October 28, 2016 / 6:27 AM / in 2 years

UPDATE 2-UK Stocks-Factors to watch on Oct 28

(Updates futures, company news items)

Oct 28 (Reuters) - Britain’s FTSE 100 index is seen opening 11 to 13 points lower, or down as much as 0.2 percent on Friday, according to financial bookmakers, with futures down 0.21 percent ahead of the cash market open.

* The UK blue chip index was up 0.4 percent at 6,986.57 at close on Thursday, buoyed by well-received results from Barclays, though mid-cap stocks fell as earnings updates led to double-digit slides for AMEC Foster Wheeler and Berendsen.

* IAG: British Airways-owner IAG cut its 2016 forecast for profit growth to about 7 percent from the low double-digit percentage growth it guided in July, after it was hit by the fall in the value of the pound and weaker trading after the Brexit vote.

* RBS: Royal Bank of Scotland swung to a third-quarter loss on Friday, hit by costs related to past misconduct and restructuring that cast fresh doubts on when the government might begin to recoup more of its 2008 emergency investment.

* ANGLO AMERICAN: Miner Anglo American has pleaded guilty in an Australian court to charges relating to the death of a worker who was sent to a poisonous site at an Australian coal mine.

Separately, Anglo American said on Thursday that it would make a fresh round of 140 job cuts in its Chilean copper operations, as weak copper prices continue to drag on the industry.

* NATIONAL GRID: Hermes Investment Management has joined a consortium bidding to buy a controlling stake in the gas distribution division of National Grid, Sky News reported.

* BARCLAYS: Barclays said on Thursday a report that it was trying to cap a penalty to settle a U.S investigation into its sale of mortgage securities at $2 billion was based on ill-informed speculation.

* ASTRAZENECA: AstraZeneca’s high hopes for cancer immunotherapy were dented on Thursday as the recruitment of new patients with head and neck cancer into two clinical studies was put on hold, following instances of bleeding.

* TATA STEEL: Tata Steel Ltd’s plans for its European steel business are unchanged and the debt-laden firm is still seeking a partner for a joint venture to run the assets, according to a source present at a closed-door analyst briefing on Thursday.

* PREMIER FOODS: Activist hedge fund Oasis Management Co Ltd has raised its stake in Britain’s Premier Foods Plc to 5.18 percent, a regulatory filing on Thursday showed.

* UK CONSUMER CONFIDENCE: British consumers turned less optimistic this month as sterling’s slump began to eat into their disposable income, according to two surveys on Friday which will raise concerns about the strength of future spending growth.

* OIL: Oil prices were steady on Friday, but on track for a weekly loss of more than 2 percent on uncertainty over whether the OPEC would be able to coordinate a production cut big enough to curb a global glut that has dogged markets for two years.

* METALS: London copper prices dipped on Friday following overnight gains, while Shanghai futures were firmer amid expectations that physical demand in China would pick up.

* 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 topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below