LONDON, Jan 8 (Reuters) - Britain's FTSE 100 index is seen opening up by 72 to 76 points, or as much as 1.2 percent higher, on Thursday, according to financial bookmakers. For more on the factors affecting European stocks, please click on
* The UK blue chip index closed up 0.8 percent at 6,419.83 points on Wednesday.
* TESCO : Tesco delivered its first salvo in a fight back against the growth of discount supermarkets on Thursday by cutting the price of hundreds of branded products such as Hovis bread, Kellogg's cornflakes and Stella Artois lager. Tesco's new head Dave Lewis is due to outline his turn-around plan later on Thursday when he updates on trading. Analysts expect Tesco's UK like-for-like sales over Christmas to have fallen 2.0-4.3 percent.
* MARKS & SPENCER : Tesco's rival Marks & Spencer also issues a trading update on Thursday.
* STANDARD CHARTERED : Standard Chartered is closing the bulk of its global equities business and axing 4,000 retail banking jobs as Peter Sands moves to aggressively cut costs to reverse the Asia-focused bank's fortunes, according to a memo seen by Reuters.
> Financial Times
> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting by Sudip Kar-Gupta)