(Adds futures, updates company news items)
July 13 (Reuters) - Britain’s FTSE 100 index is seen opening down 20 points on Wednesday, according to financial bookmakers, with futures down 0.35 percent ahead of the cash market open.
* The UK blue chip index closed at 6,680.69, flat in percentage terms, on Tuesday, but near its highest level since August last year, as political uncertainty eased following the news Theresa May will be the next prime minister.
* POUNDLAND: South Africa’s Steinhoff will bulk up its presence in the British market after agreeing a 597 million pounds ($794 million) takeover of single price retailer Poundland, it said on Wednesday.
* BARRATT: Barratt Developments, Britain’s biggest housebuilder by volume, said it was reassessing some of its land approvals needed to build homes to better prepare it for any fallout from Britain’s vote to leave the EU.
* BURBERRY: Britain’s Burberry reported a 3 percent drop in like-for-like sales in a “challenging” first quarter, underlining the size of the task facing Marco Gobbetti when he takes over chief executive duties from Christopher Bailey next year.
* GW PHARMACEUTICALS: British drug developer GW Pharmaceuticals Plc said it would raise $252 million through the issue of 2.8 million shares on the Nasdaq.
* MARKS & SPENCER: The new boss of Marks & Spencer appealed to the British retailer’s army of private shareholders to back his attempt to revive its clothing business, but some attendees at Tuesday’s annual investor meeting remained fearful of another false dawn.
* UK BANKS: All bank loans to small businesses would in future be eligible for a reduction in capital charges, not just loans of up to 1.5 million euros ($1.66 million), under a proposal made by the EU’s outgoing financial services chief on Tuesday.
* UK GOVERNMENT: Britain’s opposition Labour Party ruled on Tuesday that its leader Jeremy Corbyn had the automatic right to stand in a new leadership contest, setting the stage for a struggle between the veteran socialist’s supporters in the country and party lawmakers who want to oust him.
* UK GOVERNMENT: Ratings agency Moody’s Investors Service welcomed the faster-than-anticipated change in leadership of Britain’s government but said it also increased the risk of a looser fiscal stance.
* OIL: Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC that demand would increase next year.
* COPPER: London copper surged through the $5,000 mark on Wednesday for the first time since late April, as renewed appetite for risk triggered a furious flurry of short-covering.
* GOLD: Gold on Wednesday edged up slightly after suffering its biggest fall in seven weeks, with global equities rallying on easing political uncertainty in Britain, which is set to get a new prime minister.
TODAY‘S UK PAPERS
> Financial Times
> Other business headlines (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)