October 2, 2019 / 6:55 AM / 5 months ago

UPDATE 1-UK Stocks-Factors to watch on Oct 2

(Adds company news items, items)

Oct 2 (Reuters) - Britain’s FTSE 100 index is seen opening down 35 points to 7,325 on Wednesday, according to financial bookmakers with futures down 0.55% ahead of the cash market open.

* TOPPS TILES: Britain’s biggest tile retailer Topps Tiles on Wednesday reported lower like-for-like sales for its final quarter, hit by tougher economic conditions that has dampened consumer confidence.

* TESCO: Britain’s biggest retailer said on Wednesday its chief executive Dave Lewis will step down next summer and be succeeded by Ken Murphy, an executive at Walgreens Boots Alliance.

* STANDARD LIFE ABERDEEN: Veteran investor Martin Gilbert is stepping down from the 500 billion pounds ($613.05 billion) fund firm from September 2020, the company said on Wednesday, ending a career spanning more than three decades in charge of one of Britain’s most successful asset managers.

* GOLD: Gold prices inched up on Wednesday, after rising as much as 1% in the previous session, as dismal U.S. manufacturing data fanned fears of a sharp global economic slowdown and stoked bets of further interest rate cuts.

* OIL: Oil rebounded from several days of declining values after industry data showed a surprise drop in U.S. crude inventories, offsetting weak economic readings in the United States that have depressed global stock markets.

* The UK blue chip index closed down 0.7% lower on Tuesday, reversing gains from earlier in the day, coming under pressure following disappointing manufacturing data from the United States that added to concerns about the health of the global economy.

* For more on the factors affecting European stocks, please click on:


> Financial Times

> Other business headlines (Reporting by Aniruddha Ghosh in Bengaluru)

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