Economy 2 MIN READ

UK Stocks-Factors to watch on March 10

March 10, 2023By Reuters

Britain’s FTSE 100 .FTSE index is seen opening lower on Friday, with futures FFIc1 down 1.4%.

* SHELL: Brazilian state-run company Petrobras PETR4.SA and international oil major Shell SHEL.L will work together to identify potential opportunities to explore for and produce crude and natural gas, Petrobras said.

* ASDA: British supermarket groups Asda and Morrisons have started to remove some of their customer purchase limits on salad vegetables and fruit after weeks of shortages and empty shelves.

* LENDERS: Britain’s financial watchdog said it expects the number of mortgage borrowers struggling to keep up with payments to rise at a much slower pace in the next 12 months than previously forecast because interest rate hikes will be more modest.

* OIL: Oil fell for a fourth session, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing growth and hitting fuel demand.

* GOLD: Gold prices eased as investors keenly look forward to the U.S. non-farm payrolls report due later in the day to assess the likely path of the Federal Reserve’s rate-tightening cycle.

* METALS: Copper prices slid, heading for weekly losses as fears over persistent interest rate hikes by the U.S. Federal Reserve weighed on investor sentiment, while improving supply prospects added downward pressure on the market.

* FTSE: London’s FTSE 100 closed lower on Thursday amid investor caution over higher U.S. interest rates, with mining stocks leading the falls as metal prices dropped due to a stronger dollar.


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(Reporting by Prerna Bedi in Bengaluru)

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