September 14, 2016 / 6:31 AM / in 2 years

UPDATE 2-UK Stocks-Factors to watch on Sept. 14

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Sept 14 (Reuters) - Britain’s FTSE 100 index is seen opening up 23 to 25 points, or 0.3 to 0.4 percent, on Wednesday, according to financial bookmakers, with futures trading 0.3 percent higher ahead of the cash market open.

* The UK blue chip index closed down 0.5 percent at 6,665.63 points on Tuesday, extending its decline after a steep drop in the previous session as oil stocks came under pressure and Associated British Foods was hit by broker downgrades.

* GALLIFORD TRY: Building and construction group Galliford Try said sales rates and prices at its housing division have risen since Britons voted to leave the European Union, echoing sentiments from several other British builders.

* ASSOCIATED BRITISH FOODS: Snack foods company B&G Foods Inc is in talks to acquire ACH Food Companies Inc, the producer of Mazola cooking oil, from food supplier and retailer Associated British Foods Plc, according to people familiar with the situation.

* VODAFONE: Vodafone is planning an up to $3 billion equity infusion in its India unit to replace debt as competition intensifies with the entry of Reliance Jio Infocomm and bidding for spectrum gets underway in less than a month, the Economic Times reported on Wednesday.

* TATA STEEL: A government plan to save Tata Steel's UK business by changing pensions law has been shelved, according to industry figures briefed on the matter, dealing a blow to efforts to support the troubled sector, the Financial Times reported on Tuesday.

* WPP: The chief executive of the world’s largest advertising company WPP told Reuters that Argentina’s new government has made “significant” reforms in a short period of time and his group would like to make more acquisitions and investments in the country.

* PURE GYM: Fitness club chain Pure Gym Group Plc said on Wednesday it would raise about 190 million pounds ($251 million) in an initial public offering of its stock on the London Stock Exchange.

* MARTINCO: British lettings agent MartinCo Plc said there were signs of a recovery in transactions after a short-lived downturn in the wake of Britain’s June 23 vote to leave the European Union.

* COPPER: London copper hovered close to three-week highs on Wednesday after brighter economic indicators in the United States and China offered more evidence of a global recovery, but expectations of growing supply kept prices in check.

* OIL: Oil prices rebounded in Asian trade on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stocks.

* UK ENERGY: An obstacle blocking approval for the Hinkley Point nuclear reactor was lifted as ministers appeared to change the decision criteria, the Times reported on Wednesday.

* BANKING: The world’s top bank regulators on Tuesday defended reforms they plan to finalise this year, saying the aim was not to raise capital levels but rather to make lenders use similar yardsticks to assess risk. nL8N1BP3MC

* LONDON STOCK EXCHANGES: China’s central bank is preparing the groundwork for a proposed link between the Shanghai and London stock exchanges that will allow investors on one bourse to invest in the other, the Securities Times reported Wednesday.

* BREXIT: Britain will look to German, French and other European industries to reinforce its case that open trade with the European Union will be mutually beneficial after it has left the bloc, Brexit minister David Davis said on Tuesday.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit * For Top News : (Reporting by Pranav Kiran in Bengaluru; Editing by Sunil Nair and Amrutha Gayathri)

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