UK Stocks-Factors to watch on Dec. 4 (updated)

Sumitomo Metal Mining

04/12/2024 07:45

(Adds news items, updates futures)
       Dec 4 (Reuters) - Britain's FTSE 100  .FTSE  index is
seen opening lower on Wednesday, with futures  FFIc1  down 0.4%.
    
    * RIO TINTO: Activist investor Palliser Capital demanded Rio
Tinto  RIO.L  scrap its primary listing in London and unify its
corporate structure in Australia, saying about $50 billion in
shareholder value has already been lost due to the dual listing.
    * DRAX: British power generator Drax Group  DRX.L  announced
the retirement of Andy Skelton as its chief financial officer
(CFO).
    * COSTAIN: Costain  COSG.L  will be awarded a new contract
worth at least 400 million pounds by HS2 Ltd for a high-speed
rail network, the UK construction and engineering firm said.
    * THAMES WATER: Thames Water creditors have told the
struggling British utility firm that it cannot use the proposed
3 billion pound financing package to pay fines, the Financial
Times reported.
    * BARCLAYS: Barclays  BARC.L  has agreed to pay $19.5
million to settle a lawsuit in Manhattan by shareholders who
accused the British bank of securities fraud after it sold $17.7
billion more debt than regulators allowed.
    * RIO TINTO: Miner Rio Tinto  RIO.AX  said it has formed a
joint venture with Japan's Sumitomo Metal  5713.T  to develop
and operate the Winu copper-gold project in Western Australia.
    * EDF: EDF will extend the life of four of its British
nuclear plants and invest 1.3 billion pounds in its British
fleet over 2025-2027, it said.
    * UK CLIMATE TECHNOLOGY: Qatar will invest 1 billion pounds
in climate technology in the United Kingdom, with engineering
company Rolls-Royce  RR.L  set to benefit from some of the cash
to support its energy transition, the British government said.
    * OIL: Oil prices inch up on geopolitical tensions, OPEC+
supply plans.
    * GOLD: Gold edges up; focus on US jobs data, Fed Chair's
speech
    * METALS: London copper muted as dollar regains ground. 
        
  
    * For more on the factors affecting European stocks, please
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    TODAY'S UK PAPERS
    > Financial Times  PRESS/FT 
    > Other business headlines  PRESS/GB 

 (Reporting by Aby Jose Koilparambil and Prerna bedi in
Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))