UK Stocks-Factors to watch on Sept. 11

Reuters
2024.09.11 04:47
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On September 11, the UK's FTSE 100 index is expected to open lower, with futures down 0.19%. Rightmove rejected a £5.6 billion takeover offer from REA Group. BP is evacuating facilities in Louisiana due to Tropical Storm Francine, while Shell plans to maintain full operations at its Norco refinery. Crude prices rose amid supply concerns, and gold prices steadied ahead of U.S. inflation data. Copper prices were supported by a weaker dollar, despite demand concerns in China. The FTSE 100 ended lower on Tuesday, influenced by healthcare and energy sell-offs.

Sept 11 (Reuters) - Britain’s FTSE 100 (.FTSE) index is seen opening lower on Wednesday, with futures down 0.19%.

  • RIGHTMOVE: Australian property listing firm REA Group (REA.AX) said on Wednesday that Britain’s largest real estate portal Rightmove (RMV.L) had rejected its 5.6 billion pounds ($7.33 billion) cash-and-stock takeover offer.

  • BP: Oil major BP (BP.L) on Tuesday said it is evacuating its onshore learning and maintenance facilities in Schriever, Louisiana, ahead of storm Francine.

  • SHELL: Shell (SHEL.L) plans to run the 233,702 barrel-per-day (bpd) Norco, Louisiana refinery at full rates through Tropical Storm Francine, two people familiar with plant operations said on Tuesday.

  • OIL: Crude prices bounced on Wednesday as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand.

  • GOLD: Gold prices steadied, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve’s potential interest rate cut next week.

  • METALS: Copper prices found support from a softer U.S. dollar and optimism surrounding a likely interest rate cut from the Federal Reserve this month, although subdued demand outlook in top consumer China partially weighed on the market.

  • London’s FTSE 100 ended lower on Tuesday, led by a sell-off in healthcare and energy shares, while cooling wage growth in the UK cemented bets for further interest rate cuts by the Bank of England.

  • UK CORPORATE DIARY:

WH Smith (SMWH.L) Trading update

Dunelm (DNLM.L) FY results

Energean (ENOG.L) FY results

  • 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) ($1 = 0.7638 pounds)

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