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UK Stocks-Factors to watch on June 26

Published 26/06/2017, 04:02 pm
© Reuters.  UK Stocks-Factors to watch on June 26

June 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 15 points at 7,439 on Monday, according to financial bookmakers.

* RBS: British lender Royal Bank of Scotland RBS.L is planning to cut 443 jobs dealing with business loans and many of them will move to India, the bank said. SKY/VODAFONE: New Zealand pay television provider Sky Network TV SKT.NZ on Monday said it was terminating a sales agreement to buy Vodafone 's VOD.L local unit, a deal the country's competition regulator had ruled against. GLENCORE/RIO: Miner and trader Glencore GLEN.L on Friday hit back with an increased offer of $2.675 billion in cash to buy Australian coal assets from Rio Tinto RIO.AX , RIO.L that earlier this week said it was favouring a Chinese bid. TESCO: Tesco TSCO.L , Britain's biggest private sector employer, is to raise pay for hourly paid store staff by an inflation-beating 10.5 percent over the next two years, it said on Friday. CAPITA: Outsourcer Capita CPI.L said on Friday it would sell its asset management services arm to Australian financial services firm Link Administration Holdings LNK.AX for 888 million pounds ($1.13 billion). CO-OPERATIVE BANK: Britain's Co-operative Bank is close to a 700 million pounds rescue deal with US hedge funds, while in talks about the separation of the vast pension scheme it shares with the Co-op Group, Sky News reported. UK CYBER ATTACK: Britain's parliament was hit by a "sustained and determined" cyber attack on Saturday designed to identify weak email passwords, just over a month after a ransomware worm crippled parts of the country's health service. REINSURERS: Global reinsurers have written to the European Commission to ask it to ensure mutual access between British and European Union reinsurance markets after Britain leaves the bloc due to worries about market disruption, according to extracts from the letter seen by Reuters. INSURANCE: The insurance industry warned the British government of the dangers of flammable external surfaces on buildings a month before the Grenfell Tower fire that killed at least 79 people. LONDON FIRE: British investigators said on Friday they would consider manslaughter charges over the London tower block fire that killed at least 79 people, as thousands of apartment-dwellers a few miles away were told to leave their homes due to fire risk. LONDON TOWER BLOCKS: Britain said 34 high-rise apartment blocks had failed fire safety checks carried out after the deadly Grenfell Tower blaze, including several in north London where residents were forced to evacuate amid chaotic scenes. INVESTMENT BANKS: Some global investment banks risk losing up to $240 million in business by 2020 as a regulatory overhaul, which will change the way securities research is priced and used, makes independent firms more attractive for clients, a financial consultancy said. GOLD: Gold prices edged lower on Monday as investors remained cautious ahead of a flurry of U.S. data due this week, with firmer Asian stocks also weighing on the market. COPPER: London copper eased on Monday but remained within reach of the highest in more than two months, after expectations of the U.S. interest rate hike trajectory were tempered which weighed on the dollar. OIL: Oil prices rose more than 1 percent early on Monday on a weaker dollar, but another rise in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC-led effort to curb output. The UK blue chip index was down 0.2 percent at 7,424.13 at its close on Friday, as one year on from Britain's shock vote to leave the European Union, cracks are started to appear in the index's rally, as concerns on both political and economic fronts saw UK shares fall for a third week in a row. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

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