UK Stocks — Factors to watch on July 9

LONDON, July 9 (BestGrowthStock) – Britain’s top share index is seen opening up
20-21 points, or 0.4 percent on Friday, according to financial bookmakers,
extending the week’s strong gains in tandem with overnight jumps on Wall Street
and in Asia as optimism over the global economy recovery returns.

The UK blue chip index closed 90.63 points higher, or up 1.8 percent on
Thursday at 5,105.45, rising for a third consecutive day, with banks leading the
way on reports a new bid vehicle is seeking to buy banking assets, and with
European sector stress tests looking less onerous than feared.

After dipping on Monday, the UK blue chip index has powered ahead in the
other three sessions this week, putting on nearly 270 points, or 5.5 percent
since last Friday’s close.

Wall Street rose for a third straight day on Thursday as investors were
encouraged to see the latest weekly U.S. jobless claims fall and a handful of
large retailers report solid sales.

U.S. stocks (Read more about the stock market today. ) have regained their footing after a slew of poor data had raised
fears of a double-dip recession. But low market volume suggested investors are
still sceptical, and few expect to see a sustained rally.

Asian stocks rallied for a second day on Friday, and the euro held near
two-month highs on Friday, supported by the positive U.S. data and after the
European Central Bank’s offered an upbeat view of the euro zone’s recovery.

ECB President Jean-Claude Trichet said on Thursday he expects the euro area
economy to grow “at a moderate and still uneven pace in an environment of high
uncertainty”.

Investors will have British wholesale inflation numbers to digest on Friday,
with June PPI output seen unchanged on the month, after a 0.6 percent decline in
May, and PPI output up 0.1 percent after a 0.3 percent gain in May.

May British trade numbers will also be released at 0830 GMT, with a 7.00
billion pounds deficit seen in global trade, and a 3.80 billion pounds gap in
non-EU trade forecast.

Across the Atlantic, May U.S. wholesale inventories will be the only data of
interest on Friday.

* GLOBAL MARKETS-Asian stocks lifted by data;euro gains [ID:nTOE668037]

* US STOCKS-Wall St up for 3rd day on data, retail sales [ID:nN08240604]

* Nikkei poised for best week in 4 mths; Inpex sinks [ID:nTOE66802F]

* FOREX-Euro holds near 2-mth highs, high-yielders firm [ID:nTOE66708A]

* TREASURIES-Firm in Asia on bargain-hunting [ID:nTOE66802T]

* Oil set for 5 pct weekly gain on U.S. demand, inventories [ID:nSGE668035]

* PRECIOUS-Gold regains strength but struggles below $1,200 [ID:nSGE668046]

* METALS-LME copper edges up with euro, China data eyed [ID:nSGE66800W]

UK stocks to watch on Friday are:

BP (BP.L: )

Suspected targets in the criminal investigation into the Gulf Coast oil
spill may cover more than BP, U.S. Attorney General Eric Holder said on
Thursday. [ID:nN08200956]

Also, there is increasing optimism within BP that chief executive Tony
Hayward will be able to retain his position, despite fall-out in the United
States over the Gulf oil spill, The Guardian said.

ROYAL DUTCH SHELL (RDSa.L: )

Shares in Australia’s Santos (STO.AX: ) jumped over 7 percent after it said it
was in talks to sell equity in its Gladstone LNG project and collaborate with
others, raising expectations it may soon sign a multi-billion dollar deal with
Royal Dutch Shell. [ID:nSGE66800H]

RIO TINTO (RIO.L: )

The global miner Rio Tinto is doing well despite volatile global markets,
and is waiting for the final details of a revised mining tax in Australia before
going ahead with new mines there, chief Executive Tom Albanese said in a speech
on Thursday. [ID:nN08239813]

BRITISH AIRWAYS (BAY.L: )

International Airlines (IACG), the umbrella company to be formed upon the
completion of the merger between British Airways and Iberia (IBLA.MC: ), will be
structured to make further acquisitions, according to BA’s chief executiveWillie
Walsh, The Times said.

BOVIS HOMES GROUP (BVS.L: )

The housebuilder issues a trading update.

MICHAEL PAGE INTERNATIONAL (MPI.L: )

The staffing firm issues a second-quarter trading update.

INTERSERVE (IRV.L: )

The maintenance services group issues a trading update.

SIG (SIG.L: )

The building products firm issues a trading update.

CHARLEMAGNE CAPITAL (CHAR.L: )

The emerging markets fund firm reports first-half results.

(Reporting by Jon Hopkins; Editing by Mike Nesbit)

UK Stocks — Factors to watch on July 9