Thursday January 8, 07:09 AM
UK at a Glance-UK Stocks -- Factors to watch on Jan 8
LONDON, Jan 8 (Reuters) - Britain's FTSE 100 index is seen opening
down about 1 percent on Thursday ahead of the Bank of England's interest rate
decision, according to financial bookmakers, as investors refocused on the weak
economy.
Financial bookmakers expected the UK benchmark to open down about 47 points
after closing down 131.41 points, or 2.8 percent, at 4,507.51 on Wednesday.
U.S. stocks suffered their worst decline in more than a month after a grim
private sector jobs report coupled with a revenue warning from top chip maker
Intel Corp (NASDAQ: INTC - news) revived deep concerns about the economy.
EMC Corp (NYSE: EMC - news) , the world's biggest maker of data storage equipment for
businesses, said it plans to cut 2,400 jobs, or 6 percent of its staff, to help
weather the global recession.
In Asia, Tokyo's Nikkei (news) average fell 3.9 percent.
The Bank (NASDAQ: TBHS - news) of England is expected to cut interest rates by 50 basis points to
1.50 percent when it announces its verdict at 1200 GMT.
The Times newspaper said Britain could print more money in an effort to ease
the credit crisis following a highly anticipated drop in interest rates.
European Central Bank President Jean-Claude Trichet said in a magazine
published on Wednesday that there has been a significant deterioration in the
euro zone economy in the last couple of months.
Oil prices, meanwhile, traded up above $43 a barrel. Three rockets
fired from Lebanon exploded in northern Israel on Thursday, the first since the
Jewish state launched an offensive in Gaza two weeks ago, Israeli police said.
* US STOCKS-Wall St in biggest fall in a month on jobs, tech
* Nikkei snaps 7-day rally on econ fear, chip stocks sink
* Economic crisis fears return, drag on Asian stocks
* FOREX-Dollar rebounds after sharp fall on dismal job data
* Oil below $43 after 12 pct fall, eyes US jobs data
* PRECIOUS-Gold bounces back after touching 2-week low
UK stocks to watch on Wednesday are:
ROYAL BANK OF SCOTLAND (LSE: RBS.L - news)
Royal Bank of Scotland is mulling a sale of its 4.3 percent stake in Bank of
China as part of a widespread review of its international assets, the
Financial Times said.
LAND SECURITIES (LSE: LAND.L - news)
Land Securities, the UK's largest property company, is in the final stage of
the sale of Trillium, its outsourcing business, to a private London property
group, the Financial Times said.
BARCLAYS (LSE: BARC.L - news)
Barclays is to shed up to 150 bankers responsible for issuing loans to
medium-sized businesses in the commercial bank division, the Times (1832.HK - news) reported.
BANKS
Britain's banks must spend almost 1 billion pounds upgrading their computer
systems so that depositors can quickly recover their savings if a lender
collapses, the Financial Services Authority said, the Financial Times reported.
XSTRATA
Xstrata (LSE: XTA.L - news) , the world's fourth-largest copper miner, has resumed open pit
mining operations at its Ernest Henry copper and gold project in Australia after
rain disruptions, the company said on Thursday.
ROLLS-ROYCE
Rolls-Royce has appointed Lawrie Haynes, former chief executive of British
Nuclear Group, to help spearhead its push into Britain's resurgent nuclear
market, the Financial Times said.
SAINSBURY
The supermarket group is due to issue its third-quarter trading update.
ABERDEEN ASSET MANAGEMENT (LSE: ADNP.L - news)
The Asian unit of UK fund manager, once Satyam Computer Services' largest shareholder, said on Thursday it no longer held any shares in
the beleagured Indian IT outsourcing firm.
MICHAEL PAGE INTERNATIONAL
The recruitment consultant is due to issue its fourth-quarter trading
update.
HAYS
The recruitment firm is due to issue its trading update.
PERSIMMON (LSE: PSN.L - news)
The builder is due to issue its trading update.
WELLSTREAM
The company is due to issue its trading update.
TODAY'S UK PAPERS
> Financial Times
> Other business headlines
(Reporting by Dominic Lau)
Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit http://topnews.reuters.com Keywords: MARKETS BRITAIN FACTORS
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