February 11, 2014 / 7:00 AM / in 4 years

UK Stocks-Factors to watch on Feb 11

LONDON, Feb 11 (Reuters) - Britain’s FTSE 100 index is seen opening up 23-24 points, or as much as 0.4 percent higher on Tuesday, according to financial bookmakers.

* The UK blue chip index closed up 19.87 points, or 0.3 percent, at 6,591.55 points on Monday, rising for a fourth straight session.

* The first testimony to Congress by Janet Yellen, the new chair of the U.S. Federal Reserve, will dominate the market’s attention on Tuesday, with investors likely to want to know how committed she is to winding down the Fed’s monetary stimulus.

While she is not expected to signal any deviation from the “tapering” of equity-friendly asset purchases, she may indicate that the Fed’s forward guidance of low rates needs tweaking, given that the unemployment rate is near the central bank’s target well before the Fed is inclined to raise rates again.

* British retail sales rebounded last month after a weak December to record their strongest annual growth since April 2011, helped in part by a recovery in the country’s property market, a monthly industry survey showed.


BARCLAYS reports full-year results

BABCOCK INTERNATIONAL issues a trading update


> Financial Times

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