August 23, 2016 / 6:06 AM / 2 years ago

CORRECTED-UK Stocks-Factors to watch on August 23

(Corrects first bullet to say index closed down 0.4 percent at 6,828.54 points)
    Aug 23 (Reuters) - Britain's FTSE 100 index is seen opening up 24 to
28 points, or 0.4 percent, on Tuesday, according to financial bookmakers.
    * The UK blue chip index closed down 0.4 percent at 6,828.54 points on
Monday, with commodity-related stocks leading the market lower following a drop
in metals and crude oil prices. 
    * RANK GROUP: Casino operator Rank Group Plc said on Tuesday
Britain's decision to leave the European Union would have little or no direct
impact on its performance, days after it dropped its joint bid to buy bookie
William Hill Plc. 
    * BARCLAYS: Barclays Plc has mandated itself as sole bookrunner and
structuring adviser for a U.S. dollar Reg S Additional Tier 1 offering.
    * RBS: Lawyers for Royal Bank of Scotland (RBS) sat down with
representatives of angry shareholders to broker an end to what may end up being
the costliest case in British legal history. The meeting was convened to
persuade investors to drop claims they were misled into stumping up 12 billion
pounds ($16 billion) just a few months before the bank's bailout in 2008.
    * ROYAL DUTCH SHELL: Tanzanian president John Magufuli ordered officials on
Monday to speed up long-delayed work on a planned liquefied natural gas (LNG)
plant, saying implementation of the project had taken too long. BG Group,
recently acquired by Royal Dutch Shell, alongside Statoil,
Exxon Mobil and Ophir Energy, plan to build a $30
billion-onshore LNG export terminal in partnership with the state-run Tanzania
Petroleum Development Corporation (TPDC) by the early 2020s. 
    * BP: BP Plc's 413,500 barrel per day Whiting, Indiana refinery
returned to normal production by Monday morning for the first time since late
July, sources familiar with plant operations said. 
    * NATIONAL GRID: Britain's power grid operator National Grid has
cancelled a tender in which companies vie to be paid not to use electricity at
peak times in the coming winter so power can be diverted to households, citing a
lack of willing participants. 
    * BREXIT: New Zealand is keen to forge a free-trade agreement with Britain
when it leaves the European Union, British Foreign Secretary Boris Johnson said
on Monday following a meeting with his New Zealand counterpart in London.
    * UK EXECUTIVE PAY: Plans by British Prime Minister Theresa May to give
shareholders more powers to curb top executives' pay could prove unpopular with
some big investors, and some industry analysts say they may have little impact.
BP <BP.L > and WPP were among major companies to face high-profile
revolts at shareholders' meetings this year, reflecting broader anger at
inequality that helped persuade Britons to vote to leave the European Union in
    * CINVEN: Cinven Ltd said on Monday it agreed to acquire BioClinica Inc from
two other buyout firms, Water Street Healthcare Partners and JLL Partners, in a
deal that sources said values the U.S. clinical trials company at around $1.4
billion, including debt. 
    * ERNST & YOUNG: Ernst & Young LLP cannot require its employees to
give up their rights to pursue work-related claims together, a federal appeals
court ruled on Monday, giving a major boost to the U.S. National Labor Relations
Board's campaign against so-called class action waivers. 
    * OIL: Oil prices fell over 1 percent on Tuesday, with Goldman Sachs warning
that August's price rally had been overdone and that a proposed oil production
freeze at current near-record levels would not help rein in an oversupplied
    * METALS: London copper edged higher on Tuesday on support from a softer
U.S. dollar, but the metal was still hanging near six-week lows as swelling
supply kept a tight lid on its price prospects. 
    * NORTH SEA CRUDE: North Sea Brent crude oil differentials fell on Monday,
while Forties held broadly steady after a flurry of bids from Petroineos, and
cheap tanker rates helped an excess of unwanted crude persist. 
    * STERLING: Sterling gained on Monday, after registering its strongest week
in five against the dollar as a run of robust economic data suggested Britain's
economy was faring better than expected following its vote to leave the European
    * SPORTS DIRECT: Sports Direct has been heavily criticised by its own
shareholders and corporate governance experts after it emerged that the
sportswear retailer pays an obscure company owned by Mike Ashley's brother to
deliver online orders outside the UK, the Guardian reported on Monday.
    * UK DEFICIT: Theresa May and Chancellor Philip Hammond have both scrapped
George Osborne's plan to abolish the budget deficit by 2020, giving them room to
hike borrowing - potentially by as much as 50 billion pounds in the next
financial year, the Telegraph reported on Monday.
    * FINDEL: The former Argos and Homebase boss Terry Duddy has been approached
about taking over the chairmanship of Findel Plc, the mail order
retailer, as it seeks to resolve a row over the influence of Mike Ashley, the
tycoon whose sports goods chain is its biggest shareholder, Sky News reported on
    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets
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 (Reporting by Pranav Kiran in Bengaluru)
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