UK Stocks-Factors to watch on July 11

lunes 11 de julio de 2016 01:10 GYT
 

July 11 (Reuters) - Britain's FTSE 100 index is seen opening up
30-34 points, or 0.5 percent, on Monday, according to financial bookmakers.
 
    
    * The UK bluechip index closed up 0.9 percent on Friday at 6,550.30,
recovering from both the referendum selloff as well as last summer's swoon
across global markets. The index rose to its highest level in nearly a year on
Friday and posted its third straight weekly gain as investors continue to pile
into shares of large dividend-paying UK bluechip exporters. 
    * LSE: Deutsche Boerse AG is considering lowering the approval
threshold for its proposed merger with London Stock Exchange Group Plc 
from shareholders representing 75 percent of its shares, the German exchange
said on Sunday. 
    * DIAGEO: Indian spirits maker United Spirits Ltd (USL), a unit of
Diageo, said an additional inquiry into its past financial statements
has uncovered actual and potential fund diversions linked to its former chairman
Vijay Mallya. 
    * SABMILLER: South Africa's Treasury said on Friday it was proposing a 20
percent tax on sugary drinks, under a plan that has delighted health campaigners
but dismayed the beverage industry. The Beverage Association of South Africa
(BevSA), whose members include Coca Cola Co, Pepsi Inc and
SABMiller PLC, met Treasury officials about the tax in April.
 
    * SHELL: Royal Dutch Shell has changed its redundancy terms so it
can claim tax refunds that some UK workers would otherwise have been able to
claim on redundancy payments, internal documents seen by Reuters show.
   
    * UK STEEL: Tata Steel has put the process of selling its major
British assets on hold because of the uncertainty caused by the Brexit vote and
surrounding pension liabilities and will now also look at forming a joint
venture, the company said. 
    * UK PROPERTY FUNDS: The Bank of England is considering curbs on withdrawals
from property investment funds after Britain's vote to leave the European Union
roiled the sector, the Sunday Telegraph newspaper said late on Saturday.
 
    * BREXIT: British finance minister George Osborne will meet some of Wall
Street's biggest investors in New York on Monday to urge them to stick with
Britain despite last month's vote to leave the European Union, his office said.
 
    * BREXIT: Germany expects Britain to trigger article 50 of the European
Union's Lisbon treaty to begin the formal process of leaving the bloc once it
has picked a new prime minister, Chancellor Angela Merkel said on Sunday.
 
    * BREXIT: Technology investors seeking refuge after Brexit are picking
companies delivering instant access to services for Web and mobile customers or
firms mainly doing business globally which can benefit from the pound's fall.
   
    * BREXIT: London's main financial lobby group urged the government on Friday
to retain access to the EU's single market as it seeks to contain the fallout
from Britain's surprise vote to leave the trading bloc. 
    * UK GOVERNMENT: Theresa May, the favourite to succeed David Cameron as
British prime minister, will pledge on Monday to overhaul corporate governance
rules if elected, including putting workers on company boards and making
shareholder votes on pay binding. 
    * UK GOVERNMENT: Britain's opposition Labour Party is set for a bitter
battle over its future after leader Jeremy Corbyn said he expected to be on the
ballot automatically for a leadership contest and would fight any attempt to
prevent him entering the race.     
    * UK CONSUMER SPENDING: British consumer spending fell last month, the
business outlook darkened by the most in four years and economic activity in
London slowed sharply, according to three reports which showed the vote to leave
the European Union starting to take a toll. 
    * UK MOTOR INSURERS: The cost of British car insurance rose 6.5 percent in
the second quarter compared with the previous three months, website Confused.com
said, with the increase blamed on higher prices for repairing more complex
vehicles.  
    * OIL: Oil fell on Monday over signs that U.S. shale drillers have adapted
to lower prices and on renewed indications of economic weakness in Asia.
 
    * COPPER: London nickel took another shot at the $10,000 mark on Monday as
prices gained steam on supply concerns after the Philippines toughened its
stance on mining, threatening supply to China. 
    * GOLD: Gold prices held steady in early Asian trade on Monday, underpinned
by uncertainty following Britain's Brexit vote even as equity markets rallied on
the back of upbeat U.S. jobs data. 

    * UK CORPORATE DIARY:
 SThree PLC                        Half Year
 Pinewood Group PLC                Full Year
 RPC Group PLC                     Q1 
 Big Yellow Group Plc              Half Year
 
    TODAY'S UK PAPERS
    > Financial Times                      
    > Other business headlines             

 (Reporting by Noor Zainab Hussain in Bengaluru)