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UPDATE 2-UK Stocks-Factors to watch on May 24
May 24, 2016 / 6:46 AM / a year ago

UPDATE 2-UK Stocks-Factors to watch on May 24

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May 24 (Reuters) - Britain’s FTSE 100 index is seen opening down 20 points, or 0.3 percent, on Tuesday, according to financial bookmakers, with futures down 0.4 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed 0.3 percent lower at 6,136.43 points on Monday, with a drop in the prices of crude oil and industrial metals putting pressure on commodities-related stocks.

* SHELL: Dutch pension fund PGGM, a major shareholder in Royal Dutch Shell , criticised the company’s climate change policy on Monday, a day before Shell’s annual meeting.

* OLD MUTUAL: Anglo-South African financial services company Old Mutual on Tuesday confirmed it had received multiple approaches from potential buyers of its stake in U.S. fund firm Old Mutual Asset Management.

* SEVERN TRENT: British water utility Severn Trent Plc said on Tuesday it expected to save about 670 million pounds ($970 million) in total expenditure between April 2015 and March 2020, as it locked in further efficiencies.

* NATIONWIDE BUILDING SOCIETY: Nationwide Building Society, Britain’s biggest customer-owned lender, reported a 9 percent increase in annual underlying profit as its mortgage lending rose to volumes last seen before the 2007-8 financial crisis.

* AVEVA: Aveva, the British software company that called off a merger with France’s Schneider Electric in December, reported a 18 percent drop in full-year profit, reflecting tough conditions for its customers in South America and South Korea.

* KINGFISHER: Kingfisher, Europe’s largest home improvement retailer, said on Tuesday it had made a solid start to its new financial year, with sales growth driven by its markets in Britain and Poland.

* CYBG PLC: Clydesdale Bank Plc on Tuesday posted a 2.5 percent rise in first-half net interest income, helped by growth in mortgage lending and lower term deposit and wholesale funding costs.

* INTERMEDIATE CAPITAL: British asset manager Intermediate Capital Group (ICG) posted a 20 percent rise in full-year assets under management to 21.6 billion euros($24.22 billion)on Tuesday, driven by strong demand for its debt strategies.

* PARAGON GROUP OF COMPANIES: British lender Paragon Group of Companies Plc reported a rise in first-half profit and said it expected to see relative benefits from the tax changes announced for the buy-to-let mortgage market.

* STOCK SPIRITS: Vodka maker Stock Spirits Group Plc’s shareholders voted for all the proposals put forth by Western Gate Private Investments Ltd, handing the top investor a victory nearly two months after it started agitating for changes at the company.

* UK REFERENDUM: The cost of a family holiday to Europe could rise by up to 230 pounds ($333) if Britons vote to leave the European Union next month, the prime minister said on Tuesday in the latest in a string of warnings of the impact of Brexit on family finances.

* OIL: Oil prices fell in thin trade on Tuesday as the U.S. dollar strengthened, but losses were curbed by a likely drawdown in U.S. crude and gasoline stockpiles.

TODAY‘S UK PAPERS

> 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 Esha Vaish in Bengaluru; Editing by Sunil Nair)

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