UK stocks: Factors to watch on October 20
EWU•Britain’s FTSE 100 opened 0.23% lower on Tuesday. Company updates included Gulf Keystone’s planned $601 million all-share merger with ShaMaran, while oil prices advanced, gold eased and copper was steady.
1. Company updates
Gulf Keystone Petroleum said it will merge with Norway’s ShaMaran Petroleum in a $601 million all-share deal. Anglo American reported a 5% drop in third-quarter copper production due to severe weather in Chile, maintained its 2026 copper guidance and raised its full-year diamond production outlook. Ithaca Energy chair Yaniv Friedman said the company would likely halt further UK investment if the government does not approve its Rosebank oilfield.
2. Other market factors
Unilever agreed to sell Welly Health PBC to Forward Consumer Partners without disclosing financial terms. Barclays said its £15 billion private credit exposure was treated in line with accounting and regulatory capital requirements after reports that the Bank of England was examining whether traders had understated the risk. UK workers’ pay growth picked up modestly, while other signs pointed to a small jobs-market recovery. Finance minister John Healey reportedly rejected calls to raise capital gains tax in his October 28 budget, prioritising economic growth and business investment.
3. Markets and commodities
Oil prices advanced, gold eased and copper held steady.
