October 28, 2019 / 7:50 AM / 10 months ago

UPDATE 1-UK Stocks-Factors to watch on Oct. 28

(Adds company news items and futures)

Oct 28 (Reuters) - Britain’s FTSE 100 index is seen opening one point higher at 7,325 on Monday, according to financial bookmakers, with futures down 0.01% ahead of cash market open.

* FERREXPO: Iron ore pellets producer Ferrexpo said that Chief Executive Officer Kostyantin Zhevago, a Ukrainian mogul, would “temporarily” step aside to resolve matters relating to one of his former businesses in Ukraine.

* HSBC: HSBC Holdings Plc dropped its 2020 profit target, reported a sharp fall in earnings and warned of a costly restructuring, as interim Chief Executive Noel Quinn seeks to tackle its problems head-on in his bid for the full-time role.

* JUST EAT: Investor Cat Rock Capital accused internet conglomerate Prosus of undermining the sale process of British food delivery business Just Eat, which is the focus of a bidding war in the fast-growing sector.

* TELCOS: British Prime Minister Boris Johnson is preparing to grant China’s Huawei Technologies Co Ltd access to the UK’s future 5G telecoms network, the Sunday Times reported.

* BHP: Samarco, a joint venture between BHP Group and Vale SA, on Friday won permission to resume operations at their Germano iron ore mine, the environmental regulator of the Brazilian state of Minas Gerais said, roughly four years after a fatal dam collapse there.

* GOLD: Gold was little changed on Monday, after a near 1% jump in the previous session, as investors awaited a U.S. Federal Reserve rate decision later in the week, while progress in U.S.-China trade talks limited upside.

* OIL: After strong gains last week, oil prices were slightly lower on Monday as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices.

* UK stocks ended Friday on a sour note as Brexit jitters weighed on sentiment, although the exporter-heavy FTSE 100 marked its strongest weekly performance in nine months as the continuing political divide hurt sterling.

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


> Financial Times

> Other business headlines (Reporting by Pushkala Aripaka and Tanishaa Nadkar in Bengaluru)

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