May 2, 2018 / 7:10 AM / 7 months ago

UPDATE 1-UK Stocks-Factors to watch on May 2

(Adds company news items, opening)

May 2 (Reuters) - Britain’s FTSE 100 index opened up 11 points at 7520.36 on Wednesday.

* CONVATEC : British medical devices maker ConvaTec on Wednesday posted a 13.7 rise in first-quarter revenue, as acquisitions and favourable foreign exchange movements helped offset the persisting impact of supply chain disruptions in its businesses.

* OCADO: Ocado, the British online grocer and technology company, has signed a partnership deal with Sweden’s ICA Group to develop its online grocery business, it said on Wednesday.

* STANDARD CHARTERED: Standard Chartered Plc posted a better-than-expected 20 percent rise in pretax profit for the first three months of the year, helped by a surge in loan demand and improvement in asset quality.

* RBS: State-backed Royal Bank of Scotland is to cut around 792 jobs and shutter 162 branches following a review of its network in England and Wales, prompting criticism from customers and one of the unions representing the bank’s staff.

* LLOYD’S OF LONDON: John Parry, chief financial officer of Lloyd’s of London, is to leave after 17 years with the insurer.

* GLENCORE: Glencore Plc has won a temporary injunction against Israeli billionaire Dan Gertler over alleged unpaid royalties he said he is owed by the company, the Financial Times reported on Tuesday.

* LSE: The London Stock Exchange’s clearing arm LCH has begun clearing interest rate swaps denominated in yuan, won and rupees to bolster its Asia base as euro business faces the threat of relocation.

* DE LA RUE: Activist investor Crystal Amber on Tuesday said De La Rue was “highly vulnerable” to a takeover after disclosing a stake in the company that makes banknotes and passports, the group’s fund manager Richard Bernstein told Reuters.

* GOLD: Gold prices rose on Wednesday, ticking up from a four-month low hit in the previous session, as Chinese buyers returned to the market following the Labour Day holiday, while investors awaited cues on the U.S. monetary policy from a two-day Federal Reserve meeting.

* OIL: Oil prices firmed slightly on Wednesday, supported by concerns that the United States may reimpose sanctions on major exporter Iran, although soaring U.S. supplies capped gains.

* The UK blue chip index closed 0.2 percent higher at 7,520.36 points on Tuesday, as data showed manufacturing growth slowed to a 17-month low, sending the pound lower and boosting dollar-earning companies.

* 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 Justin George Varghese)

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