UK Stocks-Factors to watch on Dec 29
Dec 29 (Reuters) - Britain's FTSE 100 index is seen opening up 2 points, or 0.03 percent higher on Tuesday according to financial bookmakers, as the market resumed trading after the Christmas break. For more on the factors affecting European stocks, please click on
* The UK blue chip index closed 0.2 percent higher on Thursday, Dec. 24 at 6,254.64, as commodity-related companies climbed on the back of a further rebound in oil prices.
* FLOODS: Towns, cities and countryside across northern England were inundated when rivers broke their banks in recent days, a government agency said on Monday. Hundreds of soldiers have been deployed to evacuate residents and help emergency services. Local authorities said around 500 properties were flooded in the historic city of York, and 2,000 homes and 400 businesses in Leeds.
* INSURERS: Accountancy firm PwC said on Sunday the economic loss from the floods could be between 900 million and 1.3 billion pounds ($1.3-1.9 billion), with the insurance industry bearing between 700 million to 1 billion pounds of the total. KPMG said the initial total cost estimate could be between 5 billion and 5.8 billion pounds, with insured homeowners and businesses claiming between 1 billion and 1.5 billion pounds in insured losses.
* HSBC: Commerzbank AG has sued Bank of New York Mellon Corp and units of Deutsche Bank AG, Wells Fargo & Co and HSBC Holdings Plc in the United States, claiming that they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the German lender before the 2008 financial crisis.
* RBS: Competition Commission of India approved the acquisition of Royal Bank of Scotland Group Plc's India wealth management business by Sanctum Wealth. RBS said in September that it would sell the unit as the British bank pulls back from some foreign markets to focus on UK retail and commercial banking. (reut.rs/1MEgt1x)
* BANKS/LENDERS: Lending by British banks to consumers grew last month at its fastest rate in more than eight years, the British Bankers' Association said on Dec. 24, figures which are likely to catch the attention of the Bank of England. Overall consumer credit lending rose by 5.7 percent in the 12 months to November, the fastest rise since March 2007.
* OIL: Crude oil prices remained under pressure on Tuesday as fears of slowing demand added to worries over near-record global production levels that have slashed prices by two-thirds since the middle of last year. Continuación...