UK Stocks-Factors to watch on Oct 15
Oct 15 -Britain's FTSE 100 .FTSE index is seen opening higher on Tuesday, with futures FFIc1 up 0.48%.
* HSBC: HSBC Holdings Plc HSBA.L is reviewing expenses and operational controls at its China digital wealth business Pinnacle, in a move that could result in layoffs and mark an abrupt reversal of the lender's ambition for the unit, several sources said.
* REGULATORY OVERHAUL: British Prime Minister Keir Starmer promised on Monday to scrap regulation that holds back economic growth as he secured commitments for more than 60 billion pounds ($78 billion) of investment from some of the world's biggest businesses.
* EV TARIFFS: Britain does not plan to follow the European Union in imposing tariffs on imports of electric vehicles from China as UK businesses have not raised a complaint to be investigated, British trade minister Jonathan Reynolds said on Monday.
* METALS: Copper prices slipped on Tuesday, pressured by a firmer U.S. dollar and uncertainty about top consumer China's economic recovery following lacklustre economic data and a lack of detail on stimulus plans.
* GOLD: Gold was flat on Tuesday as investors await fresh insights on the Federal Reserve's stance on U.S. interest rate reductions for further direction on bullion prices.
* OIL: Oil prices slid 3% in early Asian trade on Tuesday after a media report said Israel is willing not to strike Iranian oil targets, which eased fears of a supply disruption, and after OPEC lowered its outlook for global oil demand growth in 2024 and 2025.
* The UK's main stock indexes kicked off the week on a high note, powered by gains in utilities and pharma stocks, while gambling firms fell on reports the government was considering a tax raid.
* UK CORPORATE DIARY:
Robert Walters | RWA.L | Q3 trading update |
Bellway | BWY.L | Prelim results |
Mitie | MTO.L | HY trading update |
* For more on the factors affecting European stocks, please click on: LIVE/
TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB
Reporting by Yamini Kalia in Bengaluru
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