UK Stocks-Factors to watch on Oct. 11

martes 11 de octubre de 2016 01:18 GYT

Oct 11 (Reuters) - Britain's FTSE 100 index is seen opening down
18-22 points, or 0.3 percent lower on Tuesday, according to financial
    * The UK blue chip index closed 0.8 percent higher on Monday at 7,097.50,
not far from a record 7,122.74 set in April last year, with commodities-related
stocks surging on the back of strong crude oil and major industrial metals
    * BP: BP Plc has abandoned plans to drill for oil and gas off the
south coast of Australia, saying it can get better value for its exploration
spending elsewhere, although it still sees strong potential in the Great
Australian Bight. 
    Separately, Marathon Petroleum Corp alleged BP failed to deliver a
Texas oil refinery and three products terminals in the condition promised under
a $2.4 billion sales agreement signed in 2012, according to a federal lawsuit
filed on Monday. 
    * RBS: Royal Bank of Scotland said on Monday there was no evidence
it had deliberately caused SMEs to fail, while a senior British lawmaker called
for the country's regulator to fix a publication date for a long-delayed review
into the allegations. 
    Separately, the Irish unit of Royal Bank of Scotland has sold non-performing
loans with a face value of 2.5 billion euro ($2.8 billion) to private equity
firm Cerberus, the bank said on Monday. 
    * RIO TINTO: Mining giant Rio Tinto said on Monday that the
International Finance Corporation (IFC), a partner in its $20 billion Simandou
iron ore project in Guinea, is selling its 4.6 percent stake. 
    * BREXIT: The United Kingdom could lose up to 66 billion pounds ($82
billion) a year under a "hard Brexit", The Times reported citing leaked
government papers. 
    * BREXIT: VTB, Russia's second biggest lender was considering
moving its European hub to Frankfurt, Paris or Vienna because of the disruption
expected to be caused by the country's vote to leave the European Union, the
state-controlled bank's deputy chairman and chief financial officer told
Financial Times.
    * BREXIT: Britain will have leverage in talks with the EU over so-called
"passporting" rights, which allow financial services to be sold into the EU
states from London, Brexit minister David Davis told parliament on Monday.
    * BREXIT: Britain's government will reject any attempt to ignore the result
of its referendum vote to leave the EU or to unduly delay the process of exiting
the bloc, Brexit minister David Davis told parliament on Monday. 
    * UK IPO: Fitness club chain Pure Gym Group Plc IPO-GYM.L will cancel its
initial public offering on Tuesday, Sky News reported, citing sources. Pure Gym
received sufficient orders but challenging IPO market conditions made it drop
the plan, the newspaper reported on Monday. ( 
    * UK FINANCE INDUSTRY: Prime Minister Theresa May criticised Britain's
finance industry for failing to promote and retain women as the government
revealed that some of the biggest players have committed to having at least 30
percent in senior roles by 2021. 
    * UK CONSUMER SPEND: British consumers picked up the pace of their spending
in September after a weak August, but the country's planned exit from the EU is
likely to weigh on sales ahead, an industry group said on Tuesday. 
    * UK MOTOR INSURANCE: UK third-quarter motor insurance prices rose 3 percent
on quarter, after a 6.5 percent rise in the second quarter, according to latest car insurance price index, compiled with consultant Willis Towers
    * DRIVERLESS CARS: A driverless vehicle carrying passengers will take to
Britain's public roads for the first time on Tuesday, as part of trials aimed at
paving the way for autonomous cars to hit the highways by the end of the decade.
    * OIL: Oil prices edged down on Tuesday but held near one-year highs touched
on growing expectations of an output cut by OPEC producers, with traders saying
the price outlook remains bullish as confidence in crude markets rises.
    * METALS: London copper drifted on Tuesday as the dollar held strong after
recent solid economic reports, although optimism that U.S. presidential
candidate Hilary Clinton was pulling ahead in the polls fed appetite for risk,
limiting losses. 

    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets
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($1 = 0.8042 pounds)

 (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri)