UK Stocks — Factors to watch on Sept 10

LONDON, Sept 10 (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) is seen opening 34 to
37 points down on Friday, retreating from the previous session’s four-month
closing high, on renewed concerns about the health of the European banking
sector before the release of new financial sector regulations.

The blue-chip index is seen opening down as much as 0.7 percent, according
to financial bookmakers, after bullish U.S. jobs data helped the benchmark index
close at 5494.16 on Thursday.

On Thursday, sources said Deutsche Bank (DBKGn.DE: ) was considering a capital
increase of up to 9 billion euros ($11.43 billion) to bolster its balance sheet
and help it raise its stake in Deutsche Postbank (DPBGn.DE: ).

While Asian stocks also rode the U.S. data boost higher overnight and
further benefited from stronger Chinese import data, concerns remain over the
European banking system ahead of the finalisation of fresh capital requirements.

Investors are bracing for details of the new standards, dubbed “Basel III”,
as they will determine rules on liquidity and the amount of capital banks need
to hold to defend themselves against future crises. The details are expected by
Sunday or Monday.

In other overnight news, British finance minister George Osborne plans an
additional 4 billion pounds ($6.19 billion) of welfare cuts on top of an 11
billion pound reduction to the annual bill already planned, the BBC reported on

Later on Friday, investors will eye the release of UK producer prices data
for August, due at 0830 GMT, while, across Europe, French and Italian July
industrial output and final Italian GDP data is also due.

In the United States, July wholesale inventories data is due for release at
1400 GMT.

* GLOBAL MARKETS-Asia stocks hit 4-month high, yen slides [ID:nTOE68902E]

* METALS-Copper lower as investors await China econ data [ID:nSGE68900Y]

* Dollar rises as yields support, off 15-yr low vs yen [ID:nTOE68902J]

* US STOCKS-Wall St buoyed by upbeat economic data [ID:nN09218304]

* Nikkei gains 2 pct helped by futures buying, yen [ID:nTOE68902Y]

* U.S. crude jumps on Canada-US pipeline shutdown [ID:nSGE689037]

* Gold dips, heads for 1st weekly dip in over a month [ID:nSGE68901U]

UK stocks to watch on Friday include:

3i GROUP (III.L: )

The buyout group has appointed bankers to sell Hyva, a hydraulic pump maker
valued at around 500 million euros, the Financial Times said.


The design and engineering firm said late on Thursday it was trading in line
with its expectations although its highways and transport division was being hit
by government spending cuts.


The consrtuction group has bought the bulk of Connaught’s social housing
operations, helping secure 2,500 jobs across Britain, the Financial Times said
on its website on Thursday.


The pubs company releases full-year results.


Recruiter releases a trading update.

(Reporting by Simon Jessop and Simon Falush)

UK Stocks — Factors to watch on Sept 10