fresh batch of dismal economic
data underscored the massive challenges awaiting his administration. In Asia,
Japan's Nikkei average .N225 lost 6.5 percent.
 Cisco Systems (CSCO.O), a technology bellwether, said after the close of
regular trading that fallout from the United States' economic problems had now
spread to key markets abroad and its revenue could fall as much as 10 percent in
the current quarter.
 Financial bookmakers expected the UK benchmark to open down 115 to 124
points after closing 2.3 percent lower on Wednesday to snap a six-session
winning streak.
The Bank of England is widely expected to cut interest rates from its
current 4.5 percent when it announces its decision at 1200 GMT. The European
Central Bank will come out with its rate verdict at 1245 GMT.
 * US STOCKS-Market sinks on economic gloom; Cisco warns late  [ID:nN05354427]
 * Nikkei slides over 6 pct as exporters sold on yen           [ID:nTFD003051]
 * GLOBAL MARKETS-Asia stocks sink as recession fears overwhelm [ID:nL6537266]
 * Euro, sterling fall on rate cut expectations                    [ID:nT6994]
 * Oil extends decline below $65 on economic woes              [ID:nSYD166191]
 * Gold extends losses on dollar; eyes rate cut, data           [ID:nSP421889]
 
 UK stocks to watch on Thursday are:
 HBOS HBOS.L, LLOYDS TSB (LLOY.L)
 The mortgage lender accused a Scottish lawmaker of treating the bank as a
"potential plaything" on Wednesday after he said a rival bid to its planned
takeover by Lloyds TSB could emerge within a week. [ID:nL5535226]
 Separately, the Guardian said Lloyds executives have yet to disclose whether
they intend to use their own money to back the fundraising the bank is
undertaking as part of its rescue takeover of HBOS and to meet the government's
demand to bolster its balance sheet.
 
 XSTRATA (XTA.L)
 Xstrata and the union representing workers at the Kidd metallurgical
operations in Canada have reached a tentative deal to end a strike that began
over a month ago, a union official said on Wednesday. [ID:nN05365916]
 
 ASTRAZENECA (AZN.L)
 AstraZeneca's powerful cholesterol fighter Crestor will take centre stage at
the American Heart Association scientific meeting in New Orleans next week as
doctors and investors await details of a study that was halted early because the
drug had cut death rates. [ID:nN05537475]
 
 CENTRICA (CNA.L), BRITISH ENERGY BGY.L
 British Gas-owner Centrica is in talks with its banks over a new syndicated
loan to part-finance its potential acquisition of a 25 percent stake in British
Energy, banking sources said on Wednesday. [ID:nL5414968]
 
 HOME RETAIL (HOME.L)
 Home Retail said Meristem Holdings, a major supplier fo "flat-pack"
furniture products to the group, had been placed in administration and that the
financial impact on the group would clearly be dependent on the outcome of
Meristem's administration as well as the group's review of alternative sources
of supply. [ID:nWLB2898]
 
 TAYLOR WIMPEY (TW.L)
 Lenders to Taylor Wimpey are considering basic terms for restructuring the
struggling construction company's finances that would give it breathing space to
trade through the credit crisis until 2012, the Financial Times said.
 
 ROYAL DUTCH SHELL (RDSa.L) (RDSb.L)
 Shell Oil said on Wednesday that its operated production in the Gulf of
Mexico was not about 375,000 barrels of oil equivalent per day following
Hurricane Ike. [ID:nN05350879]
 
 SHIRE (SHP.L)
 Shire said it had settled former TKT shareholder appraisal rights
litigation. [ID:nWNAB8335]
 
 BP (BP.L)
 BP Alternative Energy, a unit of oil group BP, has pulled out of a
partnership in a wind farm project with a subsidiary of Goldwind Science &
Technology (002202.SZ), Goldwind said on Thursday. [ID:nSHA27353]
 
 SMITH & NEPHEW (SN.L)
 The medical device maker is due to announce its third-quarter results.
 
 VEDANTA RESOURCES (VED.L)
 The miner is due to announce its first-half results.
 
 OLD MUTUAL (OML.L)
 The insurer is due to issue its trading update.
 
 INVENSYS (ISYS.L)
 The company is due to announce its first-half results.
 
 MAN GROUP (EMG.L)
 The hedge fund is due to announce its first-half results.
 
 3I (III.L)
 The private equity group is due to announce its first-half results.
 
 RSA INSURANCE (RSA.L)
 The insurer is due to issue its trading update.
 
 TATE & LYLE (TATE.L)
 The company is due to announce its first-half results.
 
 TOMKINS (TOMK.L)
 The company is due to issue its trading update.
 
 MAPELEY MAY.L
 The company is due to issue its trading update.
 
 MILLENNIUM & COPTHORNE HOTELS (MLC.L)
 The hotelier is due to announce its third-quarter results.
 
 RANDGOLD RESOURCES (RRS.L)
 The company is due to announce its third-quarter results.
 
 TODAY'S UK PAPERS
 > Financial Times                      [PRESS/FT]
 > Other business headlines             [PRESS/GB]
 
 (Reporting by Dominic Lau; Editing by Greg Mahlich)







 

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