UK Stocks - Factors to watch on Feb 11

 

The FTSE 100 is seen opening 32-33 points higher on Thursday as strong economic data from Australia and China bolstered Asian stocks, with investors awaiting a summit that could lay out a rescue plan for debt-stricken Greece.

The blue-chip index is seen by financial bookmakers opening around 0.6 percent higher, up for a fourth day after ending 0.4 percent higher in the previous session to close at 5,131.99.

Data showing a surge in employment in Australia and stronger-than-expected bank lending in China in January helped the MSCI index of Asian stocks traded outside Japan advanced 1.6 percent, with the metals and energy sector leading the way.

But investors in Europe are likely to remain guarded ahead of a summit at which European Union leaders will lay the groundwork for a financial rescue of Greece later in the day. Any support is likely to require a big commitment from Athens on getting its economy in order.

With no significant UK data expected, investors will await U.S. jobless data released at 1330 GMT for more guidance on how fast the global economy is recovering from recession.

* GLOBAL MARKETS-Asia shares up; eyes on EU summit, Greece

* US STOCKS-Wall St slips as Bernanke offsets Greece report

* Nikkei rises 0.3 pct as hopes of Greece aid plan help

* PRECIOUS-Gold edges up on steadier euro; awaits EU summit

* METALS-Copper jumps; dlr supports, China data a positive

* Oil rises toward $75 on EIA f'cast, Greek rescue hope

* Euro rises before EU summit, Aussie jumps on data

* TREASURIES-Bonds fall on Bernanke comments, poor auction

UK stocks to watch on Thursday are:

RIO TINTO

The global miner reports a 23 percent slide in second-half profit to $3.73billion, beating analysts' forecasts of around $3.08 billion.

The miner voiced deep concern about the nature of charges levelled against four of its China-based staff, after they were indicted for bribery and stealing commercial secrets.

BHP BILLITON

The global miner has notified Japanese steelmakers that it hopes to set prices for coking coal every quarter instead of once a year, starting in fiscal 2010, the Nikkei business daily reported.

GLAXOSMITHKLINE

The drugmaker is considering spinning off some of the work conducted at its research site in Verona, Italy, as part of ongoing consultations with staff,according to people familiar with the situation.

UNILEVER

The chief executive of Unilever, Paul Polman, has warned that the household products firm may move offshore if the British government increases the tax and regulatory burden, the Daily Telegraph said.

ABERDEEN ASSET

Rumours suggest a foreign bank is casting a beady eye over the British fundmanager and has contacted Credit Suisse

BT GROUP

The telecoms group releases Q3 results.

DIAGEO

The drinks company releases first half results.

ROLLS ROYCE

The engineer releases full-year results.

SMITH & NEPHEW

The medical equipment company releases its final results.

THOMAS COOK

The holiday group releases a trading update.

HALMA

The engineer releases a trading update.

MOUCHEL GROUP

The support services firm releases a trading update.

SPORTS DIRECT INTERNATIONAL

The sporting goods retailer issues a trading update.