October 29, 2019 / 7:51 AM / 7 months ago

UPDATE 1-UK Stocks-Factors to watch on Oct. 29

(Adds futures, news items)

Oct 29 (Reuters) - Britain’s FTSE 100 index is seen opening lower on Tuesday, with futures down 0.2% to 7301, ahead of the cash market open.

* BP: BP’s third-quarter profit dropped sharply, but still beat expectations, hurt by weaker oil prices, lower production and one-off charges linked to large divestments.

* HUNTING: British oilfield services firm Hunting Plc warned its annual core profit would be at the lower end of market expectations as it grapples with a slowdown in the U.S. onshore drilling market.

* PLUS500: Online trading platform Plus500 Ltd reported a jump in third-quarter revenue, as more customers signed up to trade in a volatile period for financial markets driven by the U.S.-China trade spat and Brexit.

* HOUSE PRICES: Growth in British house prices, which has slowed almost to a halt ahead of Brexit, picked up a bit of speed in October after touching an eight-month low in September, according to a survey from mortgage lender Nationwide.

* AFRICAN EXPORT-IMPORT BANK: The African Export-Import Bank has postponed a planned initial public offering on the London Stock Exchange, citing unfavourable market conditions for its decision.

* BHP: Unionized workers at BHP’s Escondida copper mine, the world’s largest, said late on Monday they would walk off the job for part of the work day on Tuesday in a show of solidarity with protests in Chile.

* JUST EAT: The takeover battle for British food delivery ordering service Just Eat heated up on Monday as a key shareholder accused German peer Delivery Hero of undermining one of the two rival offers.

* BP: BP Plc is still looking to close its deal with Bunge Ltd to merge sugar and ethanol assets in Brazil in 2019, so the companies can go on to plan their operations together for the new cane season that starts in early 2020.

* GOLD: Gold prices were little changed, hovering around the key $1,490 an ounce level as progress in China-U.S. trade talks sent equities soaring, while anticipation ahead of major central bank meetings in the week provided some support.

* OIL: Oil prices slipped as investors awaited U.S. crude inventory data for a pointer on oil demand trends, while concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing.

* The blue chip index closed 0.1% higher, recovering from early losses on Monday despite a rebound in sterling, boosted by gains in leading drug stocks and as prospects for a U.S.-China trade agreement powered miners and industrials.

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


> Financial Times

> Other business headlines (Reporting by Pushkala Aripaka and Shanima A in Bengaluru; Editing by Arun Koyyur)

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