UK Stocks-Factors to watch on July 13

  • Reuters
  • Stock Market News
UK Stocks-Factors to watch on July 13
Credit: © Reuters.

July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 20
points on Wednesday, according to financial bookmakers.

* The UK blue chip index closed at 6,680.69, flat in percentage terms, on
Tuesday, but near its highest level since August last year, as political
uncertainty eased following the news Theresa May will be the next prime

* MARKS & SPENCER: The new boss of Marks & Spencer MKS.L appealed to the
British retailer's army of private shareholders to back his attempt to revive
its clothing business, but some attendees at Tuesday's annual investor meeting
remained fearful of another false dawn.

* POUNDLAND: South Africa's Steinhoff SNHG.DE is likely to make an $800
million swoop for Britain's Poundland PLND.L , analysts say, as weaker
sterling, a lower share price and downbeat economic outlook make the no-frills
retailer's valuation more enticing.

* UK BANKS: All bank loans to small businesses would in future be eligible
for a reduction in capital charges, not just loans of up to 1.5 million euros
($1.66 million), under a proposal made by the EU's outgoing financial services
chief on Tuesday.

* UK GOVERNMENT: Britain's opposition Labour Party ruled on Tuesday that its
leader Jeremy Corbyn had the automatic right to stand in a new leadership
contest, setting the stage for a struggle between the veteran socialist's
supporters in the country and party lawmakers who want to oust him. UK GOVERNMENT: Ratings agency Moody's Investors Service welcomed the
faster-than-anticipated change in leadership of Britain's government but said it
also increased the risk of a looser fiscal stance.

* OIL: Crude futures fell on Wednesday as investors locked in gains after
oil prices surged nearly 5 percent in the previous session, partly on forecasts
from the U.S. government and OPEC that demand would increase next year.

* COPPER: London copper surged through the $5,000 mark on Wednesday for the
first time since late April, as renewed appetite for risk triggered a furious
flurry of short-covering.

* GOLD: Gold on Wednesday edged up slightly after suffering its biggest fall
in seven weeks, with global equities rallying on easing political uncertainty in
Britain, which is set to get a new prime minister. UK CORPORATE DIARY:
J D Wetherspoon PLC JDW.L Q4
Fenner PLC FENR.L Q3
Barratt Developments PLC BDEV.L Trading Statement
Burberry Group PLC BRBY.L Q1

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