October 1, 2014 / 5:58 AM / 4 years ago

UK Stocks-Factors to watch on October 1

(Adds futures, further company news)

LONDON, Oct 1 (Reuters) - Britain’s FTSE 100 index is seen opening lower on Wednesday, with December futures on the index down 0.3 percent at 0623 GMT. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed down 23.88 points, or 0.4 percent, at 6,622.72 points on Tuesday.

* J SAINSBURY - The supermarket cut its full-year sales forecast on Wednesday after trading fell sharply in the second quarter, dragged down by competition in a UK grocery market growing at its slowest pace for more than 20 years.

* TESCO - The world’s third-largest retailer said Britain’s financial watchdog had started a full investigation into the company in the wake of an accounting scandal which wiped 3 billion pounds ($4.86 billion) from the British grocer’s stock market value last month.

Shares in the firm fell 0.9 percent to an 11-year low on Tuesday, with the Financial Times attributing the move to speculation about a possible rights issue.

* LLOYDS BANKING GROUP - Investors are joining forces to sue Britain’s biggest retail bank Lloyds and five former executives, alleging they were misled over an ill-fated deal in 2008 they say wiped about 6 billion pounds ($10 billion) off the total value of shares.

* BAE SYSTEMS - BAE Systems on Wednesday announced a private placement of guaranteed notes worth a total $1.1 billion.

* IGAS, EGDON RESOURCES - Britain’s first round of shale gas licensing in six years is attracting solid interest from investors, according to business and energy minister Matt Hancock, who says the country has a duty to use fracking to secure its future energy supply.

* Stocks trading ex-dividend, namely British Land, Intertek Group and Wm Morrison Supermarkets, will take 0.66 points off the UK benchmark on Wednesday.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting By Francesco Canepa, editing by Tricia Wright)

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