February 14, 2017 / 7:54 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on Feb 14

(Adds futures, companies items)

Feb 14 (Reuters) - Britain’s FTSE 100 index is seen opening down 3.9 points on Tuesday according to financial spreadbetters, with futures down 0.2 percent ahead of the cash market open.

* The blue-chip FTSE 100 index ended 0.3 percent higher on Monday, at 7,278.92 points after hitting an intra-day high of 7,298.47, the highest level since mid-January, as a sharp rally in basic resources stocks on the back of stronger metals prices supported the broader market. It now stands some 75 points below its record peak scaled on Jan. 16.

* ROLLS-ROYCE: Rolls-Royce posted a record reported loss of 4.6 billion pounds ($5.8 billion) on Tuesday as a fine to settle bribery charges and the collapse in the pound from Brexit capped a difficult few years for the British aero engine maker.

* NEXT PLC: British clothing retailer Next said its chairman John Barton will retire in August and be succeeded by Michael Roney.

* ACACIA MINING: Tanzanian gold producer Acacia Mining said 2017 production would be lifted 40 percent by a mine life extension at Buzwagi following a strong 2016 when EBITDA (earnings before interest, tax, depreciation and amortisation) more than doubled.

* KUMBA IRON ORE: Kumba Iron Ore ltd, a unit of Anglo American Plc , said on Tuesday its 2016 earnings more than doubled, partly on higher prices, but held off on paying a dividend because of a volatile market outlook.

* TUI: European tour operator TUI reported a narrower loss for the first-quarter, although its German TUIFly unit was hit by costs of around 22 million euros ($23 million) due to staff calling in sick after a new strategy was announced in October. TUI agreed to sell its specialist holiday arm Travelopia to KKR at an enterprise value of 325 million pounds ($407 million).

* LLOYDS: Lloyds Banking Group is close to selecting Berlin as its base to build out its European operations as it tries to secure market access to the European Union when Britain leaves the bloc, according to sources familiar with the plans.

* GLENCORE: Glencore has increased its hold on Democratic Republic of Congo’s copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for a total of $960 million.

* GOLD: Gold prices edged up on Tuesday as the dollar crept lower, with investors turning their attention to testimony from U.S. Federal Reserve Chair Janet Yellen later in the day for hints on the central bank’s interest rate strategy.

* COPPER: Copper held on to hefty overnight gains on Tuesday amid supply concerns from two of the world’s biggest sources of the metal.

* 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 topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)

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