February 2, 2018 / 5:11 AM / 6 months ago

UK Stocks-Factors to watch on Feb. 2

    Feb 2 (Reuters) - Britain's FTSE 100 index is seen opening 9 point
lower at 7,481.7 on Friday, according to financial bookmakers.
    
    * ASTRAZENECA: Array BioPharma Inc on Thursday sued AstraZeneca
, accusing the pharmaceutical company of refusing to pay required
royalties for a cancer drug after entering into an $8.5 billion collaboration
with Merck & Co. 
    * PROVIDENT FINANCIAL: British lender Provident Financial Plc will
appoint its interim executive chairman, Malcolm Le May, as the company's new
chief executive, Sky News reported on Thursday.
    * IWG: Canadian private equity firm Onex Corp and Brookfield Asset
Management said on Thursday they do not intend to make an offer for
IWG Plc, sending shares of the British serviced office provider down
more than 20 percent.
    * BRITAIN INTEREST RATE: After waiting for over 10 years for a Bank of
England (BoE) interest rate increase, investors are increasingly expecting
another one to come along soon.
    * OIL: Oil rose for a third day on Friday after a survey showed strong
compliance with output cuts by OPEC and others including Russia, offsetting
concerns about surging U.S. production.
    * GOLD: Gold prices edged down on Friday ahead of U.S. jobs data later in
the day, with traders looking for any implications for the outlook for U.S.
monetary policy over the rest of the year.
    
    * The UK blue chip index fell 0.6 percent to a six-week low on Thursday,
after Vodafone posted a disappointing trading update and dragged British shares
into a third day of losses as outsourcing firms failed to recover after Capita's
profit warning during the previous session.
    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets
    
    * UK CORPORATE DIARY:
    
 AstraZeneca PLC                    Full Year
 BT Group PLC                       Q3
 Vedanta Resources PLC              Q3 
 Gem Diamonds Ltd                   Q4
 
        
    TODAY'S UK PAPERS
    > Financial Times                     
    > Other business headlines            
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 (Reporting by Noor Zainab Hussain in Bengaluru)
  
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