July 8, 2016 / 6:42 AM / 2 years ago

UPDATE 1-UK Stocks-Factors to watch on July 8

(Adds futures, company news item on IG)

July 8 (Reuters) - Britain’s FTSE 100 index is seen opening down 15 to 23 points, or 0.4 percent, on Friday, according to financial bookmakers, with futures down 0.32 percent ahead of the cash market open

* The UK blue chip index closed up 1.1 percent on Thursday after closing more than 1 percent lower in the previous session, as Associated British Foods recording its biggest one-day gain in 16 years after its brighter outlook on earnings. Gains by crude oil helped energy stocks.

* IG GROUP: IG Group Holdings Plc, a British online trading company, said it had appointed Paul Mainwaring as chief financial officer designate, adding that Mainwaring would take on the full role of finance head after a regulatory nod.

* LSE: London Stock Exchange Group said on Thursday that U.S. and Russian authorities had approved its $27 billion merger with Deutsche Boerse , giving it the first set of regulatory clearances needed to create a European exchange giant.

* BRITISH LAND: Property company British Land said it had exchanged contracts to sell a Debenhams store located in London’s West End shopping district to a private investor, a sign that deals were still being struck in a sector gripped with concerns around the impact of Brexit.

* UK PROPERTY FUNDS: Four fund managers cut the value of their UK property funds and a fifth extended a 24-hour trading suspension on Thursday, as the industry seeks to stem a tide of redemption requests since Britain’s vote to leave the European Union.

* CHINA INTEREST RATE: An interest rate cut cannot be ruled out if China’s second-quarter economic data misses expectations, researchers from a government-affiliated institute wrote in an official newspaper on Friday.

* OIL: Oil prices rebounded on Friday, bouncing off two-month lows hit in the previous session when prices fell 5 percent on news that the U.S. weekly crude draw missed some forecasts.

* GOLD: Gold edged down on Friday as investors turned cautious ahead of U.S. jobs data later in the day, but the precious metal remained on course for a sixth consecutive weekly gain.

* COPPER: London copper futures ticked higher on Friday as upbeat U.S. economic data boosted expectations ahead of a crucial jobs report, but the industrial metal is still heading for its biggest weekly loss in two months amid high stockpiles.

* U.S JOB GROWTH: U.S. job growth likely rebounded in June as striking Verizon employees returned to work and wages probably rose steadily, more evidence the economy has regained speed after a first-quarter lull.

* JOHN LEWIS: The depreciation of sterling versus the U.S. dollar in the wake of Britain’s vote to leave the European Union could potentially become a major issue for John Lewis, the country’s largest department store group said late on Thursday.

* BREXIT: U.S. President Barack Obama said he was confident that Britain and the European Union would be able to agree an orderly transition to a new relationship after last month’s Brexit vote.

* BREXIT: Britain said it would start preliminary talks with India on Friday about an eventual bilateral trade deal after last month’s referendum vote to leave the European Union, which has forced London to rethink its trade ties with the rest of the world.

* BREXIT: UK-based financial lobby TheCityUK held its first Brexit task force meeting on Thursday and said it wants to send a clear message from industry to policymakers “to achieve an outcome which is in the best interests of the UK to safeguard its economic prosperity”.

* BREXIT: Five U.S. investment banks promised British finance minister George Osborne on Thursday that they would try to help London keep its top spot as a financial centre, but gave no commitment on jobs following Britain’s vote to leave the European Union.

* BREXIT: Finance minister George Osborne met senior Chinese officials in London on Thursday to discuss trade following Britain’s vote to leave the European Union, agreeing to work to foster stronger ties between the two countries, a source close to Osborne said.

* BREXIT: British employers are hiring immigration lawyers to advise staff from EU countries, and some are urging those eligible to apply for UK residency, in the face of uncertainty over their future once Britain leaves the bloc.

* NHS: Japan’s Eisai said on Friday it would consider all options, including possible legal action, to fight delays in Britain’s healthcare system that prevent patients from accessing one of its drugs to treat a rare form of cancer.

* UK CONSUMER CONFIDENCE: British consumer confidence fell at the fastest pace in 22 years after last month’s decision by voters to leave the European Union, according to a survey by market research company GfK cited by the Daily Telegraph newspaper.

* UK REAL ESTATE: Commercial real estate has hit the headlines this week, a victim of the recent Brexit vote which has left over $20 billion trapped in funds that not long ago promised investors a slice of London’s red-hot property market.


> Financial Times

> Other business headlines (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

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