UK stocks: factors to watch on October 20
EWU•Britain’s FTSE 100 was seen opening 0.5% lower on Tuesday. Ithaca Energy warned it would likely halt further UK investment without approval for Rosebank, while Unilever agreed to sell Welly Health and Barclays defended its private-credit risk treatment.
1. Stocks and companies
FTSE 100 futures were down 0.5%, with the index seen opening lower. Ithaca Energy chair Yaniv Friedman said the company would likely halt further investment in Britain if the government did not approve its Rosebank oilfield. Unilever agreed to sell Welly Health PBC to Forward Consumer Partners without disclosing financial terms. Barclays said its £15 billion ($19.97 billion) private-credit exposure complied with accounting and regulatory capital requirements after reports that the Bank of England was examining whether traders understated the risk.
2. Other market factors
Finance minister John Healey reportedly rejected calls to raise capital gains tax in his first budget on October 28, prioritising growth and business investment. Oil prices were mixed after attacks in Yemen and on Saudi facilities; gold slipped as investors awaited next week’s Federal Reserve decision, while copper was steady.
3. Corporate diary
Anglo American, Bunzl, Wickes and Sabre Insurance were scheduled to issue quarterly production or trading updates.
