UK Stocks — Factors to watch on Wednesday June 2

LONDON, June 2 (BestGrowthStock) – Britain’s FTSE 100 (.FTSE: ) index
is seen opening down 70 to 80 points, or as much as 1.6 percent
on Wednesday, according to financial bookmakers, tracking hefty
falls overnight on Wall Street and in Asia.

The UK blue chip index closed down 25.13 points, or 0.5
percent on Tuesday at 5,163.30 after a choppy session, led lower
by a plunge in BP (BP.L: ) shares after the company’s failure to
stem an oil spill in the Gulf of Mexico.

U.S. stocks (Read more about the stock market today. ) fell on Tuesday led by energy shares as the U.S.
government announced a criminal probe into the oil spill
disaster. [ID:nN01211178]

Asian stocks were broadly lower on Wednesday, with Japan’s
Nikkei (.N225: ) also hit as the country’s prime minister, Yukio
Hatoyama said he would resign. [ID:nTOE65100Q]

On the macro front, April Bank of England consumer credit
and mortgage lending numbers should draw some attention at 0830
GMT.
But the main interest will be on the May U.S. Challenger
layoffs report, due at 1130 GMT, a precursor to Friday’s U.S.
nonfarm payrolls.

April U.S. pending home sales will be released at 1400 GMT.

Ex-dividend factors will knock 14.73 points off the FTSE 100
index on Wednesday, mainly due to heavyweight Vodafone (VOD.L: )
losing its payout attractions, with National Grid (NG.L: ), Market
& Spencer (MKS.L: ), AB Foods (ABF.L: ), and Intertek Group (ITRK.L: )
also trading ex-dividend.

* GLOBAL MARKETS-Euro steadies, yen dips on Japan PM exit

[ID:nSGE65100V]

* US STOCKS-Wall Street slides as energy shares hit

[ID:nN01130251]

* Nikkei slips as yen’s drop slows, China shares fall

[ID:nTOE65102Q]

* FOREX-Yen falls as Japan PM quits, euro above 4-yr low

[ID:nTOE65103T]

* TREASURIES-Fall in Asia as traders trim longs before data
[ID:nTOE650084]

* Oil falls to $72 on dollar, awaits US inventories

[ID:nSGE651039]

* PRECIOUS-Spot gold steady; TOCOM up on PM resignation

[ID:nSGE65104Z]

* METALS-Shanghai zinc weak, others fall in mass liquidation
[ID:nSGE65106P]

UK stocks to watch on Wednesday are:

BP (BP.L: )

The oil major will seek to patch up its battered share price
by reassuring investors the cost of cleaning up the oil spill in
the Gulf of Mexico is manageable and will not affect dividends,
British media reported on Wednesday. [ID:nLDE651006]

For a TAKE A LOOK on the Gulf of Mexico oil spill,
double-click on [ID:nSPILL]

PRUDENTIAL (PRU.L: )

The British insurer is withdrawing from a $35.5 billion deal
to buy American International Group Inc’s (AIG.N: ) Asian life
insurance business AIA, with Prudential’s Singapore-listed
shares (PRTL.SI: ) dropping in response. [ID:nTOE65100R]

BRITISH AIRWAYS (BAY.L: )

Talks between British Airways and officials from the Unite
trade union were adjourned on Tuesday with no agreement reached
to resolve a dispute with cabin crew staging the latest in a
series of strikes. [ID:nLDE6501IU]

Also, British Airways is expecting to increase the number of
flights that will go ahead during the upcoming cabin crew strike
because “growing numbers” of crew want to continue working
despite the industrial action, The Independent said.

AFREN (AFRE.L: )

Afren shares were supported on Tuesday by rumours BG Group
(BG.L: ) could launch a 140 pence a share cash offer for the West
African-focused oil explorer, the Daily Mail’s Market report
said.

NORTHUMBRIAN WATER (NWG.L: )

The water firm reports full-year results.

TOPPS TILES (TPT.L: )

The tile and wood flooring retailer posts first-half
results.

INTERMEDIATE CAPITAL (ICP.L: )

The private equity lender reports full-year results.

ACAL (ACL.L: )

The technology firm unveils full-year results.

ALTERNATIVE NETWORKS (ALTAN.L: )

The communications services provider delivers first-half
results.

HAMWORTHY (HAMW.L: )

The marine engineer reports full-year results.

IOMART GROUP (IOMG.L: )

The web hosting provider posts full-year results.

IS PHARMA (ISPHI.L: )

The speciality drugs firm unveils full-year results.

OPSEC SECURITY GROUP (OPSS.L: )

The anti-counterfeiting technology group delivers full-year
results.

PARITY GROUP (PTY.L: )

The IT services firm holds its annual general meeting.

ADVANCED MEDICAL SOLUTIONS (AMSU.L: )

The wound care group holds its annual general meeting.

Stock Market Investing

(Reporting by Jon Hopkins)

UK Stocks — Factors to watch on Wednesday June 2