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UPDATE 1-UK Stocks-Factors to watch on April 3
April 3, 2017 / 6:43 AM / 8 months ago

UPDATE 1-UK Stocks-Factors to watch on April 3

 (Adds company news items, futures)
    April 3 (Reuters) - Britain's FTSE 100         index is seen opening up 6
points at 7,328 on Monday, according to financial bookmakers, with futures
        up 3 points ahead of the cash market open.
    * LLOYDS: The British government has reduced its holding in Lloyds Banking
Group PLC          to less than 2 percent, putting the lender on track to be in
full private ownership within weeks.            
    * IMAGINATION TECH: Apple          has given Imagination Tech         notice
that it will stop using its graphics technology in the iPhone and other products
in up to two years' time, dealing a major blow to the British
    * RECKITT BENCKISER: British consumer goods maker Reckitt Benckiser       
is weighing strategic options for its food business, it said on Monday it,
following its agreement to buy Mead Johnson        .                
    * CO-OP BANK: Britain's Virgin Money        is poised to make a bid for
Co-operative Bank         , the Times reported on Saturday.
    * RIO TINTO: The copper market is likely to see a small shortage as early as
this year because of a lack of new supply and the removal of up to 800,000
tonnes over the past 18 months in response to modest prices, Rio Tinto's        
copper and diamonds chief will say on Tuesday.            
    * SHELL: Royal Dutch Shell          has decided to withdraw from Kakinada
gas project in India, Business Standard reported on Monday.             
    * NATIONAL GRID: UK electricity system operator National Grid        is
pressing for a rule change that would allow it to own storage, the Financial
Times reported on Sunday.            
    * APAX: British private equity fund Apax Partners           is close to
finalizing a deal to buy Israel-based Syneron Medical         , an aesthetic
device company, for about $500 million, Israeli media reported on Sunday.
    * BRITAIN ECONOMY: British company finance chiefs are their most optimistic
in 18 months, but their risk appetite has recovered far less from the battering
it took in the run-up to and aftermath of last year's vote to leave the European
Union, a survey showed on Monday.               
    * OIL: Oil futures dipped in early Asian trade on Monday on worries about
global oversupply after a higher U.S. rig count pointed to rising U.S. shale
production, while a stronger dollar also put pressure on crude.            
    * The UK blue chip FTSE 100         index closed 0.6 percent lower at
7,322.92 points on Friday, weighed down by South Africa-exposed stocks after
President Jacob Zuma sacked finance minister Pravin Gordhan, causing a slump in
the rand.            
    * For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets

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 (Reporting by Siju Varghese; Editing by Sunil Nair)

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