June 26, 2019 / 6:36 AM / 5 months ago

UPDATE 1-UK Stocks-Factors to watch on June 26

(Adds company news items, futures)

June 26 (Reuters) - Britain’s FTSE 100 index is seen opening 17 points lower at 7,405 on Wednesday, according to financial bookmakers, with futures down 0.27% ahead of the cash market open.

* STAGECOACH: Stagecoach Group Plc reported higher annual profit on Wednesday, even as the bus and rail operator faces losing three important rail franchises that could wipe off 1 billion pounds from the company’s books going forward.

* TULLOW: Britain’s Tullow Oil has delayed the final investment decision (FID) for its Kenya project to 2020 and has not yet sealed a tax deal in Uganda that is vital for the progress of its plans there with Total , it said on Wednesday.

* BCA MARKETPLACE: British private equity firm TDR Capital on Wednesday said it offered to buy car auctioneer BCA Marketplace for about 1.91 billion pounds ($2.42 billion).

* LOOKERS: Shares in Lookers Plc slid to their lowest in over seven years on Tuesday after the car dealership said Britain’s financial watchdog is investigating its sales processes over the last three years.

* FIRSTGROUP: Britain’s FirstGroup plc said on Tuesday its shareholders had rejected top shareholder Coast Capital’s proposals to appoint a new chief executive and overhaul its board.

* WOODFORD: Woodford Investment Management Ltd IPO-WOOD.L is close to hiring bankers to sell its stakes in private companies Atom Bank and Oxford Nanopore Technologies, a source close to Woodford told Reuters on Tuesday.

* BP: Mexico’s oil regulator on Tuesday approved a $97 million plan for drilling in an offshore area operated by British supermajor BP in the southern Gulf of Mexico.

* GOLD: Gold prices slipped more than 1% on Wednesday, moving away from a six-year peak hit on Tuesday, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally.

* OIL: Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict.

* The UK blue chip index closed 0.1% higher on Tuesday eking out modest gains on the back of strength in mining companies and oil stocks on Tuesday, alleviating some anxiety after the United States imposed more sanctions on Tehran and before Sino-U.S. trade talks this week.

* For more on the factors affecting European stocks, please click on:


> Financial Times

> Other business headlines (Reporting by Samantha Machado and Adil Bhat in Bengaluru)

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