July 7, 2016 / 7:01 AM / 2 years ago

UPDATE 1-UK Stocks-Factors to watch on July 7

(Adds futures, company news items)

July 7 (Reuters) - Britain’s FTSE 100 index is seen opening up by 66-72 points, or 1-1.1 percent, on Thursday, according to spreadbetters at CMC and IG, with futures up 0.85 percent ahead of the cash market open.

* The UK blue chip index closed down 1.3 percent on Wednesday led lower by retail and property-related stocks, which extended losses made after Britons voted to leave the European Union, and by a decline in energy stocks as oil prices slipped.

* MARKS AND SPENCER: British retailer Marks & Spencer on Thursday reported a worse-than-expected fall in quarterly underlying sales in its clothing division, reflecting a weak market, price cuts and fewer promotions.

* AB FOODS: Associated British Foods upgraded its earnings guidance on Thursday, reversing a previous forecast for a decline this year, after being buoyed by an improvement in its sugar business and the weaker pound in the third quarter.

* BOVIS HOMES: British builder Bovis said it was too soon to assess the impact of the Brexit vote on the housing market as it reported its reservation rate, where buyers pay a fee to take a property off the market, was flat in the first half of the year.

* SPORTS DIRECT: British retailer Sports Direct posted a worse-than-expected 15 percent drop in annual profit on Thursday, blaming tough conditions on the high street and negative publicity about its working practices.

* GREAT PORTLAND: Great Portland Estates, a central London property and investment company, said it expected the Brexit vote to hit economic growth and confidence in the British capital, taking a toll on commercial property markets.

* BARCLAYS: The U.S. Commodity Futures Trading Commission ordered Barclays Plc to pay $560,000 on Wednesday, saying the bank failed to submit accurate reports on large traders’ positions for physical commodities swaps.

* ABERDEEN ASSET MANAGEMENT: Late on Wednesday, Aberdeen Asset Management said withdrawals from its 3.2 billion pound UK Property Fund which it had received before 1100 GMT would face a 17 percent dilution levy, and that it would not fulfil later orders. It expected to re-open the fund at 1100 GMT on Thursday.

* RYANAIR: German investigators and customs authorities have searched several Ryanair bases and the homes of Ryanair pilots, as part of a probe into tax evasion by two employment agencies through which pilots are employed, prosecutors and pilot representatives said on Wednesday.

* UK BANKS: Stress in the UK banking system has intensified since Britain’s vote to leave the European Union, with the premium banks charge to lend each other short-term sterling funds doubling to its highest level in four years.

* TATA STEEL/UK: The British government’s offer of financial aid to potential buyers of Tata Steel’s UK assets is still on the table, business minister Anna Soubry said on Wednesday, despite Britain’s shock vote last month to leave the European Union.

* CANADA LIFE: Canada Life Ltd said on Wednesday it was suspending its property funds, becoming the sixth firm this week to do so.

* AMAZON UK: Online retailer Amazon has not seen a dip in sales at its British business in the days after the country voted to leave the European Union, its UK boss said on Wednesday.

* BANK OF ENGLAND: As Britain struggles with political chaos following its vote to leave the European Union, central bank governor Mark Carney has stepped into the breach to manage the economic fallout.

* BRITAIN ECONOMY: France and Britain were vying for fifth place on the list of the world’s biggest economies on Wednesday, with France nudging ahead after a renewed slump in the pound in the wake of the Brexit vote, Reuters calculations showed.

* BRITAIN HEDGEFUNDS: Two British hedge fund firms out of 67 surveyed by data provider Preqin are considering moving operations out of the country after the vote to leave the European Union.

* COPPER: London copper futures edged higher on Thursday, snapping three days of declines, in the wake of strong U.S. economic data, although indications of slow demand kept a lid on gains after inventories of the industrial metal touched a five-month high.

* OIL: Oil prices rose in early trading on Thursday, supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.

* EX-DIVS: Burberry Group Plc and Next Plc will trade without entitlement to their latest dividend pay-out on Thursday, trimming 1.05 points off the FTSE 100 according to Reuters calculations.


> Financial Times

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

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