UK Stocks — Factors to watch on Dec 1

LONDON, Dec 1 (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) is seen gaining 10 to
18 points at open on Wednesday, with firmer than expected Chinese manufacturing
data likely to support sentiment for heayweight commodity issues, though ongoing
euro zone debt worries were set to keep investors cautious.

The blue chip index is seen gaining as much as 0.3 percent after it fell 0.4
percent the previous session to close at 5,528.27.

Data from China that showed it had revved up production in November more
than expected, with the official purchasing managers’ index (PMI) rising to a
seven-month high.

However gains from Asian stocks were limited with euro zone debt worries
keeping risk appetite in check after Standard & Poor’s put Portugal’s credit
rating on review for a possible downgrade, saying the country may have to turn
to the EU and IMF for funding.

Investors will watch house price data at 0700 GMT for more clues on the
state of the British economy.

The Nationwide index is likely to show house prices fell for the fourth
month in five in November, pushing prices back towards their level a year ago.

Manufacturing PMI data will also be watched and is expected to come in at
54.6 from 54.9 previously.

The manufacturing sector is expected to have grown in November, although at
a slower pace than in the first part of the year.

The weak pound, stronger demand for exports and stock rebuilding has boosted
the sector this year. However, global demand may wane and government spending
cuts could weaken demand at home in the coming months.

Johnson Matthey (JMAT.L: ), Land Securities (LAND.L: ), National Grid (NG.L: ),
SABMiller (SAB.L: ) and Severn Trent (SVT.L: ) were all set to trade ex-dividend,
knocking 2.83 points off the index.

* Oil steady near $84, US inventories, Europe in focus [ID:nL3E6N104V]

* US STOCKS-Wall St slips late on Portugal fears [ID:nN302846]

* TREASURIES-Edge lower in Asia ahead of key data [ID:nTOE6B000]

* Euro pauses but debt worries keep it vulnerable [ID:nTOE6B003M]

* Tokyo’s Nikkei share average closes up 0.51 pct [ID:nECB001148]

* GLOBAL MARKETS-Euro, stocks wobble as euro [ID:nL3E6N103A]

* Gold rises to near 3-wk high, bullion euro record [ID:nL3E6N102D]

* ShFE copper higher; Portugal credit risk my weigh [ID:nL3E6N1038]

UK stocks to watch on Wednesday are:


The oil firm has applied for a C$1.35 billion ($1.31 billion) carbon capture
project to cut emissions from the company’s Alberta oil sands processing
operation with the aid of government funding, it said on Tuesday. [ID:nN30293698]

BP (BP.L: )

Wary of safety issues after the Gulf of Mexico oil spill, BP’s Alaska unit
has suspended construction of a massive drill rig at its offshore Liberty
prospect, a spokesman said on Tuesday. [ID:nN30144414]

Separately, BP is planning to cut jobs in its global energy trading
business, a company spokesman confirmed on Tuesday.


Britain’s largest insurer aims to double the value of its new business
profits in Asia by 2013, taking advantage of the region’s low penetration rates,
the company said on Wednesday. [ID:nTOE6B002K]


The bank has made two senior hires from Santander UK (SAN.MC: ), weeks after
poaching its new chief executive from the fast-growing British division of the
Spanish bank. [ID:nLDE6AT25V]


The holiday company releases its full-year results.


The company releases its full-year results.


The company releases first half results.


The stockbroker releases its full-year results.


The broker releases its full-year results.


> Financial Times [PRESS/FT]

> Other business headlines [PRESS/GB]
(Reporting by Simon Falush; Editing by Hans Peters)

UK Stocks — Factors to watch on Dec 1