UPDATE 2-UK Stocks-Factors to watch on Monday Dec 7
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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. Continuación...