UK Market News

Thursday October 22, 07:16 AM
UK at a Glance-UK Stocks -- Factors to watch on Oct 22

LONDON, Oct 22 (Reuters) - Britain's FTSE 100 index is seen opening 58-66 points, or as much as 1.3 percent lower on Thursday, according to financial bookmakers, tracking a late reversal overnight on Wall Street and falls in Asia as the

earnings roller-coaster ride continued across the Atlantic. The British blue-chip index closed 14.45 points, or 0.3 percent higher on Wednesday at 5,257.85 having fallen as low as 5,174.48 earlier in the day, recovering late on as Wall Street posted early gains. U.S. stocks, however, ended lower knocked by a late sell-off in financial issues, after an influential bank analyst recommended selling Wells Fargo shares, and as a wider-than-expected loss from Boeing disappointed investors. After-hours U.S. earnings news also disappointed, with online auctioneer EBAY (NASDAQ: EBAY - news) forecasting fourth-quarter results at the low end of expectations when posting in-line third-quarter numbers. Asian shares fell on Thursday also impacted by disappointment that Chinese growth data, though robust, offered few surprises. News that China's economy surged 8.9 percent in the third quarter, and retail sales and other indicators were robust in September, reinforced optimism Asia was on a sustainable recovery path. But the outcome was widely expected, giving investors little to trade on. The main domestic macro focus will be on September British retail sales numbers, with a 0.5 percent rise expected on the month, after a flat reading in August, giving a year-on-year increase of 2.8 percent, up from 2.1 percent in the previous month. Across the Atlantic, September U.S. leading indicators and the latest initial weekly jobless numbers will be eyed later in the session. * GLOBAL MARKETS-Asia shares slip, China data fails to help * US STOCKS-Wall St see late sell-off, financials fall * Nikkei (news) slides broadly, JAL (Berlin: JAY.BE - news) rising streak snapped * FOREX-Dollar up as China data offers no upside surprise * TREASURIES-Prices fall, worry monetary stimulus will wane * Oil falls 0.5 pct; around $81/bbl as dollar gains * Gold flat near $1,060/oz, weaker dollar supports * METALS-Shanghai copper hits 2-month high on LME gains British stocks to watch on Thursday are: ANGLO AMERICAN (LSE: AAL.L - news) The global miner issues a Q3 output report. LONMIN (LSE: LMI.L - news) The platnum miner posts a Q4 output report. BHP BILLITON (LSE: BLT.L - news) , RIO TINTO (LSE: RIO.L - news) A proposed iron-ore joint venture between BHP Billiton Ltd and rival Rio Tinto Ltd was on track, BHP's outgoing Chairman Don Argus told reporters after a business lunch on Thursday. AVIVA A large restructuring effort is to follow a lengthy review of Aviva (LSE: AV.L - news) 's 12 businesses on the European mainland by Aviva Europe's chief executive, Andrea Moneta, the Financial Times reported. LLOYDS BANKING GROUP (LSE: LLOY.L - news) The bank s planning to launch a rights issue and refinancing next week, provided the bank can persuade regulators and the government to agree to a deal before the weekend, the Financial Times said. BAE SYSTEMS (LSE: BA.L - news) Oshkosh Corp's winning bid for a potential $3.5 billion U.S. Army medium-sized truck contract was about 10 percent lower than rival BAE Systems' 'very aggressive' bid, BAE said Wednesday, explaining a third formal challenge to the award they filed on Friday. NATIONAL EXPRESS (LSE: NEX.L - news) The transport group is expected to reveal disappointing figures for its third-quarter trading on Thursday, as the company faces a takeover bid from its contemporary Stagecoach, the Daily Telegraph said. PETROFAC (LSE: PFC.L - news) The oil services company issues a trading update. DEBENHAMS The department stores group posts full-year results. THORNTONS (LSE: THT.L - news) The chocolate retailer holds its annual general meeting. STOBART GROUP (LSE: STOI.L - news) The logistics company posts first-half results. ASSOCIATED BRITISH FOODS (LSE: ABF.L - news) Primark, AB Food's fashion retail business, is in negotiations to sign up for a 10,000 sq ft outlet in St David's 2, a massive 675 million pound extension to Cardiff's existing shopping centre, The Independent said. HMV GROUP (LSE: HMV.L - news) HMV will open a three-screen cinema on the second floor of its Wimbledon store on Friday in a move designed to offset declining sales of CDs and stalled DVD growth, The Times says. PARAGON GROUP (LSE: PAG.L - news) The firm is planning to acquire loan books from financial institutions struggling in the financial crisis and, according to chief executive Nigel Terrington, the lender to private landlords will consider businesses ranging from 'tens of millions to hundreds of millions of pounds', The Times said. RESEARCH NOW (LSE: RNOW.L - news) At the close on Wednesday, Research Now said it has received an indicative cash takeover bid of 430p a share from the Dallas-based company e-rewards. LUMINAR GROUP The nightclubs and bars operator reports first-half results. MORSE (LSE: MOR.L - news) The IT services group holds its annual general meeting. SMITHS NEWS (LSE: NWS.L - news) The news distributor delivers full-year results. REDSTONE (LSE: RED.L - news) The communications solutions provider holds its annual general meeting. DRAGON OIL (Dublin: DRS.IR - news) The Irish-based oil explorer issues a trading update. (Reporting by Jon Hopkins) TODAY'S UK PAPERS > Financial Times > Other business headlines 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