UK Stocks-Factors to watch on Jan 10

  • Reuters
  • Stock Market News
UK Stocks-Factors to watch on Jan 10
Credit: © Reuters.

Jan 10 (Reuters) - Britain's FTSE 100 .FTSE index is expected to open down 4 points at 7,233 on Tuesday, according to financial bookmakers.

* The UK blue chip index touched a new record high of 7,243.76 points, then settled at 7,237.77 points, up 0.4 percent, for the close on Monday. It chalked up its tenth straight daily session of gains pushed up by rallying resource stocks and a weak sterling. TESCO: Tesco TSCO.L , Britain's biggest retailer, has proposed a shake-up of its distribution network that will result in the loss of a net 500 jobs, it said on Monday. CVC CAPITAL PARTNERS: Private equity firm CVC Capital Partners CVC.UL has hired Swiss bank UBS UBSG.S for the sale of its stake in Lecta, one of southern Europe's largest paper manufacturers, three sources close to the deal said. BHP: Brazilian miner Samarco and its shareholders Vale SA VALE5.SA and BHP Billiton BHP.AX , BLT.L have requested to extend until Jan. 19 a deadline to pay 1.2 billion reais ($375.39 million) in guarantees related to the collapse of a tailings dam in 2015, Vale said in a statement on Monday. BRITAIN ECONOMY: British retail sales picked up speed in December, an industry survey showed, but sales of bigger ticket items were sluggish, a possible early sign that consumers are bracing for a Brexit hit to their spending power. OIL: Oil markets edged higher on Tuesday on expectations that at least some planned production cuts would be implemented, making a slight recovery from big losses the previous day over doubts the agreed reductions would rebalance an oversupplied market. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

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