LONDON, Nov 12 (Reuters) - Britain's FTSE 100 futures contract dipped 0.1 percent lower on Wednesday, with the banking sector in focus after global regulators fined five major banks for failings in currency trading. For more on the factors affecting European stocks, please click on
* The UK blue chip index closed up by 0.2 percent at 6,627.40 points on Tuesday, marking its highest closing level since late September.
* BANKS: Britain fined five major banks including UBS and Citigroup 1.1 billion pounds ($1.75 billion) for failings in currency trading in a landmark settlement after a scandal that has roiled the world's largest market. HSBC, Royal Bank of Scotland and JP Morgan also settled UK allegations of failures after a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash with dozens of dealers suspended or fired.
U.S. regulator the Commodity Futures Trading Commission (CFTC) fined five banks more than $1.4 billion for the attempted manipulation of foreign exchange rates. The CFTC said it had imposed penalties of $310 million on both Citibank and JPMorgan, $290 million each on Royal Bank of Scotland and UBS and $275 million on HSBC.
* SAINSBURY : British grocer Sainsbury's said it would rein in spending on new stores and find more cost savings to finance price cuts as it seeks to cope with the toughest market conditions for decades.
* BURBERRY : British luxury brand Burberry on Wednesday pointed to a "more difficult external environment" as it posted a 6 percent rise in half-year adjusted pre-tax profit that was in line with forecasts.
* TULLOW OIL : Africa-focused oil and gas explorer Tullow Oil said it will concentrate its investment focus on its producing assets and existing discoveries because of weak oil prices and poor offshore drilling results.
* SSE : Utility SSE said it expected full-year earnings at the lwoer end of the range of market forecasts.
* G4S : G4S, the world's biggest security firm, said it had agreed to sell its U.S. government solutions business, as it posted underlying revenue growth of 4.2 percent for the first nine months of the year.
* BHP BILLITON : BHP Billiton is redoubling its efforts to secure supplies to feed its Australian Nickel West division, industry sources said, after it rejected offers to sell the business.
* OPEC: A subtle shift may be taking place within OPEC as it heads into its most important meeting in years, according to delegates with the producer group, as the discussion over whether it needs to cut output to defend oil revenues quietly intensifies.
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