September 19, 2018 / 7:04 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on Sept 19

(Adds company news items and futures)

Sept 19 - Britain’s FTSE 100 index is seen opening 11 points higher at 7,312 on Wednesday, according to financial bookmakers, with FTSE 100 futures up 0.21 percent ahead of the cash market open.

* FCA: Britain’s Financial Conduct Authority (FCA) said on Wednesday it had cleared four life insurance companies under investigation for alleged mistreatment of customers after an extended review of standards in the sector.

* KPMG: Britain’s accounting watchdog said on Wednesday KPMG, one of the world’s “Big Four” accounting firms, and one of its partners had admitted to misconduct in relation to their 2011 compliance reports for a unit of Bank of New York Mellon Corp and its London branch.

* SAINSBURY: Britain’s competition regulator referred Sainsbury’s 7.3 billion-pound ($9.60 billion) takeover of Asda to an in-depth review on Wednesday because their stores overlapped in hundreds of local areas.

* KINGFISHER: Kingfisher, one of Europe’s biggest home improvement retailers, reported a 15 percent fall in half-year profits after a poor performance in France, but said it was on track to grow its gross margin in the full year.

* FUNDING CIRCLE: British peer-to-peer lender Funding Circle IPO-FNIG.L plans to sell up to 71.4 million new shares in its initial public offering for between 420 pence and 530 pence per share.

* JOHN LAING INFRASTRUCTURE FUND: John Laing Infrastructure Fund said on Wednesday its board had agreed the terms of its proposed 1.4 billion pounds ($1.84 billion) takeover by a consortium of funds, with the price set at 142.5 pence per share in cash.

* TESCO: Tesco, Britain’s biggest supermarket group, will go head to head with German rivals Aldi and Lidl on Wednesday by launching its own discount store format.

* GSK: Nestle, Unilever, and Coca-Cola are among bidders for GlaxoSmithKline’s Indian Horlicks nutrition business, expected to fetch more than $4 billion, four people familiar with the matter said.

* GOLD: Gold prices edged up on Wednesday as the dollar weakened despite another round of tit-for-tat tariffs in the Sino-U.S. trade dispute.

* OIL: Oil prices were steady on Wednesday as concerns that producers will not be able to respond to a shortfall in supply once U.S. sanctions on Iran are enacted outweighed a gain in stockpiles in the United States, the world’s biggest oil user.

* The UK blue chip index closed down 0.03 percent on Tuesday as investors took in their stride an escalation in the U.S.-China trade war., and losses among tobacco stocks were balanced by gains in miners and oil companies.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar in Bengaluru)

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