February 28, 2017 / 7:59 AM / 9 months ago

UPDATE 1-UK Stocks-Factors to watch on Feb 28

(Adds company news items, futures)

Feb 28 (Reuters) - Britain’s FTSE 100 index is seen opening up about 5 points on Tuesday, according to financial bookmakers, with futures up 0.2 percent ahead of the cash market open.

* The UK blue chip index closed 0.1 percent higher at 7,253.00 on Monday, helped by earnings updates and weak sterling, although motor insurers were hit by a regulatory change that could lead to higher payouts.

* SHELL: A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy’s Eni to lift the temporary seizing of a long-disputed oilfield, a judge said on Monday.

* SHELL: Royal Dutch Shell is unlikely to participate in new oil-sands projects as it looks to control costs amid an austere crude oil environment, Bloomberg reported on Monday, citing an interview with Chief Executive Ben Van Beurden. (bloom.bg/2m2TOdy)

* VIRGIN MONEY:Virgin Money Holdings Plc reported resilient demand following Britain’s vote to leave the European Union, helping the bank to a 33 percent rise in full-year underlying pretax profit.

* BABCOCK: Babcock International remains on track to achieve its full-year targets, the British engineering support and outsourcing company said on Tuesday, noting that order intake remained strong.

* GKN: British engineering group GKN reported a 12 percent rise in adjusted pretax profit on Tuesday, just beating market expectations, and said it would grow ahead of both its main aerospace and autos markets in 2017.

* St. JAMES PLACE: British wealth manager St. James’s Place said on Tuesday posted full-year underlying profit before tax of 163.5 million pounds ($203.12 million), in line with previous year, after increased income from its funds under management.

* JLT: Insurance and reinsurance broker Jardine Lloyd Thompson Group reported a one percent rise in full-year underlying pre-tax profit, with investment in its U.S. speciality business crimping earnings.

* FRESNILLO: Precious metal miner Fresnillo Plc reported a more than six-fold jump in its profit for the year, boosted by higher production and metal prices and a weak Mexican Peso.

* INTERSERVE: Interserve reported an annual loss and suspended its dividend on Tuesday after the British support services and construction company booked a bigger-than-expected charge on its exit from the energy-from-waste sector.

* GREGGS: British baker Greggs on Tuesday beat forecasts with a 10 percent rise in 2016 profit, helped by an extension of its product range, new outlets and store refurbishments.

* BT: British telecoms regulator Ofcom said it planned to force BT to cut its bills by at least 5 pounds a month for those customers that only take a landline, seeking to protect elderly and vulnerable people who rely on the service.

* UNILEVER/KRAFT: U.S. food company Kraft Heinz Co is not targeting any other large deals for now after being snubbed by Unilever Plc because valuations in the sector are too high, major shareholder Warren Buffett told CNBC news on Monday.

* UK CONSUMER SENTIMENT: British consumer morale edged lower in February as rising inflation following last year’s Brexit vote made householders warier about the outlook for their finances, surveys showed.

* OIL: U.S. crude oil edged higher for a second day on Tuesday, underpinned by high compliance with OPEC’s production cuts even as the market remains anchored by rising U.S. production.

* BREXIT: The European Union will not pick an immediate fight with the City of London over its right to clear euro-denominated securities, EU officials said on Monday, as Britain prepares to trigger the process of quitting the bloc.

* UK SPENDING: The UK government is failing to recognize "clear warning signs" that public services are nearing a breaking point after six years of spending cuts, The Financial Times reported, citing a new report from the Institute for Government published on Tuesday. (on.ft.com/2mxXcuj)

* UK BUDGET: Chancellor of the Exchequer Philip Hammond will have an extra 29 billion pounds to allocate in next week's budget, the Times reported, citing a think tank. (bit.ly/2mor3sF)

* 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 Abhijith Ganapavaram in Bengaluru; Editing by Amrutha Gayathri)

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