January 29, 2014 / 7:05 AM / 4 years ago

UK Stocks-Factors to watch on Jan. 29

LONDON, Jan 29 (Reuters) - Britain’s FTSE 100 index is seen opening 43 to 48 points higher, or as much as 0.7 percent, on Wednesday, according to financial bookmakers.

* Futures for the FTSE 100 index were up 0.7 percent at 0730 GMT.

* The UK blue chip index closed up 21.67 points, or 0.3 percent, at 6,572.33 points in the previous session, rebounding from technical support at the 200-day moving average around 6,556.64 points.

* ROYAL DUTCH SHELL : The British oil firm said on Wednesday it had agreed to sell a 23 percent stake in a Brazilian oil project to Qatar Petroleum International for $1 billion.

* The U.S. Federal Reserve is likely to trim its bond-buying stimulus further on Wednesday despite turmoil in emerging markets and a month of disappointing job growth at home.

* Britain’s house price surge slowed in January after the biggest monthly jump in more than four years in December, mortgage lender Nationwide said, although on an annual basis prices continue to rocket higher.

* ANGLO AMERICAN - The miner’s iron ore production rose more than expected in the fourth quarter, recovering from trouble at the division’s largest mine and copper output also rose to a quarterly record.

* CARPHONE WAREHOUSE - Europe’s largest independent mobile phone retailer has signed a “preferred partner” agreement with Samsung Electronics that will see it operate over 60 Samsung stand-alone stores across Europe.

* ANTOFAGASTA - Chilean miner Antofagasta said its cash costs for this year would be in line with 2013, as it posted record full year copper production.

* Asian markets rallied after Turkey stunned investors with a huge hike in interest rates, stirring hopes drastic action would short-circuit a vicious cycle of selling in emerging markets and revive risk appetite.

* British online appliances retailer AO.com is looking at valuing its initial public offering at 1 billion pounds ($1.66 billion) to 1.2 billion pounds in late 2014, the Financial Times reported.

* London copper edged up on Wednesday, moving away from a seven-week low hit in the previous session after a surprise rate hike by Turkey soothed jitters over emerging market growth.

* MULBERRY - British luxury fashion group Mulberry warned its annual profit would be substantially below market forecasts after heavy discounting over Christmas hurt its UK sales and its wholesale business was hit by order cancellations.


> Financial Times

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