FTSE seen opening lower
The FTSE 100 .FTSE index is seen opening 3 to 8 points lower on Monday, according to financial bookmakers, having closed down 57.2 points, or 1.1 percent at 5,354.7 in the previous session.
FTSE gains as metals spur minersInvestors will focus on first-half results from global banking group HSBC for further clues on the health of financial institutions amid a global credit crunch, and U.S. personal consumption expenditure data, the Federal Reserve's preferred measure of inflation, which is due at 1:30 p.m..
This week the Fed, the Bank of England and the European Central Bank are set to announce their respective interest rate verdicts. Analysts expect all three to stay on hold.
In the UK, confidence among manufacturers has fallen in every region as companies struggle with the soaring cost of raw materials, a CBI survey showed, the Times said.
UK stocks to watch on Monday are:
CENTRICA, BRITISH ENERGY
Centrica may revive plans for a 22.5 billion pound all-paper merger with British Energy after French group EDF's takeover of the nuclear operator stalled on Friday, the Sunday Telegraph said.
The Times said the UK government is expected to put intense pressure on EDF to table an improved offer to buy British Energy after its 12 billion pound bid for the nuclear power company was snubbed by shareholders at the last minutes.
HSBC
The banking group is due to issue its first half results.
Meanwhile, the bank said it was ready to submit an updated application to South Korean authorities on its bid for Korea Exchange Bank but declined comment on a local media report that it was negotiating to cut the purchase price.
ROYAL DUTCH SHELL
The Anglo-Dutch oil major has held talks with AIM-listed oil firm Sibir Energy about a 1 billion pound asset swap deal, the Sunday Times reported.
Separately, Royal Dutch Shell and BP have approached Australia's Origin Energy about its coal-seam gas assets, the Sunday Telegraph reported, citing sources close to the company.
IMPERIAL ENERGY
Chinese state-owned oil company Sinopec has launched a bid for Imperial Energy, in a move that could trump an existing 1,290 pence a share offer for the London-listed energy group, the Sunday Telegraph reported.
HBOS
Britain's biggest home lender said on Sunday it is selling a 400 million pound portfolio of investments in British private companies.
ENERGY COMPANIES
British Prime Minister Gordon Brown is working with energy companies on a package of measure worth hundreds of millions of pounds to protect the poorest families from rising fuel bills, but is expected to stop short of ordering a windfall tax on the sector, the Financial Times said.
PUNCH TAVERNS
Buyout group CVC Capital Partners is said to be weighing up a bid approach to the pubs operator, whose share price has fallen by more than 70 percent during the past year and is now worth just under 700 million pounds, the Daily Mail said.
RIO TINTO
The miner vowed on Monday to fight for its rights over a huge iron-ore mining project in Guinea after the west African nation challenged the company's mining permit.
Meanwhile, the company said global iron ore miners faced a continuing challenge to meet demand for the steel-making raw material.
QINETIQ
Qinetiq, the UK defence technology group, is in talks to buy a privately held company that provides top-level advice to U.S. intelligence services, in a move that will give it access to the heart of the lucrative U.S. defence market, the Financial Times said.
WPP, TAYLOR NELSON SOFRES
British market research group Taylor Nelson Sofres has repeated its advice to shareholders to reject a hostile offer from WPP Group, the world's second-largest advertising company.
Meanwhile, German market research group GfK said on Friday it is continuing to actively pursue an all-cash offer for Taylor Nelson Sofres.
SAGE
The software company is due to issue its trading update.
(Reporting by Dominic Lau)
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