UK Stocks-Factors to watch on Nov 11

November 11, 2022 10:16 AM CET | By Reuters

Nov 11 (Reuters) - Britain's FTSE 100 index ticked higher on Friday and was up 0.03% as of 0909 GMT.

* ECONOMY: Britain's economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week.

* INFLATION: British finance minister Jeremy Hunt said on Friday the best way to help cash-strapped households hit by a cost of living squeeze was to produce a fiscal plan that would bring down inflation.

* HEATHROW: London's Heathrow airport said its passenger numbers in October reached 84% of pre-COVID-19 levels, supported by a rise in travel during the half-term break and a gradual return of business travellers.

* GSK: Britain's GSK said it will limit the use of its ovarian cancer treatment Zejula in the United States, to patients with some genetic anomalies when given as a second option to keep their cancer at bay.

* ASTRAZENECA: Drugmaker AstraZeneca said its lung cancer drugs Imfinzi and Imjudo have been approved by the U.S. Food and Drug Administration (FDA) when used along with chemotherapy for treatment of adults with stage IV non-small cell lung cancer.

* OIL: Oil prices jumped more than 2% on Friday after health authorities in China, the top global crude importer, eased some of the country's heavy COVID curbs.

* GOLD: Gold prices edged higher on Friday en route to their biggest weekly gain in more than two years as U.S. data pointing to slowing inflation boosted hopes that the Federal Reserve would slow its aggressive rate hikes.

* For more on the factors affecting European stocks, please click on:


> Financial Times

> Other business headlines (Reporting by Radhika Anilkumar in Bengaluru)

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