UK stocks: Factors to watch on October 8
EWU•FTSE 100 futures were down 0.08% ahead of Thursday’s open. Anglo American’s proposed $54 billion merger with Teck Resources and several company and economic developments were in focus.
1. Company developments
Anglo American CEO Duncan Wanblad said its proposed $54 billion merger with Teck Resources and the sale of its Brazilian nickel business were test cases for navigating geopolitical complexities as they await antitrust approval. Aberdeen said it would sell 52 million Standard Life shares, halving its stake to about 5.2%. Savannah Resources said it was close to signing a second offtake deal for future output from its Barroso lithium project, with an agreement expected this quarter.
2. Markets and economy
Shell and Chevron said they were curtailing offshore operations in the Gulf of Mexico as Tropical Storm Isaias approached. In Britain, housing-market pressure increased for the first time in four months, while permanent staff placements rose at their fastest pace in four years. Oil, gold and copper prices gained, and the FTSE 100 fell on Wednesday.
3. Other developments
The BBC and Channel 4 held preliminary talks with the government about a broader tie-up of some operations. Tesco, Unite Group, Foresight Group, Volution Group and Imperial Brands were due to report results or provide trading updates.
