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UPDATE 2-UK Stocks-Factors to watch on June 14
June 14, 2017 / 6:47 AM / 4 months ago

UPDATE 2-UK Stocks-Factors to watch on June 14

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June 14 (Reuters) - Britain’s FTSE 100 index is seen opening 1 point lower on Wednesday, according to financial bookmakers, with futures down 0.1 percent ahead of the cash market open.

* WH SMITH: British books and stationery retailer WH Smith Plc said its sales rose 2 percent in the 15 weeks to June 10 as a strong performance at outlets at transport hubs outshone weakness in its high street operations.

* GEMFIELDS: China’s Fosun International Ltd joined the race for Fabergé owner, Gemfields Plc, after it made an initial proposal regarding a possible cash offer for the British precious stones miner.

* BRITISH AMERICAN TOBACCO: British American Tobacco said on Wednesday it continued to perform “very well” and was trading in line with its expectations.

* BELLWAY: British housebuilder Bellway said demand for its homes did not slow in the run-up to a June 8 national election, bucking a trend which generally sees some buyers put off purchases ahead of the uncertainty of a vote.

* STANDARD CHARTERED: Standard Chartered aims to expand its U.S. presence with a local hiring push and by bolstering its team in the country with senior staff from its main regions of Asia, the Middle East and Africa, its top bankers said.

* BHP: Activist shareholder Elliott Management called on BHP on Wednesday to “upgrade” its board of directors as the mining giant prepares to select a new chairman this week.

* RYANAIR: European low-cost airline Ryanair is in talks with Boeing about placing an order for its proposed new 737 MAX 10 airliner, two people familiar with the matter said on Tuesday.

* ELECTION-BREXIT: Britain entered a sixth day of political limbo on Wednesday with Prime Minister Theresa May yet to seal a deal to prop up her minority government and facing calls to soften her stance on Brexit days before negotiations on leaving the EU begin.

* EU-MARKETS/CLEARING: The European Union plans to give itself powers to move euro clearing business away from London’s financial sector to the EU after Brexit and adopt a model closer to that operated by the United States, the bloc’s executive said on Tuesday.

* ELECTION-BREXIT: British Prime Minister Theresa May should consult with the opposition Labour Party and others on her Brexit strategy, David Cameron, May’s predecessor, said on Tuesday, according to the Financial Times.

* OIL: Oil prices settled higher on Tuesday after OPEC detailed supply cuts around the world, but the cartel also said overall production rose in May, and crude stayed well below $50 a barrel despite the modest recovery.

* GOLD: Gold turned slightly higher on Tuesday, as the market awaited signals of future monetary tightening by the U.S. Federal Reserve and a Senate panel’s questioning of Attorney General Jeff Sessions about his dealings with Russian officials.

* The UK blue chip index closed 0.15 percent lower at 7,500.44 points on Tuesday, as investors continued to sift through the fall-out from Britain’s election.

* 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 Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Justin George Varghese)

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