July 22, 2019 / 7:00 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on July 22

(Adds company news items, futures)

July 22 (Reuters) - Britain’s FTSE 100 index is seen opening 2 points lower at 7,507 on Monday, according to financial bookmakers, with futures up 0.07% ahead of the cash market open.

* METRO BANK: Metro Bank confirmed on Monday it was in talks over the sale of a loan portfolio, the latest step in efforts to shore up its capital base after an accounting error earlier in the year sparked a slide in its shares.

* PETRA DIAMONDS: Petra Diamonds Ltd said on Monday it expects production for the full year 2020 to be below current year’s output of 3.9 million carats, and forecast lower capital spending for next year.

* SThree: Recruiter SThree Plc posted an 18% rise in half year pretax profit, bolstered by strong international hiring as it battles a significant slowdown in its British home market.

* STAFFLINE: Activist investor Cat Rock Capital has cut its stake in Staffline Group Plc by more than half, an official filing showed on Monday, less than a month after the British recruiter swung to a 2018 loss as it booked a charge for potential fines for underpaying workers.

* STANDARD CHARTERED: The head of the British parliament’s Work and Pensions Committee has written to the chair of Standard Chartered Plc’s remuneration committee questioning the bank’s executive pension pay levels after more than a third of shareholders voted against its directors’ remuneration policy.

* BRITISH AIRWAYS: British Airways suspended flights to Cairo for seven days starting Saturday as a precaution to allow for an assessment of security there, the airline said in a statement.

* GOLD: Gold prices gained on Monday following a steep fall in the previous session as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains.

* OIL: Oil prices rose on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the Middle East and after Libya reported the shut down of its largest oil field.

* The UK blue chip index closed 0.2% higher on Friday as bolstered hopes of a U.S. interest rate cut stoked risk appetite, though the index’s advances were reined in after political turmoil in Italy triggered a broad sell-off in bank stocks.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Samantha Machado in Bengaluru)

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