December 19, 2018 / 7:59 AM / 5 months ago

UPDATE 1-UK Stocks-Factors to watch on Dec 19

(Adds company news items and futures.)

Dec 19 - Britain’s FTSE 100 index is seen 11 points lower at 6,691, with futures down 0.06 percent ahead of the cash market open on Wednesday.

* GSK: GlaxoSmithKline plans to split into two businesses — one for prescription drugs and vaccines, the other for over-the-counter products — after forming a new joint venture with Pfizer’s consumer health division.

* VIRGIN ATLANTIC: Virgin Atlantic Ltd said on Wednesday talks with Flybe Group Plc about a potential takeover offer for the British regional airline were ongoing.

* YU GROUP: YU Group, a supplier of gas and electricity to British businesses, said the country’s financial watchdog is planning to investigate whether announcements made by the company between March 6 and Oct. 24 reflected its financial status.

* GOLD: Gold prices edged higher to a more than five-month peak on Wednesday as a softer dollar supported the bullion while investors awaited cues on the rate hike trajectory of the U.S. central bank from its two-day policy meeting.

* OIL: Oil prices rebounded on Wednesday after falling for the past three sessions with worries about oversupply and a slowing global economy keeping markets under pressure though sentiment may be shifting as falling equity markets seemed to stabilise.

* The UK blue chip index closed 1.1 percent lower on Tuesday, as perpetuating concerns over slowing global growth and an oversupply of oil spooked investors.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Samantha Machado in Bengaluru)

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