April 20, 2016 / 6:51 AM / 2 years ago

UPDATE 1-UK Stocks-Factors to watch on April 20

(Adds futures, company news items)

April 20 (Reuters) - Britain’s FTSE 100 index is seen opening down 20 points, or 0.3 percent, on Wednesday, according to financial bookmakers, with futures down 0.41 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed up 51.83 points higher on Tuesday at 6,405.35, having risen to its highest level in four months, lifted by stronger mining and banking stocks.

* BHP BILLITON: Mining giant BHP Billiton followed rival Rio Tinto in trimming its iron ore output guidance on Wednesday, helping to ease pressure on an over supplied market.

* BHP BILLITON: BHP Billiton is considering quitting its coal assets in Indonesia, where it recently started shipping steel-making coal from a small mine, amid uncertainty over Indonesian regulations and a weak outlook for coal.

* ARM Holdings: ARM Holdings, the provider of technology for the iPhone, reported a 14 percent rise in first-quarter profit, outperforming a weak semiconductor market as its most advanced chips were used in an increasing number of smartphones.

* METRO BANK: British lender Metro Bank Plc’s first-quarter underlying loss after tax narrowed, driven by strong growth in residential mortgages and commercial lending.

* N BROWN GROUP: British plus-size fashion retailer N Brown Group Plc expects a hit of about 3 million pounds ($4.31 million) on full-year profit before tax in the new financial year, and said trading so far has been subdued.

* RANDGOLD RESOURCES: Randgold Resources has entered a joint venture in the Democratic Republic of Congo with a company controlled by Israeli billionaire Dan Gertler and a state miner, the company’s chief executive said on Tuesday.

* STANDARD LIFE: Indian mortgage lender Housing Development Finance Corp said on Tuesday it plans to list up to 10 percent of its life insurance joint venture with Britain’s Standard Life Plc in an initial public offering (IPO).

* HSBC: Battling against sceptical Western investors, HSBC, is on a mission to explain why its push into a slowing China is good for the global bank’s future growth.

* UK BANKS: The Bank of England is too optimistic about being able to close big banks smoothly if they run into trouble and lenders should hold far more capital to keep the financial system safe, the architect of a major banking reform said on Tuesday.

* UK FCA: British finance minister George Osborne said he would give parliament the right to veto future appointments to run the country’s Financial Conduct Authority, which has sweeping powers over the banking industry.

* UK STEEL: Managers at Tata’s Port Talbot steelworks have been briefed about a potential management buyout plan, Sky News reported on Tuesday, citing sources.

* INSURERS: Global insurers expect private equity to produce the highest returns in the next year and a quarter plan to increase allocations to the asset class, a Goldman Sachs Asset Management survey showed on Wednesday.

* SILVER: Silver rallied to an 11-month high on Wednesday, lifting gold for a second session and sending platinum to a fresh six-month top, as a softer dollar and optimism about the Chinese economy buoyed the white metal.

* OIL: Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed U.S. stockpiles rose last week.

* COPPER: London copper floated near a three-week high on Wednesday after a stream of encouraging signals on China’s economy and a revival in oil prices lifted sentiment towards commodities.


> Financial Times

> Other business headlines (Reporting by Noor Zainab Hussain and Rahul B in Bengaluru; Editing by Sunil Nair)

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