UK stocks: Factors to watch on September 25
BP•Britain’s FTSE 100 was seen opening 0.2% higher on Friday. BP is weighing a potential acquisition of Devon Energy’s South Texas operations, while UK consumer confidence reached a more than two-year high this month.
1. BP weighs potential deal
BP is weighing a potential acquisition of Devon Energy’s operations in South Texas as the British oil major renews efforts to expand its U.S. shale assets, people familiar with the matter said.
2. Other market factors
Brussels has told Prime Minister Andy Burnham that Britain would need to raise tariffs on Chinese cars and align more closely with EU trade policy to avoid “made in Europe” barriers affecting key exports, the Financial Times reportedly said. British consumer confidence unexpectedly reached a more than two-year high this month, as households became more optimistic about their personal finances.
3. Commodities and shares
Oil prices edged lower as markets weighed the possibility of a U.S.-Iran truce against Houthi rebel bombing in Saudi Arabia. Gold eased and was set for a weekly loss, while copper edged higher and was set to finish the week up. London shares fell on Thursday as Middle East fighting lifted oil prices and government bond yields and stoked inflation concerns.
