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UPDATE 1-UK Stocks-Factors to watch on May 11

Published 11/05/2016, 04:38 pm
Updated 11/05/2016, 04:40 pm
© Reuters. UPDATE 1-UK Stocks-Factors to watch on May 11
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May 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening flat on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.03 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on The UK blue chip index closed up 41.84 points or 0.68 percent higher at 6,156.65 on Tuesday, lifted by gains for shares in budget airline easyJet EZJ.L and support services group Capita CPI.L . BHP Billiton: BHP BHP.AX BLT.L has talked up its future growth options, joining fellow mining giant Rio Tinto RIO.AX RIO.L in marking a shift in focus after four years of aggressive cost cutting. RBS: Investors in state-backed Royal Bank of Scotland RBS.L want the British government to intervene in the bank's seven-year struggle to sell a small business lender to meet European Union demands, which they say clash with UK taxpayers' interests. TUI: European tourism group TUI TUIT.L said it planned to sell its specialist group of holiday brands, leaving it with just its main tourism business after it sold its Hotelbeds Group last month. PREMIER OIL: Oil producer Premier Oil PMO.L said its cost-cutting measures due to weak oil prices were bearing fruit as its operating costs have fallen 10-20 percent below expectations. Liberty Global/O2 UK: Liberty Global LBTYA.O would consider buying Telefonica 's TEF.MC O2 UK mobile network if Brussels blocks its agreed sale to CK Hutchison 0001.HK but said the cable group also valued the flexibility it had in its current strategy of being a virtual mobile operator. COMPASS: Compass Group CPG.L , the world's biggest catering firm, maintained its full-year expectations citing an encouraging pipeline of new orders, after posting higher first-half revenue on the back of strong demand for its services in North America and Europe. BREXIT: Four-fifths of Britain's major companies have taken steps to hedge against the risk that a vote to leave the European Union will knock more than 10 percent off the value of sterling, a poll of almost 800 of Britain's top 1,000 companies showed on Wednesday. COPPER: London copper edged away from one-month lows on Wednesday, as a softer dollar offered some reprieve, despite worries over renewed weakness in China's economy that have pummelled steel and iron ore prices. MTL

* OIL: Oil prices dipped on Wednesday as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets. O/R

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