UK stocks: Factors to watch on September 25
EWU•FTSE 100 futures were up 0.4%, while Genel Energy raised its recommended cash offer for Capricorn Energy, topping a bid from DNO. BP was weighing a potential acquisition of Devon Energy operations in South Texas.
1. Energy deal activity
Genel Energy raised its recommended cash offer for Capricorn Energy, topping a bid from DNO in a months-long contest. Capricorn's board has switched allegiances twice. BP was weighing a potential acquisition of Devon Energy's South Texas operations as part of renewed efforts to grow its U.S. shale asset base, people familiar with the matter said.
2. UK market factors
Britain's FTSE 100 was seen opening higher, with futures up 0.4%. Brussels reportedly 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. A survey found British consumer confidence at a more than two-year high this month.
3. Commodities and rates
Oil prices fell as markets weighed the possibility of a U.S.-Iran truce against concerns that Houthi attacks on Saudi Arabia could disrupt supply. Gold eased and was set for a weekly loss amid a stronger dollar and expectations that the Federal Reserve would keep rates elevated. Copper edged higher and was set to finish the week up after volatile trading.
