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UK Stocks-Factors to watch on June 3
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UK Stocks-Factors to watch on June 3
Jun 2, 2024 10:21 PM

June 3 - Britain's FTSE 100 index is seen

opening high on Monday, with futures up 0.83%.

* SHEIN: Online fashion firm Shein is preparing to file a

prospectus with Britain's Financial Conduct Authority for

approval ahead of a potential London float which could value it

around 50 billion pounds ($63.71 billion), Sky News reported on

Sunday.

* HIPGNOSIS SONGS FUND ( HPGSF ): Blackstone will sweeten its

offer for Hipgnosis Songs Fund ( HPGSF ) by a cent to $1.31 from

$1.30 as part of a revised bid that would value the firm at

nearly at $1.6 billion, the Financial Times reported on Monday.

* ASTRAZENECA ( AZN ): AstraZeneca ( AZN ) and Daiichi Sankyo's ( DSKYF )

Enhertu slows the progression of breast cancer by about

five months in women whose disease worsened after endocrine

therapy - even if they had very low levels of the mutant protein

targeted by the drug, according to trial results announced on

Sunday.

* ZANTAC: A Delaware judge has allowed more than 70,000

lawsuits over discontinued heartburn drug Zantac to go forward,

ruling that expert witnesses can testify in court that the drug

may cause cancer.

* OIL: Oil prices were little changed, as investors weighed

a move by producer group OPEC+ to extend deep output cuts well

into 2025.

* London stocks closed higher on Friday, logging a third

straight month of gains, as investors cheered an in-line

inflation reading from the U.S. that brought back some hopes of

a September rate cut by the Federal Reserve.

* For more on the factors affecting European stocks, please

click on:

TODAY'S UK PAPERS

> Financial Times

> Other business headlines

($1 = 0.7848 pounds)

(Reporting by Anchal Rana in Bengaluru)

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