May 16, 2018 / 6:44 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on May 16

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May 16 (Reuters) - Britain’s FTSE futures were down 0.22 percent ahead of the cash market open on Wednesday.

* BURBERRY: British luxury group Burberry beat market forecasts with a 2 percent rise in full-year adjusted profit to 467 million pounds, as it embarks on a new chapter under designer Riccardo Tisci, the former Givenchy star appointed in March.

* MICRO FOCUS: Britain’s leading software company Micro Focus International said the signing of a $40 million licensing deal meant its six-month revenues would not fall by quite as much as originally feared.

* PADDY POWER BETFAIR: Paddy Power Betfair is in discussions regarding a potential combination of its U.S. business and fantasy sports company Fanduel to target the prospective U.S. sports betting market, the bookmaker said on Wednesday.

* CREST NICHOLSON: British housebuilder Crest Nicholson Holdings Plc said on Wednesday its full-year operating margin would be at the lower end of its prior forecast, as rising construction costs hurt pricing of its homes.

* MITCHELLS & BUTLERS: British pub operator Mitchells & Butlers Plc reported an 8 percent drop in first-half pretax profit on Wednesday, as margins continued to be weighed down by rising costs.

* CARILLION: Britain’s Financial Reporting Council (FRC) said on Wednesday it was investigating bankrupt construction firm Carillion’s contract accounting, reverse factoring, pensions, goodwill and going concern as part of its probe.

* LONMIN: Britain’s Competition and Markets Authority said it will examine whether a takeover of Lonmin by South Africa’s Sibanye-Stillwater would reduce competition, knocking shares in both mining firms.

* PADDY POWER BETFAIR: British bookmaker Paddy Power Betfair Plc is close to buying U.S. daily fantasy sports company FanDuel, according to a report on Tuesday by the Legal Sports Report.

* AVIVA: Aviva customers who could not access their accounts or missed pension payments due to a bungled IT upgrade were promised compensation.

* OIL: Oil prices fell on Wednesday, weighed down by ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.

* GOLD: Gold prices recovered slightly on Wednesday on short-covering after sliding to the lowest level this year in the previous session on surging U.S. bond yields and a stronger dollar.

* The UK blue chip index closed about 0.2 percent higher at 7722.98 on Tuesday, as strong performance by the heavyweight energy sector boosted the 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 Sangameswaran S in Bengaluru)

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