UK Stocks-Factors to watch on Oct 31
On October 31, the FTSE 100 index is expected to open lower, with futures down 0.22%. TT Electronics rejected three takeover bids from DBAY Advisors. Princes Group plans to float at a valuation of £1.16 billion. Shell will sign an agreement with Angola’s ANPG for oil exploration. BP restocked fuel supplies in Indonesia. British house prices rose in October, exceeding forecasts. Wood Group reported a profit decline due to uncertainty. Oil prices eased amid a stronger dollar and weak data from China.
Oct 31 (Reuters) - Britain’s FTSE 100 (.FTSE) index is seen opening lower on Friday, with futures FFIc1 down 0.22%.
TT ELECTRONICS: TT Electronics (TTG.L) said it had rejected three unsolicited takeover proposals from private equity firm DBAY Advisors in the past three months, the last one worth 130 pence per share.
PRINCES GROUP: Princes Group is set to float at a valuation of 1.16 billion pounds ($1.56 billion) in one of London’s largest initial public offerings this year, pricing its shares at the lower end of the marketed range in a sign of investor caution. * SHELL: Angola’s national oil and gas agency, ANPG, will sign an exclusive negotiation agreement with oil major Shell (SHEL.L)
to explore and develop Blocks 19, 34, 35 as well as ultra-deep water blocks, it said in a statement.
BP: BP’s (BP.L) fuel station operator in Indonesia said that it had imported base fuel from a unit of the Indonesian state energy firm Pertamina, restocking its supplies after a shortage. * HOUSE PRICES: British house prices rose in October, lender Nationwide said outpacing forecasts by economists and adding to signs of demand in the housing market in the run-up to finance minister Rachel Reeves’ budget.
WOOD GROUP: Wood Group (WG.L) posted a fall in profit for the first half of the year, citing uncertainty stemming from an independent review, delays in publishing its 2024 audited accounts and a weakening financial position. * COMMODITIES: Oil prices eased , as a stronger dollar and weak China data capped gains, London copper slipped as the U.S. dollar firmed and Gold prices fell , as the dollar firmed on uncertainty over further Federal Reserve rate cuts.
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