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UPDATE 1-UK Stocks-Factors to watch on March 28
March 28, 2017 / 6:46 AM / 6 months ago

UPDATE 1-UK Stocks-Factors to watch on March 28

(Adds company news items, futures)

March 28 (Reuters) - Britain’s FTSE 100 futures were up 0.4 percent ahead of the cash market open on Tuesday.

* TESCO: Britain’s biggest retailer Tesco has agreed to pay a 129 million pound ($162 million) fine to settle an investigation by prosecutors over a 2014 profit overstatement, it said on Tuesday.

* AA: Motoring group AA posted a full-year core profit of 403 million pounds ($505.5 million) on Tuesday, steady from the previous year and in line with expectations, supported by growth in new business.

* THOMAS COOK: British tour operator Thomas Cook said it expected to hit its full-year operating targets after seeing early signs that tourists were returning to troubled markets Turkey and Egypt.

* WOLSELEY: Heating and plumbing products supplier Wolseley reported a 25 percent rise in first-half profit, as growth in the United States more than made up for tough trading conditions in the UK and the Nordics.

* REDROW: British housebuilder Redrow said on Tuesday it did not intend to make an offer to buy fellow builder Bovis just over two weeks after its approach was rejected as too low.

* LADBROKES CORAL: British bookmaker Ladbrokes Coral Group said on Tuesday 2016 operating profit rose about 22 percent despite paying out heavily on a number of gambler-friendly sports results towards the end of the year.

* COBHAM: Aerospace and defence company Cobham said on Tuesday it would raise about 512.4 million pounds ($642.6 million) through its rights issue to pay down debt.

* TESCO: Two of Tesco Plc’s biggest shareholders have called on the supermarket group to withdraw its 3.7 billion-pound ($4.7 billion) agreed offer for wholesaler Booker Group Plc, potentially casting doubt on the deal’s progress.

* LLOYDS OF LONDON: Lloyds of London, the world’s largest speciality insurance market, will this week pick Brussels or Luxembourg for its planned European Union subsidiary, after Dublin had been an early favourite, sources say.

* BREXIT: Qatar pledged 5 billion pounds ($6.3 billion) of investment in Britain on Monday in a show of support for the world’s fifth-largest economy just two days before Prime Minister Theresa May triggers formal Brexit talks.

* BRITAIN DEBT: The number of people seeking help from a leading British debt advice service hit a record high last year, reflecting a surge in borrowing by consumers and the financial strains on younger workers, the charity said on Tuesday.

* OIL: Oil prices rose on Tuesday, supported by a weak dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC-led supply cut is big enough to rebalance the market.

* The UK blue chip FTSE 100 index closed down 0.6 percent at 7,293.50 points on Monday, after the failure of U.S. President Donald Trump to push his healthcare reforms through Congress hit mining shares and Babcock fell after exiting a contract.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

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 * For Top News : topnews.reuters.com (Reporting by Siju Varghese; Editing by Sherry Jacob-Phillips)

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