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UPDATE 1-UK Stocks-Factors to watch on May 9
May 9, 2017 / 6:48 AM / 7 months ago

UPDATE 1-UK Stocks-Factors to watch on May 9

(Adds company news, futures)

May 9 (Reuters) - Britain’s FTSE 100 index is seen opening 1 point higher on Tuesday, according to financial bookmakers, with futures up 0.2 percent ahead of the cash market open.

* MICRO FOCUS INTERNATIONAL: Micro Focus International said software revenue at Hewlett-Packard Enterprise, the U.S. company it is buying, fell around 10 percent in the last quarter, which it said was disappointing but not unusual given the degree of change in the business.

* HISCOX: Lloyd’s of London underwriter Hiscox has decided to establish a new EU subsidiary in Luxembourg to underwrite its retail business in Europe following Britain’s vote to leave the European Union, it said on Tuesday.

* GLENCORE: Glencore said on Tuesday it has begun a sale process for its Tahmoor coking coal mine ahead of plans to halt operations next year, adding to a growing number of collieries on the block in Australia.

* DIAGEO: Diageo, the world’s largest spirits company, stood by its medium-term sales and profit targets on Monday, saying the year has progressed well.

* CO-OPERATIVE: The Co-operative Bank is set to admit that a sale of its business has faltered, increasing the chances that its American hedge fund owners will have to plough more capital into the bank, The Times reported on Tuesday. bit.ly/2pt6bhJ

* OIL: Oil prices rose on Monday in volatile trading, bolstered by statements from major oil-producing countries suggesting that OPEC and non-OPEC supply cuts could be extended into 2018.

* GOLD: Gold prices inched up on Tuesday, but remained near seven-week lows hit in the previous session as safe-haven demand ebbed in the wake of France’s presidential election.

* The UK blue chip index closed down 0.1 percent at 7,291.17 points on Monday, outpacing softer European markets following a widely expected win for centrist Emmanuel Macron in the French presidential election.

* 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 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 Harish Bhaskar; Editing by Sherry Jacob-Phillips)

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