June 29, 2016 / 6:42 AM / 2 years ago

UPDATE 1-UK Stocks-Factors to watch on June 29

(Adds futures, Chemring, Greene King, Dixons Carphone)

June 29 (Reuters) - Britain’s FTSE 100 index is seen opening up about 60 points, or 1 percent, on Wednesday, according to financial bookmakers, with futures up 1.3 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed 2.6 percent higher on Tuesday at 6,140.39 points.

* DIXONS CARPHONE: British consumer electricals and mobile phone retailer Dixons Carphone met guidance with a 17 percent rise in full-year profit and said it expected to continue growing despite Britain’s vote to leave the European Union.

* GREENE KING: Greene King Plc cautioned that uncertainty arising from the UK’s decision to exit the EU would weigh on consumer sentiment, tacking on pressure on pub companies already grappling with intense competition for every pound in consumers’ pockets.

* CHEMRING GROUP: British defence contractor Chemring Group Plc, which has been struggling with defence budget cuts in its key markets, said Finance Director Steve Bowers would leave the company.

* BREXIT: European leaders told Britain on Tuesday to act quickly to resolve the political and economic confusion unleashed by its vote to leave the European Union last week, after the IMF said the uncertainty could put pressure on global economic growth.

* HOUSING: British house prices recorded modest growth this month, causing the annual rate of growth to pick up unexpectedly to a three-month high in June, figures from mortgage lender Nationwide showed on Wednesday.

* BANKS: Moody’s Investors Service cut its outlook on the UK banking system to ‘negative’ from ‘stable’ on Tuesday, and also lowered its outlook on some UK insurers and banks, citing the negative impact of the UK’s vote to leave the European Union.

* OIL: Oil rose on Wednesday as financial traders poured money back into commodities following the initial shock of Britain’s vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.


> Financial Times

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Reporting by Vidya L Nathan in Bengaluru, Editing by Sunil Nair

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