Economy 2 MIN READ

Factors to watch in the UK on May 15

May 15, 2023By Reuters

Britain’s FTSE 100 index is seen opening higher on Monday, with futures up 0.1%.

* SRAM & MRAM: India’s SpiceJet Ltd said on Monday that UK-based SRAM & MRAM Group will invest USD 100 million in its cargo division SpiceXpress, sending shares of the budget airline up as much as 4.8%.

* BOE: British public sector employers plan the biggest pay increases in over a decade and private sector deals are set to remain high, according to a survey published on Monday, potentially adding to worries at the Bank of England.

* GATWICK: Britain’s Gatwick airport shut its runway for almost an hour on Sunday over a “suspected drone” incident, Sky News reported.

* OIL: Oil prices slipped on Monday as concerns about fuel demand in top global oil consumers United States and China offset bullish sentiment about tightening supplies from any OPEC+ cuts and a resumption in US buying for reserves.

* GOLD: Gold prices edged higher on Monday as the US debt ceiling stalemate and concerns of an economic slowdown steered some traders towards the safe-haven metal.

* Britain’s FTSE 100 index closed higher on Friday, with healthcare and energy stocks leading as oil prices rebounded and drugmaker GSK jumped, while data showed the British economy grew slightly in the first quarter of the year.

(Reporting by Muhammed Husain in Bengaluru)

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