UK Stocks-Factors to watch on July 13
EWU•FTSE 100 seen opening lower
Britain's FTSE 100 .FTSE index is seen opening lower on Monday, with futures FFIc1 down 0.2%.
Commodities and geopolitics in focus
- Glencore: Democratic Republic of Congo's tax authorities sealed the offices of Glencore's GLEN.L Kamoto Copper over a dispute concerning alleged tax liabilities, Bloomberg News reported.
- Oil: Oil prices surged over 4% as energy shipments via the Strait of Hormuz remained under threat, with the U.S. and Iran announcing renewed military strikes.
- Metals: Copper prices fell, as fighting escalated between the U.S. and Iran, with Tehran saying it had closed the vital energy corridor of the Strait of Hormuz once again.
- Gold: Gold slid over 1% as fears of a closure of the Strait of Hormuz drove oil prices sharply higher, reviving expectations of elevated interest rates to combat inflationary pressures from escalating hostilities in the Middle East.
Previous FTSE close and UK corporate diary
London's FTSE 100 closed higher on Friday as communications stocks took the lead, with Vodafone jumping after French tycoon Xavier Niel became the company's biggest shareholder, though the index suffered a weekly fall.
UK corporate diary:
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