March 20, 2018 / 7:52 AM / in a year

UPDATE 1-UK Stocks-Factors to watch on March 20

(Adds company news items and futures)

March 20 (Reuters) - Britain’s FTSE 100 index is seen opening 27 points higher on Tuesday, according to financial bookmakers with futures up 0.4 percent ahead of the cash market open.

* GKN: British engineering company GKN, target of a takeover bid, said on it had a plan in place to protect its pension scheme, as the issue emerged as the latest battleground between GKN management and hostile suitor Melrose.

* OCADO: British online supermarket Ocado on Tuesday reported quarterly retail revenue growth in line with its latest guidance, though trade in the final week of the period was dented by wintry weather.

* 888 HOLDINGS: British online gaming company 888 Holdings posted a rise in annual core earnings of 12 percent on Tuesday and said its trading so far this year was in line with its expectations, with average daily revenue 6 percent above the previous year.

* BELLWAY: British housebuilder Bellway Plc reported a 16.6 percent rise in first-half pretax profit on Tuesday as it sold more homes at higher prices.

* ENQUEST: North Sea-focused oil group EnQuest reported 2017 core profit of $303.6 million on Tuesday, slightly beating analysts’ expectations as it embarks on reducing its debt of around $2 billion helped by the ramp-up at its Kraken field.

* IQE: British chipmaker IQE Plc, whose technology is used in Apple Inc’s iPhone, posted an 18 percent rise in full-year pretax profit on Tuesday on strong sales of wafer, a semiconductor material.

* BRITAIN-EU: Britain and the European Union agreed on Monday to a transition period to avoid a “cliff edge” Brexit next year — though only after London accepted a potential solution for Northern Ireland’s land border that may face stiff opposition at home.

* CAMBRIDGE ANALYTICA: Britain’s data protection authority plans to seek a warrant to search the offices on Tuesday of London-based political consulting firm Cambridge Analytica, UK Information Commissioner Elizabeth Denham told Channel 4 News on Monday.

* FENNER: French tyre maker Michelin plans to buy British engineering company Fenner for 1.2 billion pounds ($1.7 billion) so that it can serve mining companies better and benefit from an industry recovery.

* MICRO FOCUS: FTSE 100 software group Micro Focus saw its 470-million-euro term loan B drop over 150 basis points in secondary trading on Monday, after its shares plunged by more than 40 percent following weaker than expected results.

* OIL: Oil prices edged up on Tuesday, lifted by tensions in the Middle East, although rising output in the United States and shaky stock markets put a lid on further gains.

* GOLD: Gold was firm on Tuesday, having recovered from over a two-week low hit in the previous session, as traders waited to gauge the path of U.S. monetary policy for the rest of the year from the two-day Federal Reserve meeting that kicks off later in the day.

* The UK blue chip index closed 1.7 percent lower at 7,042.93 on Monday, after Britain and the European Union agreed on a post-Brexit transition which boosted the sterling but weighed on the internationally exposed index.

* 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 * For Top News : (Reporting by Radhika Rukmangadhan in Bengaluru)

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