June 8, 2020 / 5:46 AM / a month ago

UK Stocks-Factors to watch on June 8

June 8 (Reuters) - Britain’s FTSE 100 futures index down 0.58% on Monday.

* ASTRAZENECA: Britain’s AstraZeneca has approached U.S. rival Gilead Sciences about a possible merger to form one the world’s largest drug companies, Bloomberg News reported on Sunday, citing people familiar with the matter.

* HSBC: HSBC Holdings Plc Chairman Mark Tucker has warned Britain against a ban on networking equipment made by Huawei Technologies Co Ltd, claiming the bank could face reprisals in China, the Telegraph reported on Saturday.

* GOLD: Gold inched up on Monday although safe-haven demand remained subdued, after prices fell to a more than one-month low in the last session as an unexpected jump in U.S. employment boosted hopes for a swift economic recovery.

* OIL: Oil prices rose more than 2% early on Monday to their highest in three months after OPEC and its allies including Russia agreed to extend record oil production cuts until the end of July.

* The UK blue-chip index closed 2.3% higher on Friday, as optimism around a post-coronavirus economic recovery drove investors back to riskier assets.

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

TODAY’S UK PAPERS

> Financial Times

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

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