August 27, 2019 / 6:51 AM / 3 months ago

UPDATE 1-UK Stocks-Factors to watch on Aug 27

(Adds news items, futures)

Aug 27 (Reuters) - Britain’s FTSE 100 index is seen opening down 10 points at 7,085 on Tuesday, according to financial bookmakers, with futures down 0.5% ahead of the cash market open.

* ASTRAZENECA: AstraZeneca Plc said the U.S. Food and Drug Administration granted fast track status for the development of its diabetes drug Farxiga to prevent heart and kidney failure in patients with long-term kidney disease.

* CARPETRIGHT: Britain’s biggest floor coverings retailer Carpetright said its 40.7 million pound revolving credit facility will be bought by its biggest shareholder Meditor European Master Fund from its lenders NatWest and AIB.

* HUAWEI: Britain will make a decision on whether to allow China’s Huawei equipment to be used in its 5G networks in the autumn, the digital minister Nicky Morgan said.

* SHELL: Suncor Energy Inc and Shell Canada Ltd, a unit of Royal Dutch Shell Plc, have asked Canada’s energy regulator to urgently review Enbridge Inc’s proposal to switch to fixed contracts on its Mainline pipeline system, arguing the changes would be an abuse of Enbridge’s market power.

* GLENCORE: Argentina’s opposition candidate Alberto Fernandez met with mining companies including representatives from Glencore Plc on Monday in capital Buenos Aires to discuss his plans for the sector, two sources who attended the meeting said.

* Publisher Daily Mail and General Trust said on Monday it had agreed to sell its energy information business Genscape to data analytics provider Verisk Analytics for $364 million, as the publisher looks to focus more on its portfolio.

* British office space provider IWG Plc is planning to list its U.S. arm in New York for three billion pounds ($3.68 billion), Sky News reported on Saturday.

* British Airways pilots are to go on strike for three days in September, their union said on Friday, in a dispute over pay that could disrupt the peak summer holiday season.

* OIL: Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China after positive comments by Beijing, calming nerves after a round of tit-for-tat tariff hikes had sent markets reeling.

* GOLD: Gold prices were largely steady on Tuesday, retreating from an over six-year peak hit in the previous session, as U.S. President Donald Trump signalled a possible reconciliation with China, calming worries about an escalation in their trade war.

* London’s main share index handed back its early gains to end 0.5% lower on Friday after U.S. President Donald Trump’s tweeted “order” that U.S. companies shut operations in China, which dragged internationally exposed miners and banks into the red.

* For more on the factors affecting European stocks, please click on:

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Shanima A in Bengaluru)

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