July 25, 2019 / 6:13 AM / 23 days ago

UK Stocks-Factors to watch on July 25

July 25 (Reuters) - Britain’s FTSE 100 index is seen down 2 points at 7,507 on Thursday, according to financial bookmakers.

* KINGFISHER: British home improvement retailer Kingfisher said on Wednesday its newly appointed chief executive officer, Thierry Garnier, would join the company on Sept. 25.

* METRO BANK: Metro Bank said on Wednesday it will start the process of recruiting a replacement for its founder and chairman Vernon Hill, months after an accounting error hammered its shares, left a hole in its balance sheet and spooked customers.

* TELECOM FINES: A government panel on Wednesday approved a combined penalty of 30.5 billion rupees ($442 million) on telecom operators Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Industries’ telecom unit Jio when it began operations in 2016, Indian media reported.

* COBHAM: British engineer Cobham Plc is to be acquired by U.S. private equity firm Advent International in a deal that would value it at about 4 billion pounds ($4.99 billion) including debt, the Financial Times reported, citing people close to the situation.

* RIO TINTO: Energy Resources Of Australia Ltd (ERA) said on Thursday that majority owner Rio Tinto had offered to help underwrite part of the cost of rehabilitating the Ranger Uranium Project in the Northern Territory.

* RYANAIR: Ryanair cabin crew in Portugal are set to strike for five days in August in a dispute over pay and conditions, the SNPVAC union said on Wednesday.

* DIAGEO: Talks over pay between Diageo Plc and two of its biggest Scottish unions fell apart on Wednesday, threatening the production of some the region’s most popular whiskies.

* TBC BANK: Georgian prosecutors charged TBC Bank Group’s chairman and his deputy on Wednesday with money laundering, a move the bankers said was absurd and damaged prospects for attracting investment to the country.

* METRO BANK RESULTS: Metro Bank’s, the British lender, said on Wednesday that customers had pulled 2 billion pounds ($2.5 billion) out of the lender this year following a major accounting error in January.

* ROLLS ROYCE: Rolls-Royce said on Wednesday that its discussions with Indra Sistemas SA, which had expressed interest in acquiring a majority stake in the British group’s Spanish business ITP Aero, have ended without agreement.

* EX-DIVS: SSE Plc will trade without entitlement to their latest dividend pay-out on Thursday, trimming 2.81 points off the FTSE 100 according to Reuters calculations

* The UK blue chip index closed 0.7% down at 7,501 as miners dragged the index owing to iron ore prices falling and luxury carmaker Aston Martin lsoing a quarter of its value.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Sangameswaran S in Bengaluru)

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