September 20, 2017 / 6:31 AM / a year ago

UPDATE 2-UK Stocks-Factors to watch on Sept 20

(Adds company news items)

Sept 20 (Reuters) - Britain's FTSE 100 index is seen opening up 1 point at 7,276.2 on Wednesday, according to financial bookmakers, with futures up 0.1 percent ahead of the cash market open.

* MITIE GROUP: British outsourcing company Mitie Group said it may cut up to 480 jobs after restructuring its cleaning and engineering divisions as it continues with its turnaround drive.

* KINGFISHER: Kingfisher, Europe's largest home improvement retailer, on Wednesday reported a better-than-expected rise in first-half profit but said it was cautious on the second-half backdrop in both the UK and France.

* RYANAIR: Ryanair has offered senior pilots who agree to work an additional 10 days a bonus of up to 12,000 euros in a bid to avoid additional passenger disruption after it cancelled more than 2,000 flights over staffing issues.

* TATA STEEL: Thyssenkrupp and Indian peer Tata Steel on Wednesday signed a memorandum of understanding (MoU) to combine their European steel operations in a 50-50 joint venture, the German company said in a statement on Wednesday.

* BREXIT: The British government has told German Chancellor Angela Merkel to expect Prime Minister Theresa May this week to offer to fill a post-Brexit European Union budget hole of at least 20 billion euros, the Financial Times reported on Tuesday.

* GOLD: Gold was steady on Wednesday, with investors in wait-and-see mode ahead of the outcome of a two-day Federal Reserve meeting in the United States.

* OIL: Oil prices rose on Wednesday after Iraq's oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut to curb a global glut, while a report showed a smaller-than-expected increase in U.S. inventories.

* The UK blue chip FTSE 100 index ended the session up 0.3 percent at 7,275.25 points on Tuesday, as retail stocks gained and cyclical stocks also helped, with investors awaiting further signs of the direction of monetary policy.

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


> Financial Times

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