August 24, 2016 / 5:36 AM / 2 years ago

UK Stocks-Factors to watch on Aug. 24

Aug 24 (Reuters) - Britain's FTSE 100 index is seen opening 18-20
points lower on Wednesday, or 0.3 percent lower, according to financial
    * The UK blue chip index closed up 0.6 percent at 6,868.51 points on
Tuesday, helped by a rise in housebuilders after strong results from Persimmon
 suggested that the sector was coping with the uncertainty from Britain's
vote to leave the European Union. 
    * SABMILLER: Aberdeen Asset Management said on Tuesday it was
pleased a court had ruled SABMiller shareholders can be treated as two
separate groups when they vote on a takeover by Anheuser Busch InBev,
and still plans to reject the deal. 
    * LLOYD'S OF LONDON:  American International Group Inc is in early
talks to sell Lloyd's of London Ltd's insurance operations to Canada
Pension Fund (CPPIB), the Wall Street Journal reported on Tuesday. 
    * GLENCORE: Glencore Plc has agreed to sell a 30 percent stake and
all of the gold from its Ernest Henry copper mine in Australia to Evolution
Mining for A$880 million ($670 million), advancing the Swiss giant's
effort to pay down debt. 
    * CAIRN ENERGY: ConocoPhillips' plan to sell its stake in an oil
find off Senegal to Woodside Petroleum hit a speed-bump on Tuesday as a junior
partner attempted to buy time to pre-empt the deal at the same time it announced
an increase in the size of the field. The SNE joint venture's operator and 40
percent stakeholder, Britain's Cairn Energy PLC, has said the field
could start producing by 2020. 
    * UK BONDS: The Bank of England paid a high price to buy government bonds
from investors on Tuesday, the latest sign that its plan to soften the Brexit
hit to Britain's economy faces more of a challenge than initially thought.
    * UK BANKS: British banks could lose a good number of European and domestic
corporate customers in the aftermath of Britain's vote to leave the European
Union in June, according to a private study released on Tuesday. 
    * OIL: Oil prices fell early on Wednesday as an unexpected build in U.S.
crude stocks weighed on markets, along with concerns that Chinese crude demand
could falter as Beijing clamps down on alleged tax evasion in the oil industry.
    * METALS: London copper hovered near its lowest in six weeks on Wednesday,
with a stronger dollar hitting base metals and pushing zinc and tin away from
their highest levels in more than a year. 
    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

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    > Financial Times                      
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 (Reporting by Pranav Kiran in Bengaluru; Editing by Sunil Nair)
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