UK Stocks — Factors to watch on Friday July 16

LONDON, July 16 (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) index
is seen opening up 9 to 18 points, or as much as 0.4 percent
higher on Friday, according to financial bookmakers, rallying
after falls in the previous two sessions after Wall Street
recovered late on Thursday, with BP (BP.L: ) up strongly in New
York.

The UK blue chip index closed 42.23 points, or 0.8 percent
lower on Thursday at 5,211.29 after weak U.S. PPI data
intensified concerns about the global economic recovery.

But U.S. stocks (Read more about the stock market today. ) (.DJI: ) (.SPX: ) managed to recoup earlier
falls late on Thursday to end flat, helped by a turnaround in
fortunes for BP (BP.N: ) and Goldman Sachs (GS.N: ).

BP’s U.S.-listed shares jumped 7.6 percent after the company
said no oil is leaking from its blown-out well in the Gulf of
Mexico for the first time since the accident began in April.
For details, see [ID:nLDE66E0MK]

Goldman Sachs’ (GS.N: ) gains coincided with the Securities
and Exchange Commission saying that it would make a “significant
announcement” later in the afternoon. The announcement prompted
speculation the SEC was going to settle fraud charges with
Goldman Sachs, which proved to be the case.

Asian stocks, however, were weak on Friday unnerved by the
global economic picture, and with the after-hours earnings news
from the U.S. mixed.

Google (GOOG.O: ) reported profit that missed expectations,
driving its shares down 4.7 percent in extended-hours trading.
[ID:nN15232993]

But on the bright side for technology, Advanced Micro
Devices (AMD.N: ) reported results that topped expectations as
corporate spending on tech hardware strengthened. Its shares
climbed 4.6 percent. [ID:nN15264825]

Investors will have a big batch of key U.S. earnings to
digest before the U.S. session starts on Friday, with Bank of
America (BAC.N: ), Citigroup (C.N: ), and General Electric (GE.N: )
the main features.

And with no British economic data due for release on Friday,
investor attention will be on the latest U.S. inflation numbers,
due at 1330 GMT.

June CPI is seen unchanged month-on-month after a 0.2
percent fall in May, taking the annualised increase to 1.2
percent, down from 2.0 percent in the previous month.

Investors will also have the first reading of the
Reuters/University of Michigan consumer sentiment index for July
to digest at 1355 GMT.

* GLOBAL MARKETS-Dollar weak on U.S. data, Asian stocks dip
[ID:nTOE66F029]

* US STOCKS-Wall St recoups losses on BP, Goldman

[ID:nN15244964]

* Nikkei down over 2 pct, investors skittish over yen

[ID:nTOE66F02U]

* FOREX-Dollar under water, euro hovers near 2-mth high

[ID:nTOE66F02I]

* TREASURIES-Firm in Asia after weak U.S. price data

[ID:nTOE66F026]

* Oil slips towards $76, eyes equities, hurricanes

[ID:nSGE66F05O]

* PRECIOUS-Gold steady above $1,200/oz, ETF eases slightly
[ID:nTOE66F02B]

* METALS-Shanghai copper edges up; trapped in tight range
[ID:nTOE66F01G]

UK stocks to watch on Friday are:

BP (BP.L: )

BP is likely to return to oil-capture vessels to contain its
Gulf of Mexico leak once a critical pressure test is done, the
top official overseeing the spill response said on Thursday.
[ID:nWEN7093]

Also, BP has sped up the sale of up to $20 billion worth of
assets to boost funds and ease worries about its financial
health since the Gulf of Mexico oil spill in April, The
Financial Times said.

LLOYDS BANKING GROUP (LLOY.L: )

An action group of Lloyds Banking Group shareholders named
Lloyds Action Now is lobbying for the group’s former chairman
Sir Victor Blank to be extradited to the US to face trial on
charges of misleading investors, The Times said.

SAGE GROUP (SGE.L: )

The accountancy software firm Sage is set to appoint Guy
Berruyer as chief executive with contracts expected to be signed
within days, the Financial Times reported on Friday. Berruyer is
understood to be the frontrunner to replace Paul Walker who is
stepping down after 16 years, the FT said. [ID:nN15255083]

WPP GROUP (WPP.L: )

The marketing services company is hoping to generate one
billion dollars of revenue from China, Taiwan and Hong Kong,
chief executive Sir Martin Sorrell told a conference in Shanghai
on Thursday, The Daily Telegraph said.

BRITISH LAND (BLND.L: )

The real estate investment trust holds its annual general
meeting.

BLUEBAY ASSET MANAGEMENT (BBAY.L: )

The asset manager issues a trading update.

SPECTRIS (SXS.L: )

The engineer issues a trading update.

CLAPHAM HOUSE GROUP (CPH.L: )

The restaurants group posts full-year results.

KCOM (KCOM.L: )

The telecoms provider holds its annual general meeting.

(Reporting by Jon Hopkins; Editing by Hans Peters)

UK Stocks — Factors to watch on Friday July 16