August 9, 2016 / 6:36 AM / 2 years ago

UPDATE 2-UK Stocks-Factors to watch on Aug. 9

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Aug 9 (Reuters) - Britain’s FTSE 100 index is seen opening up 9 to 11 points higher on Tuesday, or up as much as 0.16 percent, according to financial spreadbetters, with futures marginally up ahead of the cash market open.

* The UK blue chip index closed 15.6 points higher on Monday at 6809.13 points to touch its highest level in more than 13 months on the back of gains in mining stocks and Barclays, which was boosted by an upgrade.

* STANDARD LIFE: British insurer and asset manager Standard Life on Tuesday posted a forecast-beating 7 percent rise in first-half assets under administration, boosted by market gains following Britain’s vote to leave the European Union.

* LEGAL & GENERAL: Insurer Legal & General posted an above-forecast 10 percent rise in first-half operating profit to 822 million pounds ($1.07 billion) on Tuesday, boosted by strong growth in its retirement business.

* ASTRAZENECA: AstraZeneca’s cancer drug pipeline suffered a setback on Tuesday when the experimental drug selumetinib failed to meet its goal in a late-stage trial for lung cancer.

* SAVILLS: Estate agent Savills said profits at its British commercial property business fell 54 percent in the first half of the year, hit by a referendum on EU membership, and that the vote and upcoming U.S. presidential election had hit sentiment.

* WORLDPAY: British payments processor Worldpay Group Plc’s first-half underlying earnings beat analyst estimates, driven by strong growth across all its businesses and tightened costs at its UK unit.

* SIG: Building materials supplier SIG Plc said the uncertainty resulting from Britain’s vote to leave the European Union made its outlook more difficult to assess, and added construction activity in the U.K. had slowed before and after the vote.

* SMITHS GROUP: British engineering conglomerate Smiths Group Plc said it expected its full-year revenue and profit to be more than market expectations, helped by better sales at its Smiths Detection unit and a weaker sterling.

* OLD MUTUAL: Old Mutual, which has announced an overhaul of its businesses, said it would sell its Italian wealth arm to Cinven owned ERGO Italia for 278 million euros ($307 million) in cash.

* WM MORRISON/OCADO: British supermarket WM Morrison said on Tuesday it had agreed new terms with its online partner Ocado which will see it extend home delivery across the country using its own stores to pick products. Ocado Group said it expects the deal to add to earnings.

* BP: British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2-$3 billion, people familiar with the matter told Reuters.

* SIG: Building materials supplier SIG Plc said the uncertainty resulting from Britain’s vote to leave the European Union made its outlook more difficult to assess, and added construction activity in the U.K. had slowed before and after the vote

* MONETARY POLICY: Bank of England policymaker Ian McCafferty said more quantitative easing was likely to be required if the U.K.’s economic decline worsens, the Times reported on Tuesday.

* BARCLAYS: Barclays has reached a $100 million multi-state settlement over charges that it manipulated the Libor and Euribor interest rate benchmarks, New York Attorney General Eric Schneiderman said on Monday.

* HSBC: HSBC Holdings Plc has settled a U.S. probe accusing the British bank of illegally repossessing cars owned by members of the U.S. military while they were serving their country, the Department of Justice said on Monday.

* UK BANKS: Britain’s competition watchdog has published its final recommendations for boosting competition in high street banking, its measures not differing significantly from options it published in May to widespread dismay among consumer groups.

* BRITISH SPENDING: British retail spending bounced back in July as sales promotions and good weather outweighed any immediate concern about the consequences of Britain’s decision to leave the European Union, a survey showed on Tuesday.

* 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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