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Dec 7 (Reuters) - Britain’s FTSE 100 index is seen opening up 38 points, or 0.5 percent higher, according to financial bookmakers. For more on the factors affecting European stocks, please click on:
* The UK blue chip index closed down 0.6 percent at 6,238.29 points on Friday, still smarting from disappointment around new measures announced in European Central Bank’s policy update on Thursday, and with the failure of OPEC members to agree on an oil production ceiling pulling down miners and oil stocks.
* INSURERS: British insurers Aviva and Prudential and the Lloyd’s of London insurance market were among 19 firms to have their capital calculation models approved by the Bank of England on Saturday, enabling them to lower costs under new rules.
* BHP BILLITON: Anglo-Australian miner BHP Billiton Plc will cut 76 jobs from its Canadian potash operations due to low commodity prices, a company spokesperson said on Friday.
* BARCLAYS: Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said on Friday, as the British bank steps up efforts to slash costs and boost profit.
* GLENCORE: Commodities group Glencore said it will idle its loss-making Collinsville colliery in Australia for three weeks starting later this month and will restrict production next year as thermal coal prices deteriorate. It said it would also lay off 80 percent of the remaining staff at the mine in Queensland state early next year with the loss of 180 jobs.
* PRUDENTIAL: Britain’s largest insurer Prudential said it would give an update on Jan 19 on its capital position under new European Union Solvency II rules, ahead of other insurers who aim to issue ratios alongside annual earnings statements.
* HEATHROW AIRPORT: Britain’s Prime Minister David Cameron could approve as soon as this week the building of a new runway at Heathrow Airport, ending decades of political deadlock as well as breaking a famous pledge made in 2009 not to allow a third runway to be built at Europe’s busiest hub airport.
* MEGGITT: Meggitt, a supplier of wheels, brakes and electronic systems to planemakers, said it would grow underlying revenue at a rate in the low to single digits in 2016, updating its guidance after a profit warning in October.
* SERCO: British outsourcing firm Serco warned that it expected revenue and trading profit in 2016 to decline further, due to the disposal of its offshore call centre business and a number of lost contracts.
* AVANTI COMMUNICATIONS: Satellite group Avanti Communications has won a contract with BT to help supply broadband services to British homes that have slow connections on terrestrial networks.
* CAIRN HOMES: Irish builder Cairn Homes and private equity firm Lone Star have agreed to buy a residential land portfolio from Royal Bank of Scotland’s Irish units for 503 million euros.
* EU REFERENDUM: Prime Minister David Cameron has privately conceded he may have to campaign for Britain to leave the European Union if he continues to be “completely ignored” by EU partners, The Daily Telegraph reported on Saturday.
* BRUSSELS: Bank of England Governor Mark Carney appears before European Parliament Committee on Economic and Monetary Affairs, in Brussels on Monday, only three days before the central bank is due to announce its latest monetary policy decision (1400 GMT).
* ECONOMY/MANUFACTURING: The outlook for British manufacturing next year has darkened, with output and new orders deteriorating at rates not seen since 2009, according to an industry survey on Monday that warned of slowing growth both at home and abroad.
* PERSIAN GULF FUNDS: Persian Gulf sovereign wealth funds have withdrawn money from asset managers at a record rate this year as falling oil prices have left gulf economies scrambling to inject cash into their economies, according to a Financial Times report published on Sunday.
TODAY‘S UK PAPERS
> 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 Esha Vaish in Bengaluru; Editing by Sudip Kar-Gupta)