June 13, 2018 / 6:56 AM / 9 months ago

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

(Adds futures, company news)

June 13 (Reuters) - Britain’s FTSE 100 futures were down 0.31 percent ahead of the cash market open on Wednesday.

* South African miner Tharisa on Wednesday deepened its exposure to Zimbabwe, saying it had bought a 26.8 percent shareholding in Karo Mining Holdings for $4.5 million.

* British leather handbag maker Mulberry said retail like-for-like sales fell 7 percent in the 10 weeks to June 2 as growth in international markets failed to offset weak demand at home.

* SAINSBURY: A British parliamentary committee will question the CEOs of the UK’s no. 2 supermarket Sainsbury’s and its third-biggest supermarket Asda ahead of their proposed combination, as scrutiny of the deal cranks up.

* DELIVEROO: Deliveroo will allow restaurants to use their own riders for orders placed through its takeaway food app, in a move which will boost the number of available outlets by 50 percent as it intensifies a battle with rival Just Eat.

* GLENCORE: Democratic Republic of Congo state miner Gécamines will drop legal proceedings to dissolve a copper and cobalt joint venture with a subsidiary of Glencore Plc after reaching a settlement with its partner that includes Gécamines getting a $150 million payment.

* WPP: Investor anger over the departure of WPP boss Martin Sorrell will burst into the open on Wednesday when shareholders tackle management over its handling of a boardroom battle that has gripped the British corporate scene.

* EXXON: Exxon Mobil Corp is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business.

* BT: S&P Global Ratings on Tuesday cut its credit rating on BT Group , citing strict oversight by British telecom regulator of its broadband networks.

* OIL: Oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary output cuts led by producer cartel OPEC could be loosened.

* GOLD: Gold prices were steady on Wednesday after falling to one-week lows the session before, with investors waiting for the conclusion of the U.S. Federal Reserve’s meeting later in the day for clues on the timing of future interest rate hikes.

* Losses in miners and oil majors pulled UK blue chip index down closing 0.4 percent lower at 7,703.81 on Tuesday.

* 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 topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Sangameswaran S in Bengaluru)

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