WebSify
Follow us on
Mail
Print

UPDATE 1-UK Stocks-Factors to watch on Nov. 20

Source : REUTERS
Last Updated: Tue, Nov 20, 2012 07:40 hrs

LONDON Nov 20 (Reuters) - * Britain's FTSE 100 index is expected to open flat to 3 points lower, or down as much as 0.1 percent on Tuesday, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* The FTSE 100 index closed up 132.07 points, or 2.4 percent, at 5,767.66 on Monday, matching their biggest one day rise of the year and recovering some of last week's steep falls, as optimism that U.S. lawmakers will forge a fiscal compromise encouraged traders to buy at the lower prices.

* France suffered the second downgrade of its sovereign debt rating this year when Moody's, the U.S. rating agency, removed its triple A ranking on Monday night.

* Debt-laden Portugal has passed the sixth quarterly review of its performance under an EU/IMF bailout, opening the way for payment of the next 2.5 billion euro tranche of the loan despite growing economic risks, the lenders said on Monday.

* There is no important economic data out of the UK on Tuesday and it is a quiet day in the U.S. too housing figures due out at 1330 GMT the only real data of note.

* London copper edged back on Tuesday from two-week highs hit the previous session when the U.S. housing market showed unexpected vitality, while Greece was set to receive another round of aid, boosting risk appetite and soothing worries over metals demand.

* GLENCORE : Shareholders in miner Xstrata are expected to give the green light on Tuesday to a long-awaited $31-billion takeover by commodities giant Glencore, paving the way for one of the largest tie-ups in the sector to date.

* BRITISH LAND : The UK-listed real estate investment trust reported a 3.8 percent rise in first-half pretax profit to 137 million pounds with net rental income 1.1 percent ahead, while UK like for like growth was up 1.2 percent.

* BSKYB : The pay-TV broadcaster plans to around $797 million in a placing with institutional investors.

* EASYJET : The British low-cost airline posted a 28 percent rise in full-year profit, helped by a surge in late summer demand and bucking tough conditions elsewhere in the airline sector.

* HOMESERVE said first-half revenue was up 8 percent to 229.6 million pounds on international, while UK customer number fell down to 2.5 million, but it expects results for the full year to be in line with its expectations.

* ENTERPRISE INNS : The British pub group announces a drop in full-year underlying profit to 137 million pounds from 157 million pounds a year ago.

* MORGAN SINDALL : British construction group wins new infrastructure projects totaling 42 million pounds.

* HORNBY : The toy maker announced its current Finance director, Andrew Morris, intends to leave the group in the summer of 2013.

* PREMIER FOODS : The food producer announces it will close two bakery sites in Greenford and Birmingham during the course of 2013, removing approximately 130 distribution routes, resulting in approximately 900 fewer jobs across the company's bread division.

* ARBUTHNOT : The broker proposed to raise 20 million pounds through a non pre-emptive placing of new ordinary shares.

* BIG YELLOW GROUP : The storage firm reported first-half pretax profit of 27.2 million pounds, compared with 6.4 million pounds for the same period a year ago.

TODAY'S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Written by David Brett)



blog comments powered by Disqus
most popular on facebook
talking point on sify finance