LONDON, July 6 (Reuters) - Britain’s FTSE 100 index is seen opening down by 106 to 140 points, or as much as 2.1 percent lower on Monday, with concerns over Greece expected to impact European stock markets, according to financial bookmakers.
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* The UK blue chip index closed down 0.7 percent at 6,585.78 points on Friday, marking its biggest weekly drop in a month.
* GREECE: Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country’s euro zone membership into further doubt and deepening a standoff with lenders.
* BRITISH BUDGET: Britain’s finance minister George Osborne on Sunday said he had found all 12 billion pounds of welfare cuts he needs as part of his plan to balance the current budget by 2017/18, speaking ahead of his budget announcement on Wednesday.
* LABOUR PARTY: The British Labour Party’s biggest financial backer, trade union Unite, on Sunday backed left-wing lawmaker Jeremy Corbyn to be the party’s new leader.
* BRITISH BANKS: Britain’s banks have called upon the government to phase out the bank levy, saying it is damaging the competitiveness of the industry and causing them to lose business to overseas rivals.
* CVC/FORMULA ONE: Formula One’s commercial rights holders CVC Capital Partners are under no pressure to sell their controlling stake in the sport and want to keep it, co-chairman Donald Mackenzie told Reuters on Saturday.
* UK FLOOD FUND: The new government-backed British flood subsidy fund is preparing to make one of the world’s largest purchases of catastrophe insurance with plans to buy backstop cover worth 2.1 billion pounds, the Financial Times reported.
TODAY‘S UK PAPERS
> Financial Times
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