UK Stocks-Factors to watch on June 13

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

June 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen rising 38 points at the open on Tuesday, according to financial bookmakers.

* ELECTION: Theresa May told Conservative lawmakers on Monday she would serve as prime minister as long as they wanted her after a botched election gamble cost the party its majority in parliament and weakened Britain's hand days before formal Brexit negotiations. BREXIT/UK M&A: The political shock of Prime Minister Theresa May's failure to win a majority in a national election could put the brakes on takeover activity in Britain, dealmakers told Reuters on Monday. BREXIT/UK FINANCE: Finance firms in Britain say they are pushing ahead with plans to move staff and operations to continental Europe, despite a chance that the government may soften its 'Hard Brexit' policies after losing its parliamentary majority. ALLIED IRISH BANKS: Allied Irish Banks ALBK.I plans to raise up to 3.3 billion euros ($3.7 billion) when it sells a 25 percent stake on the Dublin and London stock markets in the biggest test yet of investor appetite for Irish banks. BP: BP PLC BP.L violated its supply contract when it sold oil to refiner Monroe Energy that was a blend of lower-valued Texas crude with premium varieties, Monroe alleged in a federal court filing last week. LSE: The London Stock Exchange LSE.L expects its indices and clearing businesses to drive growth in core profit margin between now and 2019, the company said on Monday, shrugging off concerns over the collapse of a planned merger with Deutsche Boerse DB1Gn.DE and uncertainty over Brexit. RBS: Royal Bank of Scotland RBS.L is close to a multibillion pound settlement with a US regulator over toxic mortgage bonds mis-selling, Sky News reported. GOLD: Gold held steady on Tuesday as investors remained cautious ahead of a two-day U.S. Federal Reserve meeting that is likely to provide hints on the central bank's interest rate policy for the remainder of the year. COPPER: London copper eased on Tuesday from near a two-month high ahead of the U.S. Federal Reserve's interest rate decision due later in the week, while China zinc premiums surged on healthy demand and limited supply. OIL: Oil prices edged up early on Tuesday, lifted by statements that OPEC-leader Saudi Arabia was making significant supply cuts to customers, although rising U.S. output meant that markets remain well supplied. The UK blue chip index closed down 0.2 percent at 7,511.9 on Monday, as a technology sell-off spread across Europe, with investors dumping tech and other cyclical stocks, which feature heavily on the blue-chip index, and heading into defensive sectors. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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