UK Stocks — Factors to watch on Sept 8

LONDON, Sept 8 (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) is seen opening 30-35
points lower on Wednesday, tracking overnight falls in Asia and the United
States on concerns about the health of the global economy, and particularly with
the European banking system.

The blue-chip index is seen falling as much as 0.6 percent according to
financial bookmakers after breaking a seven-session winning streak to close down
0.6 percent on Tuesday at 5,407.82.

In overnight macroeconomic news, UK job growth weakened markedly in August,
a survey by the Recruitment and Employment Confederation said, hitting a
10-month low and raising fears of a sharper slowdown when public spending cuts
kick in. [ID:nSLA7KE6C3]

Elsewhere, food prices in UK shops jumped in August, pushing shop price
inflation to 1.7 percent from 1.5 percent in July, as the effect of price rises
in commodities such as wheat and sugar filtered down to the High Street, said
the British Retail Consortium. [ID:nSLA7KE6C3]

Investors will await the release of UK industrial output data at 0830 GMT,
with a month-on-month rise of 0.3 percent and a year-on-year rise of 1.9 percent
forecast in a Reuters poll.

Also at 0830 GMT, fresh UK manufacturing data is forecast to show a rise of
0.3 percent on the month and 4.9 percent on the year, according to a Reuters
poll.

The Bank of England’s Monetary Policy Committee is also set to meet on
Wednesday.

Across Europe, German and French July trade data is set to be released,
while in the United States, weekly mortgage and retail sales data, and monthly
consumer credit figures are also due.

After the London close, all eyes will be on the 1800 GMT Federal Reserve
release of its latest Beige Book survey of U.S. economic conditions.

A number of leading companies, including miner BHP Billiton (BLT.L: ) and
pharmaceuticals firm Shire (SHP.L: ) are due to go ex-dividend on Wednesday,
potentially taking 5.31 points off the index, according to Reuters calculations.

The other companies going ex-dividend are: G4S (GFS.L: ), Diageo (DGE.L: ),
Segro (SGRO.L: ) and Rexam (REX.L: ).

* US STOCKS-Market falls amid European bank worries [ID:nN07253043]

* GLOBAL MARKETS-Asian shares slip; rising yen hits Nikkei [ID:nSGE68702W]

* Dollar hits 15-yr low vs yen, euro struggles [ID:nTOE687030]

* Nikkei falls 2 pct as bullish yen saps confidence [ID:nTOE687011]

* PRECIOUS-Gold rises on bank scare; holds near record [ID:nSGE68701P]

* LME copper eases, appetite returns ahead of trade data [ID:nSGE68704R]

* Oil falls for 3rd session as investors offload risk [ID:nSGE68702M]

* TREASURIES-Europe worries, strong US auction boost bonds [ID:nN07245669]

UK stocks to watch on Wednesday include:

VODAFONE (VOD.L: )

The world’s largest telecoms operator by revenue sold its 3.2 percent stake
in China Mobile (0941.HK: ) late on Tuesday for 4.3 billion pounds ($6.6 billion).
[ID:nTOE686080]

RIO TINTO (RIO.L: )

Representatives of Rio Tinto (RIO.L: ) have come to Russia to visit potash
producer Uralki (URKA.MM: ) which is seen as a potential acquisition target for
the mining giant, Vedomosti reported on Wednesday. [ID:nLDE68704P]

BP (BP.L: )

Oil major to release its internal probe into the Gulf of Mexico oil spill,
and is set to spread the blame to other companies involved in the well’s
operations, The Wall Street Journal said on Tuesday.

Separately, the oil giant has admitted the consequences of a deepwater
blowout in the North Sea “have never been considered in detail” in its own
emergency spill plan filed to the government, the Daily Telegraph reported.

RYANAIR (RYA.L: )

Europe’s biggest low-cost airline could buy up to 300 aircraft, Chief
Executive Michael O’Leary told the Financial Times. [ID:nN07247237]

BARRATT DEVELOPMENTS (BDEV.L: )

The mid-cap housebuilder releases half-year results.

BERKELEY GROUP (BKGH.L: )

Upmarket apartment developer holds its AGM.

DSG INTERNATIONAL (DSGI.L: )

Europe’s second-biggest electricals retailer holds its AGM.

THORNTONS (THT.L: )

Chocolate-maker releases its preliminary full-year results.

(Reporting by Simon Jessop and Simon Falush)

UK Stocks — Factors to watch on Sept 8