June 13, 2018 / 5:40 AM / 9 months ago

UK Stocks-Factors to watch on June 13

    June 13 (Reuters) - Britain's FTSE 100 index is seen opening up 1
point at 7,705 on Wednesday, according to financial bookmakers.     
    * SAINSBURY: A British parliamentary committee will question the CEOs of the
UK's no. 2 supermarket Sainsbury's and its third-biggest supermarket
Asda ahead of their proposed combination, as scrutiny of the deal cranks up.

    * DELIVEROO: Deliveroo will allow restaurants to use their own riders for
orders placed through its takeaway food app, in a move which will boost the
number of available outlets by 50 percent as it intensifies a battle with rival
Just Eat.
    * GLENCORE: Democratic Republic of Congo state miner Gécamines will drop
legal proceedings to dissolve a copper and cobalt joint venture with a
subsidiary of Glencore Plc after reaching a settlement with its partner
that includes Gécamines getting a $150 million payment.
    * WPP: Investor anger over the departure of WPP boss Martin Sorrell will
burst into the open on Wednesday when shareholders tackle management over its
handling of a boardroom battle that has gripped the British corporate scene.

    * EXXON: Exxon Mobil Corp is pushing deeper into energy trading,
building a global cadre of experienced traders and beefing up risk-management
systems to lift profit, according to executive recruiters and people familiar
with the business.
    * BT: S&P Global Ratings on Tuesday cut its credit rating on BT Group
, citing strict oversight by British telecom regulator of its broadband
    * OIL: Oil prices fell on Wednesday, pulled down by rising supplies in the
United States and expectations that voluntary output cuts led by producer cartel
OPEC could be loosened.
    * GOLD: Gold prices were steady on Wednesday after falling to one-week lows
the session before, with investors waiting for the conclusion of the U.S.
Federal Reserve's meeting later in the day for clues on the timing of future
interest rate hikes.
    * Losses in miners and oil majors pulled UK blue chip index down closing 0.4
percent lower at 7,703.81 on Tuesday.
    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets
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 (Reporting by Sangameswaran S in Bengaluru)
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