UK stocks—factors to watch on November 9
EWU•Britain’s FTSE 100 was seen opening 0.1% higher on Monday. The factors to watch included UK jobs and electric-vehicle policy, updates from BP and GSK, and moves in oil, gold and copper.
1. UK market factors
Britain’s FTSE 100 was seen opening 0.1% higher on Monday. A recruiter survey said the UK job market cooled in October while starting salaries for permanent jobs rose faster. The government was expected to cut its 2030 electric-vehicle sales target by about a quarter, to around 60%, a report said.
2. Company updates
BP said representatives from its Whiting refinery had offered to meet United Steelworkers Local 7-1 the following week but had not received confirmation from the union. GSK and Moderna said they had settled lawsuits alleging that Moderna’s COVID-19 vaccines Spikevax and mNEXSPIKE, and RSV shot mResvia, infringed GSK patents.
3. Markets and commodities
Oil prices fell at Monday’s open, while gold rose more than 1% as softer oil eased inflation concerns. Copper rebounded from the previous week’s sharp decline as supply concerns persisted in China. The FTSE 100 fell 1% on Friday and declined for the week.
