August 29, 2017 / 6:38 AM / in a year

UPDATE 1-UK Stocks-Factors to watch on Aug 29

(Adds company news items)

Aug 29 (Reuters) - Britain’s FTSE 100 index is seen opening down 35 points on Tuesday, according to financial bookmakers, with futures down 0.71 percent ahead of the cash market open.

* MITIE: Britain’s financial watchdog is investigating outsourcing company Mitie Group over the “timeliness” of a profit warning last September and the preparation and content of its financial information, the company said on Tuesday.

* BUNZL: British business supplies distributor Bunzl Plc posted an 18 percent rise in first-half profit, as benefits from recent acquisitions continued to support its growth during the period.

* GLENCORE: Glencore on Monday said it was looking to sell a second Australian coal mine, part of the Swiss-based resource giant’s rethink on how it deploys capital as its reins in debt and commodities prices rise.

Separately, Zambian President Edgar Lungu has told Glencore’s Mopani Copper Mines (MCM) unit to accept higher electricity prices caused by the removal of state energy subsidies, his spokesman said on Saturday.

* SHELL: Royal Dutch Shell Plc said on Sunday no damage from Harvey was seen to the Perdido production platform in the Gulf of Mexico by a U.S. Coast Guard overflight.

Separately, Shell said it was shutting the Deer Park, Texas, refinery and chemical plant complex on Sunday due to Tropical Storm Harvey.

Meanwhile, Brazil’s Raízen Combustíveis SA is close to buying parent Shell’s Argentina gas station network for more than $1 billion, two people familiar with the plan said.

* PREMIER OIL: Premier Oil is in talks with UK government for Falkland oilfield financing, Financial Times reported on Monday.(

* RESTAURANT GROUP: Restaurant Group is expected to post a steep drop in half-year profits, Telegraph reported on Monday.(

* BP: BP Plc said on Monday that its offshore oil platforms in the U.S. Gulf of Mexico and its Texas City chemical plant remain online during Tropical Storm Harvey.

* BHP: Anglo-Australian mining giant BHP Billiton is considering selling a 25 percent interest in its Canadian potash mine project, a stake that could be worth close to $2 billion, people familiar with the matter told Reuters.

* BRITAIN ECONOMY: Optimism across Britain’s services sector fell during the three months to August, and companies felt the pinch from rising costs even though new business largely held up, an industry survey showed on Tuesday.

* OIL: Flooding from tropical storm Harvey caused ongoing large-scale U.S. refinery outages on Tuesday, while crude prices rose on the back of supply disruptions in Colombia and Libya.

* The UK blue chip FTSE 100 index closed 0.1 percent down at 7,401.46 points on Friday, as strength in banks and energy firms was not enough to offset a drop in retailers, which fell back as concern over competition from Amazon reared its head again.

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


> Financial Times

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