UPDATE 1-UK Stocks-Factors to watch on May 4
(Adds futures, Shell, Glencore, Electra, Virgin Money, Sainsbury's, Imperial Brands, Axa)
May 4 (Reuters) - Britain's FTSE 100 index is seen opening slightly lower on Wednesday, with futures down 0.16 percent ahead of the cash market open, with futures down 0.1 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on
* The UK blue chip index closed down 56.30 points, or 0.9 percent, at 6,171.04 points on Tuesday, weighed down by weakness in the mining sector after poor data, with financial stocks also hit by a fall in HSBC following results.
* SHELL: Royal Dutch Shell on Wednesday said it plans to reduce 2016 spending by around 10 percent to $30 billion due to low oil prices, after reporting better-than-expected first-quarter results.
* GLENCORE: Commodity miner and trader Glencore on Wednesday reported a fall in output of copper, zinc, lead, coal and oil following a decision to cut production because of low prices.
The company is considering selling its Vasilkovskoye gold mine in Kazakhstan, sources close to the deal said on Tuesday, confirming an earlier report in the Financial Times.
* TATA STEEL: Two groups signalled their interest in buying the British assets of Tata Steel on Tuesday, offering hope that thousands of jobs could be saved after weeks of uncertainty.
* VIRGIN MONEY: British challenger bank Virgin Money Holdings Plc said gross mortgage lending jumped 30 percent to 2.1 billion pounds in the first quarter, winning a 3.4 percent share of the UK mortgage market. Continuación...