May 2, 2017 / 7:03 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on May 2

(Adds company news, futures)

May 2 (Reuters) - Britain’s FTSE 100 index is seen to open 24.6 points higher on Tuesday, according to financial bookmakers, with futures up 0.2 percent ahead of the cash market open.

* BP: British oil major BP beat analysts’ first-quarter earnings expectations on Tuesday as higher oil prices and production helped improve its bottom line.

* SHAWBROOK: British bank Shawbrook Group’s independent directors said on Tuesday that they could not recommend a buyout bid from a consortium of private equity firms.

* LLOYDS: Lloyds Banking Group said on Tuesday that James Lupton, chairman of investment bank Greenhill’s European arm, will be joining its board.

* ABERDEEN: Aberdeen Asset Management reported on Tuesday a rise in first-half revenues, boosted by market and currency gains, while the pace of outflows from its funds slowed.

* BOVIS: British housebuilder Bovis, which was subject to two failed buyout bids earlier this year, said it would take a 2.8 million-pound hit from the talks and a review conducted in February after the firm warned on profits.

* ASTRAZENECA: The U.S. Food and Drug Administration on Monday granted accelerated approval to AstraZeneca Plc’s immuno-oncology drug to treat a type of bladder cancer in patients whose disease progressed following chemotherapy.

* LLOYDS: British bank Lloyds Banking Group denied claims of a credit card 'time bomb' and shrugged off concerns that its practice of booking revenue upfront from customers who have interest-free periods on their credit cards, The Times reported on Tuesday.

* BP: BP plans to complete by mid-2018 the Georgian section of a $40-billion strategic pipeline bringing Caspian gas from Azerbaijan into Europe, the British energy company’s country manager for Georgia said.

* BHP: Elliott Management representatives will meet with BHP Billiton’s shareholders in Australia this week as the activist investor pushes for strategic changes at the world’s biggest miner, two sources familiar with the matter said on Monday.

* BP: Two crude distillation units are expected back to normal production levels by Friday night at BP Plc’s 413,500 barrel per day (bpd) Whiting, Indiana refinery, sources familiar with plant operations said on Friday.

* OIL: Oil prices edged down on Monday on worries that OPEC-led production cuts may not significantly tighten an oversupplied market in the short term despite talk of extending them.

* The UK blue chip index closed 0.5 percent lower at 7,203.94 points, on Friday, as disappointing results weighed on banking heavyweight Barclays , with UK blue chips sealing their biggest one-month fall since November 2016.

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


> Financial Times

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