October 15, 2019 / 6:54 AM / a month ago

UPDATE 1-UK Stocks-Factors to watch on Oct 15

(Adds company news items and futures)

Oct 15 (Reuters) - Britain’s FTSE 100 index is seen opening up 7 points at 7,220 on Tuesday, according to financial bookmakers with futures 0.31% higher ahead of cash markets open.

*NATIONAL GRID: British energy market regulator Ofgem said it would grant National Grid Plc 637 million pounds ($803.38 million) to build the transmission link for the Hinkley Point C nuclear plant, lower than the company’s initial request for 717 million pounds.

*SCHRODERS: British money manager said on Tuesday that assets under management at the end of September were 450.8 billion pounds ($569.23 billion), up from 407.2 billion pounds at the start of the year.

*HELIOS TOWERS: African mobile networks operator Helios Towers has priced its initial public offering at 115 pence per share, giving it a market capitalisation of 1.15 billion pounds ($1.45 billion).

*RENISHAW: The British engineering group said on Tuesday its first-quarter profit plummeted 85%, dented by a slump in demand for its precision measurement equipment and ongoing global trade disputes.

*MARSTON’S: British pub operator said on Tuesday it expects full-year pretax profit to be lower, hurt by lower food sales at its ‘Destination’ and ‘Premium’ pubs and higher labour costs.

*NEIL WOODFORD: Embattled money manager Neil Woodford’s suspended LF Woodford Equity Income Fund is to be wound up, the fund’s administrator Link Fund Solutions (LFS) said on Tuesday.

*HAYS: The recruiter reported no growth in its first-quarter net fees on Tuesday, hurt by a slowdown in Germany’s manufacturing sector and as Brexit uncertainty dented hiring in the United Kingdom.

*BELLWAY: The British housebuilder reported higher annual pretax profit on Tuesday, buttressed by strong demand for its affordable homes, the government’s help-to-buy scheme and low interest rates in a tough real estate market.

*INDIVIOR: Indivior PLC on Tuesday raised its full-year revenue forecast, banking on the strength of its opioid-addiction treatment Suboxone.

*GOLD: Gold prices held steady below the $1,500 per ounce level on Tuesday as markets braced for talks between Britain and the European Union that will determine how smooth Britain’s departure will be from the trading bloc.

*OIL: Oil prices dropped again on Tuesday after falling heavily in the previous session, as weak Chinese economic data for September added to lingering concerns about the feasibility of the U.S.-China trade deal announced by President Trump late last week.

* The UK blue-chip index closed down 0.5% as London-listed companies with exposure to the domestic economy retreated on Monday as last week’s euphoric optimism gave way to doubts over whether a timely Brexit deal could be clinched, while cybersecurity firm Sophos surged 36% after a buyout offer.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Aniruddha Ghosh in Bengaluru)

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