November 29, 2016 / 6:42 AM / 2 years ago

UK Stocks-Factors to watch on Nov. 29

Nov 29 (Reuters) - Britain's FTSE 100 index is seen opening almost
flat on Tuesday, according to financial bookmakers.
    * The UK blue chip index closed down 0.6 percent on Monday at 6,799.47, as a
rally sparked by Donald Trump's election as U.S. president appeared to falter
with financial and energy shares showing the biggest declines, though gold
miners and utilities rose. 
    * TESCO: Philip Clarke, the former chief executive of Tesco, will
not face charges from the Serious Fraud Office (SFO) over the accounting scandal
that rocked Britain's biggest retailer in 2014, his lawyer said on Monday.
    * GLENCORE: Commodities trader Glencore Plc presented the highest
bid in an auction for the sale of a distressed Brazilian sugar mill and is well
positioned to take control of the plant, a source with direct knowledge of the
process said on Monday. 
    * ROYAL DUTCH SHELL: Royal Dutch Shell is considering selling out
of its oil fields in Iraq as part of its global $30 billion asset disposal
programme, industry sources said on Monday. 
    * LONDON STOCK EXCHANGE: CME Group Inc has submitted a bid to buy
the London Stock Exchange's French clearing business for more than $340
mln pounds (400 million euros), the Sunday Times reported, setting the stage for
a potential battle over the division. 
    * BT GROUP: BT Group Plc said Mike McTighe, former board member of
Ofcom, has been appointed the first chairman of Openreach, BT's fixed network
    * BP: Mexico's oil regulator announced on Monday a final list of 17 oil
companies representing a dozen countries that have pre-qualified to bid on the
country's first-ever deep water oil auctions, set for Dec. 5. The pre-qualified
individual bidders include BP. 
    * BP: Italian oil and gas company Eni is in talks with various
parties to cut its stake in the giant Zohr gas field offshore Egypt to 50
percent, Chief Executive Claudio Descalzi said on Monday. BP has an
option to buy 5 percent stake in the field. 
    * SIERRA RUTILE: Iluka Resources Ltd said on Tuesday it was
delaying a planned 215 million-pound ($267 million) takeover of Sierra Rutile
Ltd and could possibly call the deal off after raising concerns about
mine tailings dams. 
    * UK STEEL: Tata Steel and Thyssenkrupp are looking at
reducing the size of Britain's largest steel plant in Port Talbot, Wales,
industry sources said, as the two firms press ahead with plans to merge their
European steel operations and deal with the overcapacity afflicting the
    * UK ENERGY: Britain's biggest energy suppliers have submitted bids to take
over 160,000 customers left behind by bankrupt energy provider GB Energy, which
collapsed on Saturday after being caught out by rising market prices.
    * BANK OF ENGLAND: The highly uncertain outlook for Britain's economy as the
country prepares to leave the European Union means the Bank of England should
keep interest rates on hold, one of the bank's top policymakers said on Monday.
    * OIL: Oil prices dipped on Tuesday on doubts that producer cartel OPEC will
be able to hammer out a meaningful output cut during a meeting on Wednesday
aimed at reining in a global supply overhang and propping up prices.
    * UK CONSUMER CONFIDENCE: British consumer morale edged up this month,
bolstered by a strong labour market, despite rising concern about household
finances, a survey showed on Tuesday. 
    * 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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