October 30, 2018 / 7:51 AM / 9 months ago

UPDATE 1-UK Stocks-Factors to watch on Oct 30

(Adds company news items and futures)

Oct 30 (Reuters) - Britain’s FTSE 100 index is seen opening 16 points lower at 7,011 on Tuesday, according to financial bookmakers, with FTSE 100 futures expected to be up 0.04 percent ahead of the cash market open.

* BP: BP’s third-quarter profit rose to a five-year high, boosted by higher oil prices as the $10.5 billion acquisition of BHP Billiton’s U.S. shale business was set to complete this week.

* RECKITT BENCKISER: British consumer goods maker Reckitt Benckiser Group reported a smaller-than-expected rise in third-quarter sales growth on Tuesday due to a temporary manufacturing disruption at a European baby formula factory.

* IG GROUP: British online financial trading firm IG Group Holdings Plc named June Felix as its new chief executive officer on Tuesday, following the departure of veteran Peter Hetherington last month.

* OCADO, KROGER: British online grocer Ocado and U.S. supermarket chain Kroger Co have agreed service and operational terms in relation to the deal they struck in May.

* WH SMITH: Books, newspaper and stationery seller WH Smith has agreed to buy airport-based digital accessories retailer InMotion for 155 million pounds ($198.40 million).

* ASTRAZENECA: AstraZeneca said it would sell the European rights to acid-reflux medicine Nexium to Grunenthal for an upfront $700 million and future sales-related payments of up to $90 million as it is not in the company’s targeted therapy areas.

* RBS: The British government has set out its exit strategy from its biggest taxpayer-funded bailout of the financial crisis, announcing plans to sell all of its shares in Royal Bank of Scotland by 2024.

* BHP: The world’s biggest miner BHP Billiton, has trimmed its expectations of global growth for next year and 2020 due to a “lose-lose” result from the U.S.-China trade conflict, a senior executive said on Tuesday.

* GOLD: Gold prices edged down on Tuesday as the U.S. dollar firmed on renewed fears of an intensification in the Sino-U.S. trade war and worries over slowing global economic growth.

* OIL: Brent oil prices dipped on Tuesday, weighed down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran’s crude exports.

* The UK blue chip index closed up 1.4 percent on Monday as HSBC led a rally in banking stocks after strong results, and investors digested finance minister Philip Hammond’s pledge to raise public spending and cut taxes for households in his annual budget.

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


> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar in Bengaluru)

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