UK Stocks - Factors to watch on Aug 13

Wed Aug 13, 2008 2:05am EDT
 
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 LONDON, Aug 13 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening
18-25 points lower on Wednesday, according to financial bookmakers, having
closed down 7.3 points, or 0.1 percent at 5,534.5 in the previous session.
 The UK's bluechip index is seen tracking U.S. and Asian markets lower, after
bank shares tumbled on Wall Street overnight as worries about credit losses
dragged.
 In commodities, plummeting metal prices XAU= MCU3= may drag mining
shares into negative territory, while heavyweight oil companies may also feature
with U.S. crude CLc1 at $113 a barrel.
 "It seems to be a question of whether this downbeat sentiment leaks into
other sectors that will help determine precisely how markets perform in the
coming hours and maybe days but we also have an increase in fundamental news
too," said Paul Webb, chief dealer at CMC Markets.
 On the economic calendar, the Bank of England's quarterly inflation report
due at 0930 GMT may offer market direction, while U.S. retail sales numbers for
July from 1230 GMT could give further economic indicators.
 Six FTSE 100 companies will no longer qualify for the latest dividend
payout, taking 8.06 points off the index, including BP Group (BP.L) and Standard
Chartered (STAN.L).
 
 * US STOCKS-Worries about credit losses weigh on Wall Street [ID:nN12517871]
 * Nikkei down 2.2 pct on GDP, global economy worries         [ID:nT99331]
 * Oil pauses after fall on steep US oil demand drop          [ID:nSIN72567]
 * TREASURIES-Futures rise in Asia as credit worries support  [ID:nT66784]
 * GLOBAL MARKETS-Asia stocks fall on global growth fears     [ID:nSP165666]
 
 UK stocks to watch on Wednesday are:
 
 ROYAL BANK OF SCOTLAND (RBS.L)
 Commonwealth Bank of Australia Ltd (CBA) (CBA.AX) said on Wednesday it was
pulling out of talks with Royal Bank of Scotland to buy ABN AMRO Australia.
[ID:nSYD140346]
 
 VODAFONE (VOD.L)
 Ghana's government resubmitted Vodafone Group's $900 million offer for Ghana
Telecom to parliament on Tuesday in the face of growing opposition to the deal,
as politicians vie for position in the run-up to elections. [ID:nLC188018]
 
 RIO TINTO (RIO.L)
 Global miner Rio Tinto will sign an agreement with India's NMDC (NMDC.BO) to
prospect for iron ore, the chairman of the state-run Indian company said on
Wednesday.
 
 BP (BP.L)
 TNK-BP has bought a 25 percent stake of a Siberian power plant from OGK-1,
one of Russia's biggest power companies, reported the Financial Times.
 
 BRITISH AIRWAYS (BAY.L)
 Passenger traffic at Spain's Iberia (IBLA.MC) fell 1.4 percent year-on-year
in July it said on Tuesday, as domestic traffic tumbled 26.7 percent after it
cut flights and faced competition from a new Madrid-Barcelona train.
[ID:nMDT005495]
 
 IMPERIAL ENERGY IEC.L
 Russian oil producer Imperial Energy, which is in the sights of China's
Sinopec Group and India's ONGC (ONGC.BO), could be sold within days, a source
familiar with the situation said on Wednesday. [ID:nHKG90266]
 
 ANGLO AMERICAN (AAL.L)
 Anglo American is studying a project to double iron ore output from its
Minas-Rio system of mines in southeastern Brazil, which is currently at 26.6
million tonnes a year, a company official said on Tuesday.
 
 BRITISH ENERGY BGY.L
 The firm is due to announce its first quarter earnings.
 
 THOMAS COOK GROUP (TCG.L)
 The firm is due to issue a third quarter trading update.
 
 BALFOUR BEATTY (BALF.L)
 The firm is due to announce first half earnings.
 
 TODAY'S UK PAPERS
 > Financial Times                      [PRESS/FT]
 > Other business headlines             [PRESS/GB]
 
 (Reporting by Michael Taylor)






 
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