UPDATE 1-UK Stocks-Factors to watch on Feb 20
LONDON Feb 20 (Reuters) - Britain's FTSE 100 index is seen opening lower on Thursday, with March futures down 0.7 percent by 0738 GMT ahead of the cash market open.
* Darkening the mood, China's flash Markit/HSBC Purchasing Managers' Index (PMI) fell to a seven-month low of 48.3 in February from January's final reading of 49.5. A reading below 50 indicates a contraction while one above shows expansion.
* The UK blue chip index closed up 0.28 points - flat in percentage terms - at 6,796.71 points on Wednesday. It hit 6,810.48, its highest since late January, earlier in the day. The index has seen a rally of around 6 percent since early February.
* BAE SYSTEMS : BAE Systems posted a 3 percent rise in full-year profit, in line with analysts' expectations, and said it expected continuing U.S. budget pressures to reduce earnings per share by 5-10 percent this year compared to 2013.