UK Stocks-Factors to watch on Feb 8

08 Feb, 2019

SSE: Britain's SSE Plc cut its full-year profit forecast, hurt by the suspension of payments from a back-up power scheme to energy suppliers.

VISA: Visa Inc on Friday sweetened its offer for payment company Earthport Plc EPO.L to about 247 million pounds ($319.84 million), topping rival Mastercard Inc's MA.N earlier bid.

Nationwide Building: Britain's bellwether mortgage lender Nationwide Building Society reported a 21 percent fall in third quarter profits, after further ramping up investment in digital banking.

PETROFAC: Shares in British oil services firm Petrofac slumped almost 30 percent on Thursday after a former senior executive pleaded guilty to 11 counts of bribery in relation to oil deals in Iraq and Saudi Arabia.

GOLD: Gold held steady on Friday on worries that a prolonged Sino-US trade war could worsen global economic slowdown, but a strong dollar put bullion on track for its first weekly loss in three.

OIL: Oil markets fell on Friday, pulled down by an economic slowdown, although supply cuts led by producer club OPEC and US sanctions against Venezuela provided crude with some support.

The UK blue chip index closed 1.11 percent down at 7093.58 on Thursday,as economic growth concerns resurfaced after the Bank of England joined the European Commission in cutting its growth forecast amid Brexit uncertainty, while tour operator TUI plunged after poor results.

Copyright Reuters, 2019

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