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UPDATE 1-UK Stocks-Factors to watch on Dec. 11

Published 11/12/2020, 06:45
Updated 11/12/2020, 08:20
© Reuters.

© Reuters.

Dec 11 (Reuters) - Britain's FTSE 100 (.FTSE) index is seen opening 16 points lower at 6,584 on Friday, according to financial bookmakers, with futures (.FFIc1) down 0.1% ahead of the cash market open.

Liberty Global-Telefonica: Britain said it had referred the merger between broadband company Virgin Media and Telefonica 's (TEF.MC) UK mobile network O2 to an in-depth competition investigation.

Rolls-Royce: Rolls-Royce (RR.L) stuck to its guidance to turn cash flow positive during the second-half of next year, despite warning that the outlook remains challenging and the pace of the recovery is uncertain.

IHG: Intercontinental Hotels Group (IHG.L) has struck a deal with its creditors to extend waivers of its debt covenants through the end of 2022, the company said in a statement.

Bellway: Bellway Housebuilder Bellway (BWY.L) forecast a 25% rise in annual volumes, saying home orders rose in the first few months of its fiscal year.

Brexit: British Prime Minister Boris Johnson wants to get a Brexit trade deal and there is a still a chance of getting one but he will not back down on the two main outstanding issues, Culture Secretary Oliver Dowden said.

Sanofi/GSK: An experimental COVID-19 vaccine of Sanofi (SASY.PA) and Britain's GlaxoSmithKline (GSK.L) showed an insufficient immune response in clinical trial results, the French drugmaker said, a blow to efforts to find ways to fight the pandemic.

Banks: British banks can resume paying some dividends and bonuses after the Bank of England said they appeared well capitalised and resilient to any further coronavirus crisis fall-out.

Retail: With prospects for a post-Brexit trade deal with the EU looking precarious, Britain's retail industry repeated a warning that shoppers faced higher food prices from next year if new tariffs were imposed in the absence of an agreement.

Gold: Gold edged up as the dollar held near a two-and-a-half-year low, offsetting concerns over delays in a U.S. coronavirus package.

Oil: Oil rose, extending a sharp rally overnight that saw Brent rise above $50 for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.

The UK blue-chip index (.FTSE) closed 0.5% higher on Thursday as oil prices jumped to $50 per barrel for the first time since March on vaccine optimism and as a weaker British pound supported the export-heavy index GBP/.

UK corporate diary:

Bellway Plc (BWY.L) Trading statement
Rolls-Royce Holdings Plc (RR.L) Trading statement
Anglo American Plc (AAL.L) Investor update

Latest comments

Who knows what will happen with a no deal Brexit. When Trump imposed tariffs on Chinese goods everyone said it would raise prices for Americans. But I bet in reality Chinese firms reduced prices so that with tariffs added the retail price was the same. Which they had to do if they wanted to stay price competitive and continue to sell goods
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