August 1, 2016 / 6:27 AM / 2 years ago

UPDATE 2-UK Stocks-Factors to watch on Aug 1

(Adds company news items)

Aug 1 (Reuters) - Britain’s FTSE 100 index is seen opening up 0.05 percent, according to financial bookmakers, with futures up about 0.5 percent ahead of the cash market open.

* The UK blue chip index closed 3.37 points higher on Friday at 6724.43, underperforming the broader European market as education publisher Pearson slumped after posting results.

* SABMILLER: Brewer Anheuser-Busch InBev cleared a major hurdle towards its takeover of SABMiller with regulatory approval from China on Friday, leaving the acquisition’s future in the hands of the British company’s board.

* INTERTEK: British testing company Intertek Group ITRK.L said on Monday it was on track to deliver full-year revenue growth at constant currency and that it did not expect Britain’s decision to leave the EU to impact its growth opportunities.

* GLAXOSMITHKLINE: GlaxoSmithKline said on Monday it had teamed up with Alphabet’s life sciences unit to create a new company focused on fighting diseases by targeting electrical signals in the body.

* EQUITIES OUTLOOK: Goldman Sachs has cut its three-month rating on equities to “underweight”, saying its risk appetite indicator has turned neutral, which suggests that markets are more vulnerable to growth and policy disappointments.

* GULF KEYSTONE: Norwegian energy firm DNO ASA, hoping to expand its presence in Iraqi Kurdistan, offered to buy rival Gulf Keystone Petroleum Ltd for $300 million, following the latter’s junk bond deal this month.

* SIERRA RUTILE: Australia’s Iluka Resources has made a 215 million pound ($284 million) all-cash takeover offer for rival mineral sands producer Sierra Rutile, looking to take advantage of a market slump to boost its long-term resources.

* IAG: Qatar Airways lifted its stake in British Airways-owner IAG to 20.01 percent from 15.67 percent, saying it had no plans to increase its shareholding further unless the situation changed materially.

* UK BUSINESS MORALE: British business confidence plunged in the immediate aftermath of the June 23 vote to leave the European Union, regained a little ground later, but was still down sharply compared with last quarter, an industry body said on Monday.

* UK ECONOMY: British businesses expect economic growth to grind almost to a halt over the next three months due to weaker investment and consumer confidence after June’s vote to leave the European Union, the Confederation of British Industry said on Sunday.

* EU RULES: Britain’s financial watchdog published on Friday a consultation paper on implementing a reform of European Union securities markets, signalling to banks that last month’s vote by Britons to leave the EU must not derail preparations for the new rules.

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


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit * For Top News : (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair)

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