FTSE seen opening down amid renewed jitters over debt

LONDON (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) index was seen opening down 13-19 points, or as much as 0.4 percent lower, on Thursday, according to financial bookmakers, after a late reversal on Wall Street on renewed jitters over the euro zone debt crisis.

The British blue-chip index closed 97.40 points, or 2.0 percent, higher on Wednesday at 5,038.08, recapturing the 5,000 level surrendered after a 2.5 percent slide on Tuesday to its lowest closing level since September.

Wall Street staged yet another late-day reversal on Wednesday to end lower as news suggesting China was reassessing its euro zone debt holdings pushed investors into profit taking, with the Dow (.DJI: ) closing below 10,000 for the first time since February 8.

The Wall Street jitters came after the Financial Times reported China was reviewing its euro zone bond holdings because it was increasingly worried about gaping deficits in euro member countries.

Asian stocks were more sanguine on Thursday, rallying after initial falls as investors sought beaten down stocks.

On the economic front, the only domestic data due for release on Thursday was the May CBI distributive trades report, due at 1000 GMT.

Investors will have a bigger batch of U.S. pointers to digest in the afternoon, with the second reading for Q1 GDP and the latest weekly jobless claims due at 12.30 GMT.

British stocks to watch on Thursday are:

BP (BP.L: )

BP’s chief executive said a difficult deep-sea operation to plug a gushing oil well was proceeding as planned on Wednesday and the next 24 hours will determine the energy giant’s success in stanching the leak deep on the Gulf of Mexico floor.

Also, BP installed a type of cement casing on its now-ruptured undersea well that it knew ran the risk of leaking gases in order to save money, The New York Times reported on Wednesday, citing a BP document it received from a congressional investigator.

PRUDENTIAL (PRU.L: )

Shareholders holding up to 15 percent of the British insurer’s shares plan to write to the chairman saying they oppose the company’s $35.5 billion takeover of AIG’s Asian arm, the Times said.

BSKYB (BSY.L: )

Britain’s dominant pay-TV company is close to finalizing a deal to buy Virgin Media’s (VMED.L: ) TV channels, the Guardian said.

SABMILLER (SAB.L: )

The brewer is considering a bid for Australian beer giant Foster’s after holding early stage with its banking advisers, the Daily Telegraph said, without citing sources.

ASTRAZENECA (AZN.L: )

AstraZeneca’s (AZN.L: ) cancer pill Iressa has been recommended for use in Britain’s state-run National Health Service (NHS) after the drugmaker agreed an unusual fixed cost deal.

GLAXOSMITHKLINE (GSK.L: )

Weight-loss drugs from GlaxoSmithKline and Roche Holding (ROG.VX: ) will carry new warnings about rare reports of liver injury, U.S. health officials said on Wednesday.

SHIRE (SHP.L: )

The drugmaker is on the look-out for acquisitions that will expand its genetic disease business, which is growing faster than the company as a whole, its chief executive Angus Russell said in an interview after the official opening of the company’s new manufacturing plant in Lexington, Massachusetts.

RIO TINTO (RIO.L: )

The mining company, witnessed a revolt by shareholders after almost 40 percent of the votes cast at its annual meeting refused to endorse its remuneration report, which raised bonus limits for executives from 120 percent to 200 percent of basic salary, The Times said.

XSTRATA (XTA.L: )

The miner is negotiating with unionized workers at its Montreal metal refinery, aiming to avoid a strike similar to the one that paralyzed production there three years ago.

BHP BILITON (BLT.L: )

The global miner has notified Japanese steelmakers that it will raise the price for high-quality coal to about $225 per ton for the July-September quarter, the Nikkei business daily reported on Thursday.

ANTOFAGASTA (ANTO.L: )

The Chilean-focused copper miner posts first-quarter results.

MAN GROUP (EMG.L: )

The hedge fund manager reports full-year results.

TATE & LYLE (TATE.L: )

The sugar group posts fourth-quarter results.

DAILY MAIL & GENERAL (DMGOa.L: )

The newspaper publisher unveils first-half results.

JJB SPORTS (JJB.L: )

The sporting goods retailer reports full-year results.

PAYPOINT (PAYP.L: )

The cash solutions group posts full-year results.

SCAPA GROUP (SCPA.L: )

The adhesive films and tapes maker delivers full-year results.

MEDIA SQUARE (MSQE.L: )

The marketing communications firm posts full-year results.

ALLIANCE PHARMA (ALAPH.L: )

The specialty drugmaker holds its annual general meeting.

FERREXPO (PXPO.L: )

The metals group holds its annual general meeting.

PV CRYSTALOX SOLAR (PVCS.L: )

The solar cells maker holds its annual general meeting.

GULF KEYSTONE (GKP.L: )

The Iranian-focused oil explorer holds its annual general meeting.

JKX OIL & GAS (JKX.L: )

The oil explorer holds its annual general meeting.

PLETHORA SOLUTIONS (PLE.L: )

The urology specialist holds its annual general meeting.

SCISYS (SSY.L: )

The media support services group holds its annual general meeting.

Investing

(Reporting by Jon Hopkins; Editing by Dan Lalor)

FTSE seen opening down amid renewed jitters over debt