UK Stocks -- Factors to watch on July 16
LONDON, July 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening steady on Thursday, according to financial bookmakers, ahead of quarterly earnings from JPMorgan Chase (JPM.N), IBM (IBM.N) and Google GOOG.N.
The UK benchmark closed up 108.78 points, or 2.6 percent at 4,346.46 on Wednesday, its third day of gains as strong U.S. corporate results and improving U.S. economic data lifted sentiment. U.S. stocks jumped on Wednesday, with the S&P 500 .SPX having racked up its three best days since March, sparked by results from bellwether Intel Corp (INTC.O) that lifted hopes for a rebound in technology spending and improved corporate profitability.
On the economic front, China's growth rate shot up in the second quarter on the back of a surge in state spending and bank lending, boosting hopes the biggest emerging economy will lead the way out of the worst global downturn since the 1930s. [ID:nSP537580] In Asia, Japan's Nikkei average .N225 was up 1.2 percent.
However, CIT Group CIT.N, a lender to hundreds of thousands of small and mid-size U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy. [ID:nN15377230]
* S&P has best 3 days since March on earnings optimism [ID:nN15362393]
* Nikkei up 2.2 pct on US earnings hopes, Mazda jumps [ID:nT92911]
* Asian stocks power to one-month high [ID:nLG638636]
* Oil steadies above $61 amid caution on economic recovery [ID:nSYD537880]
* Euro falls vs yen on profit-taking after rally [ID:nT267120]
* Prices fall on hopes of economic recovery [ID:nN15595292]
UK stocks to watch on Thursday are:
VEDANTA RESOURCES (VED.L)
Indian metals producer Sterlite Industries (STRL.BO) is raising about $1.5 billion in an issue of American Depositary Receipts, with parent Vedanta Resources to buy $500 million, a person familiar with the matter said. [ID:nBMA003352]
