UK Stocks-Factors to watch on Fri Jan 27

LONDON Jan 27 (Reuters) - Britain's FTSE 100 is seen falling on Friday, tracking weakness on Wall Street and retreating from fresh six-month highs, as investors awaited the outcome of Greece's debt talks and U.S. GDP data.

The UK benchmark looks set to shed 30 to 31 points, or 0.5 percent, according to financial bookmakers, after it advanced 72.20 points, or 1.3 percent, to 5,795.20 on Thursday, its highest close since July 29, but just short of the 5,800 resistance level.

Greece and its private creditors made progress in talks on restructuring its debt on Thursday, both sides said, and they will continue negotiating on Friday with the aim of sealing an agreement within a few days.

Athens needs a deal quickly to avert a chaotic default when a major bond comes due in March. Greece's creditors are demanding that the European Central Bank contribute to a deal to put the country's messy finances back on track.

U.S. growth figures, out at 1330 GMT, are the main focus in terms of macro data on Friday, with economists estimating GDP grew at a 3.0 percent annual pace in the October-December period, according to the median forecast in a Reuters poll.

That would be a step-up from the third quarter's 1.8 percent rate and it would be the quickest pace since the second quarter of 2010.

Other data includes the final reading of the January Reuters/University of Michigan consumer sentiment survey, due at 1455 GMT.

No significant UK economic data is scheduled for release on Friday.

* GLOBAL MARKETS-Asian stocks pause after rallying on Fed

* US STOCKS-January rally interrupted as buyers pull back

* Nikkei set for third weekly gain, Nintendo sinks

* U.S. debt prices climb on Fed stance, Europe fears

* FOREX-Yen inches up on month-end exporter buying

* Gold dips after rally; heads for 4th week of gains

* Copper falls from 4-month high; heads for weekly gain

* Brent rises above $111 on demand growth hopes, Iran

UK stocks to watch on Friday are:

ROYAL BANK OF SCOTLAND

RBS cut its chief executive's 2011 bonus to 963,000 pounds ($1.5 million), heeding political pressure to curb pay at the part-nationalised bank while ignoring calls to axe the bonus altogether.

RIO TINTO

The global miner may push for a change in ownership of the massive Oyu Tolgoi copper and gold mine in Mongolia, which is two-thirds owned by Canada's Ivanhoe Mines, the Canadian miner said in a U.S. filing.

BP

A federal judge said BP must indemnify Transocean Ltd for some compensatory damage claims over the 2010 Gulf of Mexico oil spill.

SERCO

The FTSE 100 outsourcing firm is to cut at least 500 jobs in the UK as part of an overhaul of its management structure, the Financial Times reported.

RETAILERS

UK high street retailers Clinton Cards, Monsoon, Accessorize and Sports Direct have taken a stand against the landlords of their shops, demanding the right to pay rents on a monthly rather than quarterly basis to ease cash flow pressures, the Financial Times said.

LONDON STOCK EXCHANGE GROUP

The company issues a trading update.

AVEVA GROUP

The software company issues a trading update.

HORNBY

The toy manufacturer issues a trading update.

MARSTON'S

The pubs group holds its annual general meeting.

SMITHS NEWS

The newspapers, magazines and books wholesaler holds its AGM.

TODAY'S UK PAPERS

> Financial Times

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