UK Stocks-Factors to watch on Monday Dec 7
Dec 7 (Reuters) - Britain's FTSE 100 index is seen opening up 38 points, or 0.5 percent higher, according to financial bookmakers. For more on the factors affecting European stocks, please click on:.
* The UK blue chip index closed down 0.6 percent at 6,238.29 points on Friday, still smarting from disappointment around new measures announced in European Central Bank's policy update on Thursday, and with the failure of OPEC members to agree on an oil production ceiling pulling down miners and oil stocks.
* INSURERS: British insurers Aviva and Prudential and the Lloyd's of London insurance market were among 19 firms to have their capital calculation models approved by the Bank of England on Saturday, enabling them to lower costs under new rules.
* BHP BILLITON: Anglo-Australian miner BHP Billiton Plc will cut 76 jobs from its Canadian potash operations due to low commodity prices, a company spokesperson said on Friday.
* BARCLAYS: Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said on Friday, as the British bank steps up efforts to slash costs and boost profit.
* GLENCORE: Glencore Plc, a global miner and trading company under pressure due to concerns about its huge debt pile, will inform investors this week that it expects to complete its $10 billion debt reduction plan ahead of its schedule, the Financial Times reported on Sunday. (on.ft.com/1LX7uIe)
* HEATHROW AIRPORT: Britain's Prime Minister David Cameron could approve as soon as this week the building of a new runway at Heathrow Airport, ending decades of political deadlock as well as breaking a famous pledge made in 2009 not to allow a third runway to be built at Europe's busiest hub airport.
* EU REFERENDUM: Prime Minister David Cameron has privately conceded he may have to campaign for Britain to leave the European Union if he continues to be "completely ignored" by EU partners, The Daily Telegraph reported on Saturday. Continuación...