October 23, 2019 / 6:47 AM / 4 months ago

UPDATE 1-UK Stocks-Factors to watch on Oct. 23

(Adds company news items and futures)

Oct 23 (Reuters) - Britain’s FTSE 100 index is seen opening 16 points lower at 7,197 on Wednesday, according to financial bookmakers, with futures down 0.07% ahead of cash market open.

* METRO BANK: Vernon Hill, the founding chairman of struggling British lender Metro Bank has stepped down from his role with immediate effect, handing interim control to board member Michael Snyder.

* HOCHSCHILD MINING: Precious metals miner Hochschild Mining reported a near 9% jump in third-quarter gold production, helped by higher output at its Inmaculada mine in southern Peru, and said its debt has more than halved in the period.

* ANTOFAGASTA: Chilean miner Antofagasta Plc reported a 4.6% rise in quarterly copper output, buoyed by better quality ore from its Centinela mine in northern Chile, but warned that recent unrest in the South American country could hurt production.

* GOLD: Gold prices were steady, as investors awaited more clarity on the Brexit and the U.S.-China trade war, but a rally in the bond markets provided modest support to the bullion.

* OIL: Oil fell after gaining over 1% in the previous session as U.S. industry data showed a bigger-than-expected build in crude stockpiles, but the possibility of deeper output cuts from OPEC and its allies contained the decline.

* The UK blue chip index closed 0.7% higher on Tuesday as uncertainty over whether British lawmakers would support the government’s Brexit deal took its toll on the pound.

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


> Financial Times

> Other business headlines (Reporting by Samantha Machado in Bengaluru; Editing by Arun Koyyur)

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