May 23, 2016 / 6:42 AM / 2 years ago

UPDATE 2-UK Stocks-Factors to watch on May 23

(Adds company news items, updates futures)

May 23 (Reuters) - Britain’s FTSE 100 index is seen opening up 7 points, or 0.1 percent, on Monday, according to financial bookmakers, with futures up 0.1 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed 1.7 percent higher on Friday, with bottling company Coca-Cola HBC rallying on the prospects of a margin recovery and commodities stocks partially recovering after slumping in the previous two straight sessions.

* SABMILLER: Brewer Anheuser-Busch InBev is set to win conditional EU approval for its $100 billion-plus takeover of SABMiller after agreeing to substantial asset sales, three people familiar with the matter said on Friday.

* BP: The surprise departure of BP’s exploration boss has turned the spotlight on an oil search strategy that, after years of spending cuts, is focusing mainly on expanding existing fields rather than venturing expensively into the unknown.

* RECKITT BENCKISER: Australia’s competition watchdog on Monday filed an appeal against the A$1.7 million ($1.2 million) fine a court ordered British consumer goods giant Reckitt Benckiser pay for misleading consumers on painkiller marketing.

* ANGLO AMERICAN: China Molybdenum (CMOC) said Chinese regulators have asked it to disclose how it will finance its $1.5 billion acquisition of Anglo American Plc’s niobium and phosphates business in Brazil.

* MARKS & SPENCER: The new boss of British retailer Marks & Spencer will deliver some uncomfortable truths to investors next week: turning around its clothing business will require yet more costly change and could squeeze short-term profits.

* LEGAL & GENERAL: Legal & General Group said it has bought a 3 billion pound ($4.35 billion) UK annuity portfolio from Dutch insurer Aegon <NV AEGN.AS>.

* SSE: British utility SSE and partners approved plans to build a 2.6 billion pound ($3.8 billion) offshore wind farm in Scotland, reaffirming its commitment to large infrastructure deals after recently shelving two planned wind developments.

* MITIE: Outsourced services provider Mitie Group Plc said it expected to see modest growth this year and set out intentions to return surplus cash investors via a 20-million-pound ($29 million) buyback over the period.

* UK REFERENDUM: Britain could sink into a year-long recession if it votes to leave the European Union, finance minister George Osborne said in his latest attempt to focus voters on the potential hit to the economy from an “Out” vote.

* UK STEEL: Excalibur Steel, a management buyout group interested in purchasing Tata Steel’s British steel-making operations, is ready to lend its support to rival bidder Liberty House, two industry sources told Reuters on Sunday.

* UK HOUSING: British house prices would fall 10 percent to 18 percent if the country voted to leave the European Union, finance minister George Osborne said on Friday.

* OIL: Oil prices slipped in Asian trade on Monday on a strong dollar and signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit * BridgeStation: view story .134 For more information on Top News visit (Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)

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