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UPDATE 1-UK Stocks-Factors to watch on Jan. 15
January 15, 2014 / 7:42 AM / 4 years ago

UPDATE 1-UK Stocks-Factors to watch on Jan. 15

LONDON, Jan 15 (Reuters) - Britain’s FTSE 100 index is seen opening higher on Wednesday, with futures up 0.3 percent by 0736 GMT before the cash market open.

* Brightening the mood, the World Bank raised its forecast for growth for the first time in three years, signalling the world economy is finally pulling out of a long and sluggish recovery that followed the global financial crisis.

* The UK blue chip index closed up 9.71 points, or 0.1 percent, at 6,766.86 points on Tuesday, reversing earlier losses to steady near two-month highs, after forecast-beating U.S. December retail sales offset some of the concern triggered by last week’s disappointing U.S. jobs report.

* The following companies will trade without the attraction of their latest dividend on Wednesday, knocking 3.39 points off the FTSE 100: Ashtead, Imperial Tobacco and Next.

* BURBERRY : The luxury brand posted a 14 percent rise in underlying retail revenue in the Christmas quarter, though it cautioned that at current levels, exchange rates will be a significant headwind in the balance of its second half.

* TULLOW OIL : The oil explorer said it had made two new oil discoveries in Kenya, boosting discovered resources there to 600 million barrels, and it was working with government to start developing the finds within three years.

* STANDARD CHARTERED : Shares in the Asia-focused bank were boosted on Tuesday by talk of possible bid interest from Australia & New Zealand Banking Group, according to the Daily Express market report.

* TAYLOR WIMPEY : The housebuilder said it expects its full-year operating margins to hit the upper end of its expectations, helped by government schemes that have stoked demand for its homes.

* BHP BILLITON : Pan Pacific Copper, Japan’s biggest smelter, said on Wednesday it would not sign an annual contract for copper processing fees with BHP Billiton for 2014, after failing to strike an agreement on terms.

Separately, the miner appointed Tony Cudmore as President of Corporate Affairs.

* AVIVA : The insurance group has toughened oversight of trading activities at its fund management arm after discovering breaches of dealing policy between 2006 and 2012, according to a company filing.


> Financial Times

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