UK Stocks-Factors to watch on Friday June 1

LONDON, June 1 Fri Jun 1, 2012 2:07am EDT

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LONDON, June 1 (Reuters) - * Britain's FTSE 100 index is seen opening flat to up 0.3 points, or 0.1 percent higher on Friday, according to financial bookmakers, tracking overnight falls on Wall Street and in Asia, with investors looking cautiously ahead to the U.S. jobs report for May. For more on the factors affecting European stocks, please click on

* The UK blue chip index officially closed up 23.58 points, or 0.5 percent on Thursday at 5,320.86, having been recalculated after-hours by FTSE because of problems with data from a third-party vendor, the index provider said.

* All eyes will be on the latest U.S. jobs report, due for release at 1230 GMT, with May non-farm payrolls seen rising by 150,000 on the month, and the unemployment rate expected to hold steady at 8.1 percent in May.

* China's official purchasing managers' index - covering the country's biggest, mainly state-backed firms - fell more than expected to 50.4 in May, the weakest reading this year and down from April's 13-month high, with output at its lowest since November 2011.

* The HSBC China manufacturing PMI, tracking smaller private sector firms, retreated to 48.4 from 49.3 in April - its seventh straight month below the 50-mark that demarcates expansion from contraction - with the employment sub-index falling to 48.1, its lowest level since March, 2009.

* Short-covering and bargain hunting lifted London copper on Friday after prices hit their lowest level so far this year in the previous session, with disappointing, but expected, Chinese manufacturing data having little effect as investors had already priced it in, traders said.

* Brent crude fell on Friday, staying below $102 per barrel and extending its May swoon, after weak manufacturing activity data from No. 2 oil user China fueled further selling ahead of a key U.S. employment report.

* XSTRATA Chief Executive Mick Davis will get a three-year deal worth almost 30 million pounds ($46 million) to stay at the helm once the miner joins forces with trader Glencore, a windfall likely to sow a shareholder storm at votes due in July.

* HMV - The struggling retail group said after the London close that it had agreed to sell the Hammersmith Apollo music venue to Stage C limited for a total cash consideration of 32 million pounds, with the sale enabling HMV to extend its bank facilities, strengthen capital structure and ensure strong future for group.

* PLUS MARKETS GROUP - Dubai-based Gulf Merchant Bank has entered a bid for Plus Stock Exchange, the junior London financial market, which might scuttle its planned sale to interdealer broker ICAP, the Financial Times said.

* Among other U.S. data, April personal income and consumption figures will also be released at 1230 GMT, followed by April U.S. construction spending and May's ISM report, both at 1400 GMT.

* The Markit/CIPS British manufacturing PMI report for May will be released at 0828 GMT.

* UK CORPORATE DIARY:

SOUND OIL holds its annual general meeting.

VERONA PHARMA holds its annual general meeting.

TODAY'S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by Jon Hopkins)

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