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UK Stocks-Factors to watch on Dec. 6

Published 2016/12/06, 08:44
Updated 2016/12/06, 08:50
© Reuters.  UK Stocks-Factors to watch on Dec. 6

Dec 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 4 and 14 points lower on Tuesday, according to financial bookmakers.

* The UK blue chip index closed up 0.2 percent on Monday at 6,746.83 points, with basic resources stocks leading the market higher as prices of industrial metals such as copper rose. BARCLAYS: British bank Barclays Plc BARC.L has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers that falling liquidity means they cannot use derivatives for their basic function: to hedge risk by locking in future prices. BP: Mexico awarded a consortium of Statoil STL.OL , BP BP.L and Total TOTF.PA the third block tendered in the Gulf of Mexico's Salina Basin in a historic deep water oil and gas auction on Monday. OIL: Oil prices eased early in Asia as crude output rises in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into 2017. BREXIT: Britain's financial services sector contributed a record 71.4 billion pounds ($90.99 billion) in taxes last year, highlighting the potentially big impact of the country's vote to leave the European Union, according to the City of London Corporation. fine foods from Spain has been a good trade for London firm Brindisa, but like many food and wine businesses that rely on the free movement of goods and workers within the European Union, it has been badly hit by Britain's vote to leave. Health Secretary Jeremy Hunt sought on Tuesday to assuage concerns in China about market access in the wake of the Brexit vote, pointing to Hong Kong's success as a trading hub as proof of Britain's commitment to keeping its doors open to global business. UK RETAIL: Growth in British retail sales slowed in November after a bumper October as shoppers waited for big discounts around 'Black Friday' at the end of the month, industry figures showed on Tuesday. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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