May 3, 2016 / 6:31 AM / 2 years ago

UPDATE 2-UK Stocks-Factors to watch on May 3

May 3 (Reuters) - Britain’s FTSE 100 index is seen opening flat on Tuesday, according to financial bookmakers, with futures up about 0.3 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK blue chip index ended down 1.3 percent at 6,241.89 points on Friday, hit by a fall in the shares of Royal Bank of Scotland and airline IAG.

* HSBC: HSBC reported a smaller-than-expected 14 percent drop in quarterly profit, as a surge in revenue at its commercial banking unit partly offset the weak trading business caused by the grim global market environment early in the year.

* BP: The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill.

* ABERDEEN: British fund firm Aberdeen Asset Management posted a 40 percent fall in first-half underlying pre-tax profit, hit by a broad slump in emerging markets.

* AVIVA: Insurer Aviva said it had purchased an additional 23 percent share in Aviva Life Insurance Company India Limited from joint venture partner Dabur Invest Corp.

* BREXIT: A British vote to leave the European Union could put 250 billion pounds ($367 billion) of trade at risk, both with EU members and with the more than 50 countries that have free-trade agreements with the EU, campaigners to remain said on Tuesday.

* COPPER: London copper slipped below $5,000 a tonne on Tuesday, easing after last week’s gains as markets reopened following a long weekend, while a debt-fuelled pick-up in China’s economy encouraged cautious optimism over future demand.

* OIL: Oil prices rose on Tuesday as the dollar slipped to an 18-month low against the yen, potentially spurring fuel demand, but gains were restricted by rising Middle East output that renewed concerns of a global supply overhang.


> Financial Times

> Other business headlines (Reporting by Aastha Agnihotri in Bengaluru; Editing by Sherry Jacob-Phillips)

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