UK Stocks-Factors to watch on Aug 3

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  • Stock Market News
UK Stocks-Factors to watch on Aug 3
Credit: © Reuters.

Aug 3 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening flat to up by 8 points on Wednesday, according to financial bookmakers.

* The UK blue chip index closed 48.6 points lower on Tuesday at 6645.4 points as Britain's benchmark share index fell to a two-week low as the heavily weighted banking and energy sectors dropped. RBS: Banco Santander SAN.MC has made an offer to take over Royal Bank of Scotland's RBS.L Williams & Glyn business, a source familiar with the situation told Reuters on Tuesday. HSBC: HSBC HSBA.L said on Wednesday its core first-half profit fell 29 percent, slightly below estimates, as revenue at Europe's biggest bank was hit by slowing economic growth in its key markets of Britain and Hong Kong. TULLET PREBON/ICAP: Britain's competition watchdog Competition and Markets Authority (CMA) has accepted in principle merger undertakings between Tullett Prebon Plc TLPR.L and ICAP (LON: IAP ) PlcIAP.L . RIO TINTO: Rio Tinto Plc/Ltd RIO.AX RIO.L said on Tuesday it would invest $338 million to complete the development of its Silvergrass iron ore mine in Western Australia. WILLIAM HILL: British bookmaker William Hill Plc WMH.L said on Tuesday it bought software maker Grand Parade Ltd for 13.6 million pounds ($18 million) in cash and stock. CONSTRUCTION: As Britain's construction industry reels from its sharpest downturn for seven years, it is companies that operate under longer-term contracts and have less exposure to London that are better weathering market uncertainty caused by the Brexit vote. UK ECONOMY: Britain's economy will shrink this quarter and has a 50 percent chance of suffering a mild recession before the end of next year because of June's vote to leave the European Union, an economic think tank said on Wednesday. RETAIL: British shop prices declined at the slowest rate since August last year, according to an industry survey published on Wednesday, adding to tentative signs that price pressures may be building since June's Brexit vote. UK FCA: Britain's markets watchdog warned financial firms on Tuesday they could be fined for improper use of unauthorised introducer firms which provide client leads as the regulator roots out pension scams. UK BANKS: Britain should expand fiscal policy to stimulate its economy after it voted to leave the European Union, because the Bank of England's monetary policy has largely reached its limits and is likely to be less effective than it has been in the past, two former BoE policymakers said on Tuesday. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets




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