UPDATE 1-UK Stocks-Factors to watch on Monday Aug 13

Mon Aug 13, 2012 7:38am BST

* Britain's FTSE 100 index is seen to open down 2 points to up 1 point on Monday, according to financial bookmakers, consolidating recent gains as investors look for support from expected future central bank action to support global economic growth. For more on the factors affecting European stocks, please click on

*Late on Friday, the president of the San Francisco Federal Reserve, John Williams said the Fed should launch a fresh round of bond-buying to lower the U.S. unemployment rate more quickly, fuelling speculation that the central bank could soon unveil a new round of quantitative easing.

* The UK blue chip index closed down 4.40 points, or 0.1 percent on Friday at 5,847.11 edging away from four-month highs having posted a 1 percent gain on the week, as Chinese data pointed to sluggish growth for the world's second largest economy and weighed on risk-sensitive commodity stocks and banks.

* Weak miners are expected to weigh in London as Copper prices fell for a fourth session on in Asia trade Monday amid nagging worries about the global economy, although losses were limited by hopes that the spate of disappointing economic data around the world last week would spur governments to roll out more stimulus measures.

* Brent crude rose above $114 per barrel to a more than three-month high on Monday on renewed fears of supply disruption as Israel's latest comments on stopping Iran from proceeding with a disputed nuclear programme stoked tension in the region.

* BP - Eagle Rock Energy Partners said on Friday that it will acquire BP America's two processing plants and associated gathering system in the Texas Panhandle for $227.5 million in cash to expand in the liquids-rich region.

* MICHAEL PAGE INTERNATIONAL - The recruitment firm reported a 37.9 percent drop in first-half pretax profit to 28.2 million pounds, and it anticipates a challenging second half , with full-year operating profit from trading activities to be broadly in line with estimates.

* PETROFAC - The oil services firm beat forecasts with a 32 percent jump in first-half profit and said it was confident of meeting its profit targets for this year and in the medium term despite seeing some delays in contracts coming up for tender.

* MITIE GROUP - The support services firm said it is well placed to achieve good levels of organic growth in the current financial year with, at June 30, 87 percent of budgeted revenues for this financial year secured, and it remains very positive about the range of outsourcing and energy services opportunities.

* HARVEY NASH GROUP - The staffing firm said in a trading update that it expects to report further increases in revenue and gross profit, with full-year 2012 operating profit expected to improve to no less than 4.4 million pounds, up from 4.1 million pounds in 2011.

* IAG - British Airways parent may consider taking a stake in its oneworld alliance partner American Airlines, a move that could block any takeover of American by IAG rival Delta. "We would consider taking a stake in American Airlines if that is something that American would welcome," an IAG spokeswoman said on Sunday following a story in the Mail on Sunday.

* ANGLO AMERICAN - The miner's chief executive, Cynthia Carroll, is under pressure to step down from shareholders who have demanded an immediate change of management, the Daily Telegraph reported on Monday.

* BARCLAYS - The bank's incoming chairman,David Walker is looking for a "polymath" to fill the bank's vacant CEO post and wants to retain its investment division, he said in a newspaper interview released on Saturday.

An unnamed top 10 shareholder in Barclays has said that RBS boss Stephen Hester would be the ideal candidate to become the new chief executive of Barclays, The Sunday Telegraph said.

* STANDARD CHARTERED - The bank and New York state regulators have discussed a settlement amount to resolve an inquiry into whether the British bank's records improperly hid transactions tied to Iran even as the bank prepares for a hearing to defend its New York license, according to sources familiar with the situation.

* AVIVA - Guggenheim Life, the insurance arm of investment firm Guggenheim Partners LLC, is in pole position to buy some, or all, of Aviva USA, valuing the U.S. unit of Britain's No. 2 insurer at 800 million pounds ($1.25 billion), according to the Sunday Telegraph.

* ENRC - The Kazakh miner's chairman Mehmet Dalman has hired Amre Youness, who worked on the original flotation of the mining company, to carry out work on his plans to split the firm in two, The Sunday Telegraph said.

* KAZAKHMYS - Australian mining executive Philip Aiken has emerged as an early favourite to replace Vladimir Kim as chairman of Kazakhmys the Sunday Telegraph said.

* BERKELEY GROUP - - Executives at the housebuilder are in line for one of the most generous incentive schemes outside the FTSE 100 if they deliver on an ambitious plan to return cash to shareholders, the Sunday Times said.

* No important British economic data are due for release on Monday, but investors will have some big numbers to digest later in the week, including July inflation, claimant count, and retail sales numbers, plus the publication of minutes from the last Bank of England Monetary Policy Committee meeting.

* No U.S. data are due for release on Monday either.

TODAY'S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by Jon Hopkins)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
Trader_101x wrote:
With the price of copper retreating and central bank action within reach, there will be a mixed uptake of risk assets; miners will inevitably consolidate, and banks should continue their ascent, considering the fact that impending stimulus packages make it very difficult to short the market.

Aug 13, 2012 7:44am BST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.