UPDATE 1-UK Stocks-Factors to watch on Thursday Feb. 27
LONDON Feb 27 (Reuters) - Britain's FTSE 100 index is set to open lower on Thursday, with futures falling 0.3 percent ahead of the cash market open.
* The UK blue chip index closed down 0.5 percent, or 31.3 points, at 6,799.15 on Wednesday, hit by a fall in heavily-weighted Tesco after a spate of analyst downgrades following its results on Tuesday.
* RBS - Part-nationalised Royal Bank of Scotland said it would refocus on serving British customers after reporting an 8.2 billion pound ($13.64 billion) loss for 2013, hit by restructuring costs and misconduct charges.
Royal Bank of Scotland also said it intends to sell almost all of its remaining stake in Direct Line Insurance Group through a placement to institutional investors.