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Oil and Gas

UK Stocks-Factors to watch on Nov 7

Nov 7 (Reuters) - Britain’s FTSE 100 index is seen opening lower, with futures down 0.61% on Monday.

* RIO: Canadian miner Turquoise Hill Ltd said it has once again postponed by a week its special shareholder meeting to vote on the proposed take over by Rio Tinto Plc , on a request by the mining giant.

* STRIKE: Three days of strikes by tens of thousands of British rail workers over the next week have been suspended while “intensive negotiations” are held in a long-running dispute over pay and working conditions, said the RMT trade union.

* TAX: British finance minister Jeremy Hunt plans to set out on Nov. 17 up to 60 billion pounds ($67.82 billion) of tax rises and spending cuts, including at least 35 billion pounds ($39.56 billion) in cuts, the Guardian reported on Sunday.

* HSBC: HSBC said that it had revised down its forecasts for UK interest rates in the current tightening cycle, and now sees just two more increases.

* OIL: Oil prices fell more than $1 a barrel after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach.

* GOLD: Gold prices slipped from a three-week high scaled in the previous session, as the U.S. dollar regained some ground.

* FTSE: Britain’s blue-chip shares marked their best week in almost two years on Friday, with miners and Asia-exposed stocks getting a lift from hopes that China would relax its COVID-19 restrictions.

* For more on the factors affecting European stocks, please click on:

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Anchal Rana in Bengaluru; Editing by Savio D’Souza)

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