May 29, 2019 / 7:01 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on May 29

(Adds company news items, futures)

May 29 (Reuters) - Britain’s FTSE 100 index is seen opening 34 points lower at 7,235 on Wednesday, according to financial bookmakers, with futures down 0.67% ahead of the cash market open.

* AVEVA: British industrial software company AVEVA met market expectations with a 20% rise in full-year adjusted earnings on Wednesday and said it was confident it would meet its medium-term targets.

* NON-STANDARD FINANCE: Britain’s competition watchdog said on Wednesday it was considering whether Non-Standard Finance’s (NSF) hostile takeover of rival Provident Financial would result in a substantial lessening of competition.

* EXPERIAN: The world’s biggest credit check company Experian named independent non-executive director Mike Rogers as chairman on Wednesday, replacing Don Robert who announced his departure last year.

* TELEFORD: Telford Homes Plc on Wednesday posted record annual revenue as an increased focus on build to rent contracts helped it navigate a tough housing market in London that has squeezed margins and hit profit.

* HSBC: HSBC Holdings PLC plans to boost its Asia retail wealth management staff by about 300 by end of this year, with Europe’s biggest lender by assets sharpening its focus on Singapore to add to its presence in core markets of Hong Kong and China.

* GOLD: Gold prices steadied on Wednesday, as global economic concerns dented risk appetite but a strong dollar capped gains as it competed to get preference over bullion as a safe-haven bet.

* OIL: Oil prices fell on Wednesday on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support.

* The UK blue chip index closed was 0.1% lower as a drop in blue-chip tobacco stocks after a report showing declining cigarette volumes and losses in pharmaceutical giants was enough to offset gains in mining heavyweights and push London’s main stock index into the red on Tuesday.

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


> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar and Adil Bhat in Bengaluru)

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