May 3, 2017 / 7:05 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on May 3

(Adds company news, futures)

May 3 (Reuters) - Britain’s FTSE 100 index is seen opening 13 points lower on Wednesday, according to financial bookmakers, with futures down 0.10 percent ahead of the cash market open.

* BREXIT: Britain will not be paying 100 billion euros to leave the European Union, Brexit minister David Davis said on Wednesday after the Financial Times reported that the EU was preparing to demand that amount.

* MITIE: Britain’s Mitie said on Wednesday it expected to writedown 40 million to 50 million pounds ($52 million to $64 million) and might restate its accounts for the year to March 2016 after an accounting review.

* DIRECT: British motor and home insurer Direct Line Insurance Group reported a 4.2 percent rise in gross written premiums in the first quarter, boosted by strong performance in its auto business, it said on Wednesday.

* JD: British pubs group JD Wetherspoon warned of “significantly higher” costs in the second half of the year and said it remained cautious, while reporting quarterly comparable sales growth of 4 percent.

* IMPERIAL: British tobacco company Imperial Brands reported lower half-year revenue and profit on Wednesday, excluding a benefit from the weak pound, as it was hurt by an industry slowdown and an investment programme.

* ITV: ITV, Britain’s biggest free-to-air commercial broadcaster, said Chief Executive Adam Crozier was stepping down after seven years in the role.

* MARKS: Marks & Spencer said it had appointed Jill McDonald, the boss of Britain’s largest bike seller Halfords, to run its clothing and home business, freeing its chief executive Steve Rowe to focus on the overall group.

* SAINSBURY: British supermarket Sainsbury’s on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year’s purchase of Argos, the general merchandise retailer.

* BARCLAYS: Barclays Chief Executive Jes Staley is involved in a dispute with private equity firm KKR & Co KKR.N, which is a client of the bank, the Wall Street Journal reported on Tuesday.

* EVRAZ: Evraz Plc, Russia’s No. 2 steelmaker, signed an agreement with Kinder Morgan Inc to supply about 250,000 metric tons of pipe to the U.S. pipeline company for the expansion of the Trans Mountain pipeline.

* ITV: Broadcaster ITV bought a majority stake in World Productions, the company behind the popular BBC series Line of Duty, for an undisclosed sum, The Times reported on Wednesday.

* OIL: Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output capped gains.

* COPPER: London copper dropped on Wednesday from a three-week high hit the session before as prices consolidated after failing to break technical resistance and given a lack of other drivers, traders said.

* GOLD: Gold prices fell to a three-week low on Tuesday, as demand for riskier assets drove stocks higher and the dollar hit a six-week peak against the yen.

* The UK blue chip index closed up 0.6 percent at 7,250.05 points on Tuesday, with well-received results from heavyweight BP helping to underpin gains in a positive start to the first trading day of the month.

* 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 Harish Bhaskar; Editing by Sunil Nair)

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