May 13, 2019 / 6:44 AM / a year ago

UPDATE 1-UK Stocks- Factors to watch on May 13

(Adds company news items and futures)

May 13 (Reuters) - Britain’s FTSE 100 index is seen opening 18 points higher at 7,221 on Monday, according to financial bookmakers, with FTSE 100 futures down 0.04% ahead of the cash market open .

* TBC BANK: Georgia’s largest retail lender TBC Bank Group said on Monday that first-quarter earnings surged 36.7%, the biggest jump in seven quarters, as its loan book grew on the back of a stable economy.

* DIGNITY: Britain’s Dignity Plc reported a worse-than-expected slump in underlying quarterly operating profit on Monday, as it provided services for fewer funerals.

* CENTRICA: Britain’s largest energy supplier Centrica Plc said on Monday it is facing a challenging trading environment due to a national price cap on energy bills, warmer-than-normal weather and falling UK natural gas prices.

* GLENCORE: Zambia’s Mopani Copper Mines plans to close two shafts at its Nkana mine in Kitwe, the Glencore-owned company said on Friday, a move that union sources said could affect more than 2,000 workers.

* INMARSAT: Investors in Inmarsat voted on Friday to sell the British satellite firm to a private equity-led consortium for $3.4 billion following a recommendation from the company’s board that the offer was fair and reasonable.

* OIL: Oil futures were mixed on Monday, with U.S. crude edging lower, as investors and traders fretted over global economic growth prospects amid a standoff in Sino-U.S. trade talks.

* GOLD: Gold prices dipped on Monday as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan, making the bullion expensive for buyers in world’s largest consumer — China.

* The UK blue chip index closed 0.1% lower on Friday with exporters following the U.S. dollar lower as hopes for a resolution to the U.S.-China trade dispute stoked appetite for riskier assets.

* For more on the factors affecting European stocks, please click on:


> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich & Uttaresh.V)

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