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UK Stocks - Factors to watch on Nov 30

Source: Reuters - Mon 30th Nov 2009

Britain's FTSE 100 is seen opening between 11 points lower and 10 points higher on Monday, as shares derive support from a rally in Asia but with some lingering anxiety caused by fears about Dubai's debt problems.

Financial bookmakers predict the index will open between 0.2 percent lower and 0.2 percent higher, after it closed 1 percent higher on Friday at 5,245.73.

Shares tumbled 3.2 percent on Thursday, their biggest one-day percentage drop in eight months, after Dubai sought a debt standstill for state-owned Dubai World.

Shares in Asia recovered ground after last-week's sell off in the wake of Dubai debt woes as investors nerves steadied on hopes that the fallout of a potential default will be limited.

Analysts say some cautiousness could be expected at the start of European trading as investors assess the aftermath of the debt problems in Dubai.

On the economic front, British consumer confidence unexpectedly fell this month for the first time since January, slipping back to its lowest level since August, a monthly survey by GfK NOP for the European Commission showed

Meanwhile, the housing market in England and Wales strengthened modestly in November, with the smallest year-on-year drop in house prices since May 2008, a survey by property data company Hometrack showed

Britain's services companies turned in a weaker-than-expected performance inthe third quarter but are more optimistic about the future, a survey by the Confederation of British Industry showed.

During the session, investors will eye British mortgage lending and approvals for October, and headline M4 broad money supply for the same month, which are both due at 0930 GMT.

Data from the United States set for release include the Institute for Supply Management-New York business activity numbers at 1330 GMT, Chicago PMI data at 1445 GMT and U.S Midwest manufacturing data at 1700 GMT - after European markets close.

* GLOBAL MARKETS-Asian shares rebound, watching Dubai

* Dlr, yen fall after UAE central bank moves

* TREASURIES-Dip in Asia after Dubai worries ease; data eyed

* Oil rebounds toward $77 on weaker dlr, eyes Dubai

* PRECIOUS-Gold steady near $1,175 as dollar eases,Dubai eyed

* METALS-Copper rises as dlr weakens, Dubai fallout fears ease

UK stocks to watch on Monday are:


Cadbury shares "a lot of cultural similarity" with Hershey , Cadbury chief executive Todd Stitzer was quoted as saying in Saturday's Financial Times, speaking for the first time on record regarding speculation of takeover bidsfrom Hershey and Kraft


The household products maker, is thought to be preparing a two billion pound bond issue, fuelling speculation that it is planning a series of acquisitions.It has been suggested its first target would be SSL International, a deal that could be worth 1.8 million pounds, the Financial Times reported.


The pharmaceuticals giant is set to signigicantly cut the prices of its medicine in emerging markets next spring, the head of emerging markets for the company told the Financial Times.


The bank will officially enter the government's asset protection scheme next month, after terms were finalised on Thursday, the Financial Times reported on Saturday.


In conjunction with engine maker Rolls Royce, BA is to conduct a largescale trial of a number of biofuel products starting from next year, the Sunday Times reported.


The travel group releases preliminary results.


The generic drug supplier reports first-half results.


British budget airline Flybe and oil companies Fairfield Energy, Kuwait Energy, Caithness Petroleum, Exillon Energy and Canamens are planning initial public offerings in London next year which are expected to value them collectively at 1.5 billion pounds, the Sunday Times reported.

Meanwhile, fashion retailer New Look has met with Credit Suisse, DeutscheBank, Goldman Sachs, JP Morgan Cazenove and Nomura over the past few days as it gears up for a possible IPO early next year, the Sunday Telegraph reported.

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