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(AFX UK Focus)
2008-11-06 06:30
UK Stocks -- Factors to watch on Nov 6 |
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LONDON, Nov 6 (Reuters) - Britain's FTSE 100 index is seen opening as much as 2.7 percent lower on Thursday ahead of the Bank of England's interest rate decision, according to financial bookmakers, tracking weakness in the U.S. and Asian markets on worry of a deep recession. U.S. stocks plummeted on Wednesday, a day after Barack Obama's historic victory in the U.S. presidential election, as a fresh batch of dismal economic data underscored the massive challenges awaiting his administration. In Asia, Japan's Nikkei average lost 7.4 percent. Cisco Systems, a technology bellwether, said after the close of regular trading that fallout from the United States' economic problems had now spread to key markets abroad and its revenue could fall as much as 10 percent in the current quarter. Financial bookmakers expected the UK benchmark to open down 115 to 124 points after closing 2.3 percent on Wednesday to snap a six-session winning streak. The Bank of England is widely expected to cut interest rates from its current 4.5 percent when it announces its decision at 1200 GMT. The European Central Bank will come out with its rate verdict at 1245 GMT. UK stocks to watch on Thursday are:
HBOS The mortgage lender accused a Scottish lawmaker of treating the bank as a "potential plaything" on Wednesday after he said a rival bid to its planned takeover by Lloyds TSB could emerge within a week.
XSTRATA Xstrata and the union representing workers at the Kidd metallurgical operations in Canada have reached a tentative deal to end a strike that began over a month ago, a union official said on Wednesday.
ASTRAZENECA AstraZeneca's powerful cholesterol fighter Crestor will take centre stage at the American Heart Association scientific meeting in New Orleans next week as doctors and investors await details of a study that was halted early because the drug had cut death rates. CENTRICA, BRITISH ENERGY British Gas-owner Centrica is in talks with its banks over a new syndicated loan to part-finance its potential acquisition of a 25 percent stake in British Energy, banking sources said on Wednesday.
HOME RETAIL Home Retail said Meristem Holdings, a major supplier fo "flat-pack" furniture products to the group, had been placed in administration and that the financial impact on the group would clearly be dependent on the outcome of Meristem's administration as well as the group's review of alternative sources of supply.
ROYAL DUTCH SHELL Shell Oil said on Wednesday that its operated production in the Gulf of Mexico was not about 375,000 barrels of oil equivalent per day following Hurricane Ike.
SHIRE Shire said it had settled former TKT shareholder appraisal rights litigation.
BP BP Alternative Energy, a unit of oil group BP, has pulled out of a partnership in a wind farm project with a subsidiary of Goldwind Science & Technology, Goldwind said on Thursday. SMITH & NEPHEW The medical device maker is due to announce its third-quarter results.
VEDANTA RESOURCES The miner is due to announce its first-half results.
OLD MUTUAL The insurer is due to issue its trading update.
INVENSYS The company is due to announce its first-half results.
MAN GROUP The hedge fund is due to announce its first-half results.
3I The private equity group is due to announce its first-half results.
RSA INSURANCE The insurer is due to issue its trading update. TATE & LYLE The company is due to announce its first-half results.
TOMKINS The company is due to issue its trading update.
MAPELEY The company is due to issue its trading update. MILLENNIUM & COPTHORNE HOTELS The hotelier is due to announce its third-quarter results.
RANDGOLD RESOURCES The company is due to announce its third-quarter results.
TODAY'S UK PAPERS > Financial Times
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(Reporting by Dominic Lau; Editing by Greg Mahlich)
(dominic.lau@reuters.com; +44 20 7542 5440; Reuters Messaging: dominic.lau.reuters.com@reuters.net)
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