UK Stocks-Factors to watch on Nov 12

Last Updated: Mon, Nov 12, 2012 07:21 hrs

* Britain's FTSE 100 index is seen opening down as much as 9 points, or 0.2 percent lower on Monday, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* The FTSE 100 closed down 6.37 points, or 0.1 percent at 5,769.68, after a choppy session in which it sunk to a two-month low at 5,715.23, as worry over the United States's looming "fiscal cliff" overshadowed robust U.S. consumer sentiment data.

* London copper rebounded on from two month lows hit the session before after Greece's lawmakers approved a pivotal budget reform which lifted the euro, but gains are expected to be capped by concerns over China's appetite for the metal.

* XSTRATA, GLENCORE : The mining-related companies are moving to boost shareholder turnout in an upcoming vote on their proposed merger, according to the Financial Times.

* LONMIN : Executives at Xstrata are attempting to orchestrate a management coup at Lonmin. Xstrata is the largest shareholder and it does not want to contribute to a planned rights issue unless it can clear out the executive team.

* ANGLO AMERICAN : Chris Griffith, a South African, has emerged as the favourite to take the reins at Anglo American after the resignation of Chief Executive Cynthia Carroll, said the Sunday Times.

* Investors in BG Group face fresh turmoil with the oil and gas group forced to search for a new chief financial officer. Fabio Barbosa was granted medical leave in September. It is understood he will not be returning, according to the Sunday Times.

* Royal Mail will unveil a sharp jump in profits this week, accelerating plans for a privatisation next year that could raise 2 billion pounds ($3.18 billion), according to various newspapers.

* BANKS: The CBI wants the British government to bring in new laws to curb compensation payouts from banks for mis-selling PPI and other financial products, according to the Times.

* ROYAL BANK OF SCOTLAND : The UK lender has kick-started the process to dispose of the 316-branch business rejected by Santander, formally appointing investment bank UBS to run the sale, according to the Sunday Telegraph.

* 3i : The private equity firm is looking at launching a $500 million fund in Brazil next year in one of its first moves to expand after a restructuring that has cut a third of its workforce, said the Sunday Telegraph.

* WPP : Leading shareholders in the advertising giant WPP have warned its chief executive, Sir Martin Sorrell, that he faces another nasty battle with them unless he agrees to a significant pay cut, acccording to the Independent.

DE LA RUE : A Canadian banknote maker, Fortress Paper, is set to challenge British rival De La Rue on the London Stock Exchange as it eyes up a 200 million pound flotation early next year, according to the Observer.

* BRITVIC : Plans for a 1.4 billion pound merger between the maker of Robinsons squash and the owner of Irn-Bru have been dealt a blow after an influential investor criticised the terms of the deal. Harris Associates, Britvic's eighth-biggest shareholder with 3.4 percent, spoke out amid simmering discontent, said the Sunday Times.

* REDROW : Investors will on Monday register one of the biggest protest votes this year, in a move against Redrow's senior non-executive director, according to the Financial Times. ž



> Financial Times

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