July 25, 2018 / 6:56 AM / 2 months ago

UPDATE 1-UK Stocks-Factors to watch on July 25

(Adds company news items and futures)

July 25 (Reuters) - Britain’s FTSE 100 index is seen opening 4 points lower at 7,705 on Wednesday, according to financial bookmakers, with futures down 0.26 percent ahead of the cash market open.

* VODAFONE: Vodafone reported a slowdown in first-quarter organic service revenue on Wednesday, with tough trading in Italy and Spain taking the shine off the final set of results delivered by outgoing boss Vittorio Colao.

* ITV: ITV ITV.L, Britain’s biggest free-to-air commercial broadcaster, hailed a “fantastic” performance on air and online in its first half, with the World Cup and “Love Island” helping revenue to rise 8 percent to 1.59 billion pounds.

* TULLOW OIL: Africa-focused Tullow Oil will use its first-half free cash flow of $401 million to pay down debt and invest rather than pay a dividend, it said on Wednesday, after having raised the possibility of a return to payouts.

* 3I: Private equity fund 3i reported a net asset value of 760 pence for the quarter ending June 2018 on Wednesday, up from 724 pence in the year ending March 2018.

* WIZZ AIR: Budget airline Wizz Air trimmed its full-year capacity growth forecast to 18 percent from 20 percent, as it expects disruptions related to European air traffic control issues to continue into autumn amid rising fuel prices.

* INFORMA: British event organiser Informa Plc on Wednesday raised its cost savings target from its deal to buy rival UBM Plc and reported a 3.3 percent rise in first-half adjusted profit, as it begins to benefit from the acquisition.

* INDIVIOR: Indivior said on Wednesday the impact from the launch of a generic version of its opioid addiction treatment “could be materially higher” in 2018, as the British drugmaker posted a second straight drop in quarterly profit.

* BRITAIN REGULATOR: Britain’s financial watchdog said it was proposing a basic interest rate for older cash savings accounts because the market was not working well for longstanding customers.

* BHP: The world’s largest copper mine, BHP’s, Escondida in Chile, said on Tuesday it had made a final offer in talks with the union representing its rank-and-file workers that includes a beefed up contract signing bonus and a 1.5 percent increase in wages.

* METRO BANK: British lender Metro Bank said on Tuesday it would raise about 300 million pounds ($394 million) through a share placing and reported higher first-half underlying pretax profit, setting it on track for its second full year of profitability.

* LENTA: Russian food retailer Lenta expects positive free cash flow next year, the company told investors on Tuesday.

* BRITAIN-INSURANCE: Brussels, Athens and Piraeus are among cities London insurance brokers could consider for European Union subsidiaries, with time running out to plan for a hard Brexit, a trade body said on Wednesday.

* GOLD: Gold prices were little changed on Wednesday as the dollar held steady ahead of a meeting between the U.S. and European Commission presidents to discuss trade-related issues.

* OIL: Oil prices rose for a second day on Wednesday after industry group data showed U.S. crude inventories fell more than expected last week, easing worries about oversupply that had dragged on markets in recent sessions.

* The UK blue chip FTSE 100 index ended the session up 0.7 percent at 7,709.05 points on Tuesday, as banks and mining companies rallied, joining in with a broader rise across European stocks as sectors bruised by trade uncertainty regained some ground.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Siju Varghese)

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