UK : Factors to watch on 28 Nov 2016
Mon Nov 28 2016
Eric Whitman (223 articles)

UK : Factors to watch on 28 Nov 2016

Britain’s FTSE 100 index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers, with futures down 0.25 percent ahead of the cash market open.
* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks was offset by strength in pharma shares.
* JD SPORTS FASHION: British sportswear and fashion retailer JD Sports Fashion has purchased privately-owned outdoor clothing specialist Go Outdoors for 112.3 million pounds ($ 140.4 million), it said on Monday.

* ABERDEEN ASSET MANAGEMENT: Aberdeen Asset Management posted a year-on-year drop in full-year revenue and profit on Monday, hit by outflows across a range of products including its multi-asset and quantitative funds.* WORLDPAY: Payment card machine maker VeriFone Systems Inc said it had extended its partnership with British payments processor Worldpay Group Plc , allowing the U.S. firm to bring its payment solutions to Worldpay’s UK customers.

* NANOCO: Nanoco Group Plc, a technology company spun out of the University of Manchester, said it bought a group of quantum dot patents from Eastman Kodak Co for an undisclosed sum.

* BP: BP has agreed to buy 10 percent of Eni’s Shorouk concession offshore Egypt, which includes the giant Zohr gas field, for $ 375 million, joining other oil majors in increasing bets on the growing gas market.

* ROYAL DUTCH SHELL: Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation.

* ANGLO AMERICAN: Global miner Anglo American Plc halted all activity at its Los Bronces mine in Chile after hooded protesters seized installations early on Saturday in the second illegal occupation of the copper deposit this month, the company told Reuters.

* BARCLAYS: Three former Barclays traders jailed for manipulating Libor benchmark interest rates after a London trial have been denied a request to appeal against their conviction and sentence, the wife of one said on Friday.

* BARCLAYS: Barclays will combine its banking and investment services to be able to better compete against rivals, the Financial Times reported on Sunday.

* LADBROKES: Ladbrokes Coral Group is looking to buy Australian bookie Tabcorp Holdings in a deal worth more than 2 billion pounds, the Telegraph reported on Sunday.

* ANTOFAGASTA: Antofagasta Minerals has sold its Michilla copper mine in Chile for $ 52 million to the local Haldeman Mining Company, it said in a press release on Friday.

* SANTANDER: Spanish bank Banco Santander SA will discontinue plans to split its UK operations in two to comply with regulation as it would make it easier to shift operations out of Britain because of Brexit, the Financial Times reported on Sunday.

* BREXIT: Bank of England Governor Mark Carney wants British businesses to retain access to the European Union’s single market for two years after the country leaves the bloc, the Sunday Times reported, without citing sources.

* BREXIT: The European Parliament’s top Brexit negotiator backed the idea of individual European Union memberships for Britons who want to stay in the bloc in an interview published on Saturday.

* UK SERVICES: Firms in Britain’s large services sector reported a sharp fall in profits over the past three months due to higher costs and weak sales, the Confederation of British Industry said on Monday.

* ZINC: London Metal Exchange zinc surged to its highest in nine years on Monday and lead hit a five-year peak as a searing rally in metals gained steam on a softer dollar and inflation expectations.

* OIL: Oil prices regained some ground after steep losses made since Friday in choppy trading ahead of a planned producer meeting on Wednesday aimed at reining in global oversupply.

Eric Whitman

Eric Whitman

Eric Whitman is our Senior Correspondent who has been reporting on Stock Market for last 5+ years. He handles news for UK and Europe. He is based in London


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