September 13, 2017 / 6:37 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on Sept 13

(Adds company news, futures)

Sept 13 (Reuters) - Britain’s FTSE 100 index is seen opening 7 points lower on Wednesday, according to financial bookmakers, with futures down 0.33 percent ahead of the cash market open.

* ALLIANCE PHARMA: British specialty pharmaceutical company Alliance Pharma Plc on Wednesday reported an 8.4 percent rise in first-half revenue, helped by international sales of its scar reduction product and eye supplement.

* DUNELM: British home furnishings retailer Dunelm Group Plc said it expected British consumers’ disposable incomes to be under pressure as it reported a drop in sales in the 12 months to June.

* HALFORDS: British bicycles to car parts retailer Halfords on Wednesday named Dixons Carphone executive Graham Stapleton as its new chief executive with effect from January next year.

* ROYAL DUTCH SHELL: Royal Dutch Shell is seeking to withdraw from Iraq’s Majnoon oilfield and the oil ministry has started preparations to finalise its exit, according to an oil ministry letter and oil officials.

* SABRE-IPO: British motor insurer Sabre is planning an initial public offering (IPO) that could value it at 600 million pounds ($800 million) after failing to find a buyer, sources with knowledge of the matter said.

* PETROPAVLOVSK: Shares in Russia-focused gold miner Petropavlovsk fell on Tuesday after the company reported a rise in first-half profit as analysts said it was too soon to tell what difference changes at the top would make.

* LONMIN: The South African mines ministry has told platinum miner Lonmin that it failed to meet some of its social and labour obligations, the producer said on Tuesday, but added it did not think its operating licence was in jeopardy.

* GOLD: Gold prices held steady on Wednesday as the dollar remained firm, with safe-haven demand for the metal buoyed after U.S. President Donald Trump’s latest comments on tensions over North Korea.

* COPPER: London copper prices on Wednesday clawed back some of their overnight losses as selling by funds trailed off, while Shanghai contracts for the metal edged lower.

* OIL: Oil prices were mixed on Wednesday, dampened by reports of rising U.S. crude stockpiles but retaining some of the gains made in the previous session after OPEC said it expected higher demand for its crude next year.

* The UK blue chip index ended the session 0.2 percent lower at 7,400.69 points on Tuesday, after stronger-than-expected inflation figures for August sent the pound GBP=EBS to a one-year high against the dollar, weighing on mostly foreign-earning blue-chips.

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


> Financial Times

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