UK Stocks-Factors to watch on Jan 23

  • Reuters
  • Stock Market News
UK Stocks-Factors to watch on Jan 23
Credit: © Reuters.

Jan 23 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 31 points at 7,168 on Monday, according to financial bookmakers.

* The UK blue chip index slipped 0.14 percent to close at 7198.44 points on Friday, posting its biggest weekly loss since before Donald Trump won the U.S presidential election in November, as investors grew cautious before his inauguration. BOVIS/BERKELEY: Bovis Homes Group Plc BVS.L investor Schroder Investment Management SDR.L has written to Berkeley Group Holdings Plc BKGH.L , urging the London builder to consider an all-share merger with its smaller rival, the Sunday Times reported. SHELL: Saudi Basic Industries Corp (SABIC) 2010.SE has signed an agreement to acquire the 50 percent that it does not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell RDSa.L , for $820 million, SABIC said on Sunday. JOHNSTON PRESS: The interim chairman of newspaper publisher Johnston Press Plc JPR.L has asked Rothschild to examine refinancing options in an attempt to navigate the debt-saddled company through a potential financial crunch, the Telegraph reported on Sunday, citing City sources. UK REFERENDUM: Britain will on Monday outline a new, interventionist approach to balancing its heavily services-based economy for the post-Brexit era, seeking to reinvigorate industrial production and stimulate investment in technology and R&D. UK FINANCIAL SERVICES: Optimism about the business environment for Britain's financial services firms fell for a fourth consecutive quarter, according to a survey published on Monday, the longest decline since the global financial crisis. BREXIT: U.S. banks Morgan Stanley (NYSE: MS ) MS.N and Citigroup (NYSE: C ) C.N have identified many of the roles that will need to be moved from Britain following its exit from the European Union, sources involved in the processes told Reuters. OIL: Oil edged up on Monday on statements over the weekend from OPEC and other producers that they have been successfully implementing output cuts, but gains were limited by a surge in U.S. drilling. O/R

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



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