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UK Stocks - Factors to watch on Nov 24

Source: Reuters - Tue 24th Nov 2009

Britain's FTSE 100 index is seen opening 23-25 points lower on Tuesday by financial bookmakers, giving back some of Monday's strong gains on profit-taking and after a weaker showing overnight in Asia.

The UK blue chip index is seen opening down as much as 0.5 percent after it closed up 104.09 points, or 2 pct higher at 5,355.50 on Monday snapping a four-session losing streak, with commodity and banking stocks rallying strongly.

U.S. stocks snapped a three-day losing streak on Monday as stronger-than-expected home sales data fueled recovery optimism, while a weaker dollar boosted commodity-linked stocks.

However Asian stocks slipped back Tuesday as the dollar stabilised and investors took a breather after recent gains.On the data front, UK third-quarter business inventories will be the only domestic figures of interest on Tuesday, with the quartery decrease seen slowing to 6.0 percent, down from 10.2 percent, while the annalised decline is seenrising to 23.3 percent, from 21.8 percent previously.

There will be, however, a raft of U.S. data for investors to digest this afternoon, including November consumer confidence numbers, the September Case/Schiller home prices survey, and the FHFA home prices index.

Attention will also be on the publication of minutes from the Nov 3-4 FOMC meeting, due after the London close at 1900 GMT.

* GLOBAL MARKETS-Dollar stabilises, Asia shares slip

** US STOCKS-Wall St rises as home sales feed optimism

* Nikkei slips 0.8 pct as banks, exporters drag

* FOREX-Dollar trims losses, yen crosses slip

* TREASURIES-Prices dip with higher stocks ahead of auction

* Oil above $77 in holiday-thinned trade, eyes data

* Gold eases, investors take profits after records hit

* METALS-Copper pares fund-led losses as dollar wilts

UK stocks to watch on Tuesday are:


Rio Tinto has agreed to buy and transport up to 1.5 million tonnes of iron ore annually from small Australian miner Iron Ore Holdings, a move that could enable Rio to avoid sharing its rail haulage lines with third parties.


The bank, 43-percent owned by the government, is due to set the price for its record 13.5 billion pound rights issue on Tuesday at the higher of either a 15 pence or 38-42 percent discount to the ex-rights price.


Marsh & McLennan, the second-largest global insurance broker by assets, is exploring a deal to buy part of HSBC's insurance business, the Daily Telegraph said.


Stephen Hester, the chief executive of RBS has told members of the CBI that bank lending to businesses will continue to be available to "supportable propositions" on fair terms, The Financial Times said.


Rolls Royce is facing the consequences of the cancellation of 20 Airbus A320 aircraft ordered by Gulf Air, as the airline strives to save $2.65 billion over the next five years, The Times said.


According to new data, Tesco is charging as much as 3 pence a litre more for petrol at fuelling stations in locations where there is no rival supermarket,with the figures for the price of diesel even more pronounced, The Times said.


The British media and events group has held early stage talks with its rival Springer Science and Business Media over buying the German academic publisher,the Financial Times said.


Jorge Cosmen, deputy chairman of National Express, has raised his family'sstake in the company to 19.5 percent and will now seek clarification from theboard regarding the transport company's strategy, the Daily Telegraph said.


The water group reports first-half results.


The condoms to footcare firm posts first-half results.


The retailer issues full-year results.


The specialist lender delivers full-year results.


The secure printer reports first-half results.


The plumbing and heating firm posts first-half results.


The domestic emergency services group issues first-half results.

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