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UK Stocks-Factors to watch on June 24
June 24, 2013 / 6:42 AM / 4 years ago

UK Stocks-Factors to watch on June 24

LONDON, June 24 (Reuters) - Futures for Britain’s FTSE 100 index pointed to a lower open on Monday on concerns about a cut in U.S. monetary stimulus and China’s banking sector. For more on the factors affecting European stocks, please click on

* At 0635 GMT, futures for the index were down 0.3 percent. The UK blue chip index fell 43.34 points, or 0.7 percent, to 6,116.17 points on Friday, the lowest seen since January. The index recorded a fifth straight weekly loss.

* VODAFONE GROUP : The British company said on Monday it has agreed a deal with Kabel Deutschland to buy Germany’s largest cable operator for 7.7 billion euros, snatching it from under the nose of John Malone’s Liberty Global .

* Vodafone said it would pay 87 euros ($110) per share for the group in a bid to offer more competitive and comprehensive packages with television, fixed-line and broadband services to its existing mobile customers.

* ENRC, KAZAKHMYS : The board of Kazakh miner Kazakhmys, the single largest shareholder in miner ENRC, has said it will back a buyout bid for its troubled rival, an offer it characterised as the only “realistic opportunity” to sell out.

* Support from Kazakhmys, with its long-problematic 26 percent stake in ENRC, was critical for the bidding consortium - ENRC’s trio of founders and the Kazakh government - who have now confirmed an offer valuing ENRC at around 3 billion pounds ($4.6 billion).

* RIO TINTO : The miner has scrapped the proposed sale of its $1.3 billion diamonds business, a setback for its plan to sell a swag of mines and company stakes to tighten operations during a global industry downturn.

* LLOYDS BANKING GROUP : The bank has asked the European competition authorities to give it an extra two years to sell the hundreds of branches it is required to dispose of as a condition for its state bail-out, the Sunday Telegraph newspaper said. Lloyds declined to comment.

* BARCLAYS : German tax authorities are investigating Barclays over the use of legal loopholes which cut the British lender’s tax bill by billions of euros, a German newspaper reported on Saturday.

* BALFOUR BEATTY : Gammon Construction, a Hong Kong construction company that is 50 pct owned by Balfour Beatty, was awarded a contract to design and build a major strategic road by HKSAR Highways.

* London copper futures dropped for a fifth session out of six on Monday and stayed near 20-month lows, hurt by a firmer dollar and worries over top consumer China where a liquidity squeeze could curb demand already hit by slower economic growth.

* NATIONWIDE : Britain’s biggest customer-owned financial services group is drawing up plans to raise at least 1 billion pounds ($1.5 billion) to fill a hole in its balance sheet, the Sunday Times said.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by Atul Prakash, editing by Tricia Wright)

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