UK Stocks-Factors to watch on Nov 22

November 22
11:06 2017

Nov 22 (Reuters) – Britain’s FTSE 100 index is seen opening up 2

points at 7,413.4 on Wednesday, according to financial bookmakers.

* STANDARD CHARTERED: Standard Chartered is aiming to boost revenue

growth at its investment bank by a compound annual rate of 5 to 7 percent in the

medium term, the head of that business said on Tuesday, while trying to keep

risk down and avoid past mistakes.

* LSE: The Bank of England and Britain’s markets watchdog should step in to

appoint a new chairman at the London Stock Exchange, Christopher Hohn,

founder of activist hedge fund TCI said on Tuesday.

* ANGLO AMERICAN: Anglo American’s diamond unit De Beers has ordered

a new $ 142 million diamond mining ship as part of its strategy to grow its

offshore operations, the firm said on Tuesday.

* HSBC: A Hong Kong tribunal on Tuesday imposed a record fine of HK$ 400

million ($ 51 million) on the private banking unit of HSBC in a case

related to the sale of Lehman Brothers-linked structured financial products

between 2003 and 2008.

* BRITAIN-BUDGET: British finance minister Philip Hammond will announce on

Wednesday how much he can afford to help unhappy voters as he faces a

potentially sharp deterioration in the economy’s growth prospects.

* BRITAIN-RETAILERS: After suffering their biggest decline in sales volumes

for four-and-a-half years in October, British retailers are pinning their hopes

on Black Friday discounts to get shoppers spending again.

* GOLD: Gold prices remained in a narrow range on Wednesday as investors

remained cautious ahead of the release of minutes from the U.S. Federal

Reserve’s last meeting, which could offer hints on the outlook for the central

bank’s monetary policy.

* OIL: Oil prices climbed on Wednesday after a reported fall in U.S. crude

inventories and on expectations that an OPEC-led production cut aimed at

tightening the market will be extended beyond next March.

* The UK blue chip FTSE 100 index rose 0.3 percent and closed at

7,411.4 points on Tuesday, as a flurry of company updates and strong consumer

stocks helped the index climb, with easyJet rising.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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(Reporting by Siju Varghese)

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