UK Stocks-Factors to watch on Oct. 7

  • Reuters
  • Stock Market News
UK Stocks-Factors to watch on Oct. 7
Credit: © Reuters.

Oct 7 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 12 points at 7,143 on Monday, according to financial bookmakers.

*TESCO: John Kingman, who oversaw Britain's bailout of its banks in the financial crisis and then led the body responsible for the shareholdings, is being lined up as the chairman of the financial services arm of Tesco Plc TSCO.L , Sky News reported on Saturday. Vodafone VOD.L is testing innovative open-access radio technology in Britain - a first for Europe - in a move that could break the grip Huawei HWT.UL , Ericsson (BS: ERICAs ) ERICb.ST and Nokia NOKIA.HE hold on the telco equipment market.

The bank HSBA.L is planning to cut up to 10,000 jobs as interim Chief Executive Officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday. Oil prices fell on Monday, extending last week's heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China trade war.

Gold prices edged higher on Monday as investors were cautious ahead of this week's Sino-U.S. trade talks following a report that Beijing would likely disagree to a broad trade deal with the United States. UK blue-chip index rose 1.1% on Friday after encouraging U.S. job data calmed investors' nerves but the bourse still posted its worst week since that of Oct. 12 last year.


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