UK Stocks-Factors to watch on July 11
LONDON, July 11
LONDON, July 11 (Reuters) - Britain's FTSE 100 index is seen opening up 10-13 points, or as much as 0.2 percent higher on Friday, according to financial bookmakers. For more on the factors affecting European stocks, please click on
* Futures for the index were up 0.2 percent by 0643 GMT.
* The UK blue chip index fell 45.67 points, or 0.7 percent, to 6,672.37 points on Thursday, with financial stocks hit by a sell-off in the sector across Europe on concerns about Portugal's biggest listed bank.
A 2.8 percent drop this week put the index on track for its worst week in more than a year.
* Portugal's PSI share index fell 4.2 percent to a nine-month low on Thursday, lagging all other European benchmarks, after shares and bonds of Espirito Santo Financial Group, the chief shareholder in Banco Espirito Santo , were suspended over "material difficulties" at parent firm ESI.
Portugal's stock market regulator halted trading in the bank after the shares fell 19 percent. Before the resumption of trade on Friday, Banco Espirito Santo said that losses on loans to the troubled business empire of its founding family will not put the bank at risk of running short of capital.
* Britain's biggest privatisation in years was blighted by a fear of failure and poor advice from state-appointed banks, a committee of lawmakers said on Friday following an inquiry into the 2 billion pound ($3.4 billion) sale of Royal Mail.
* UNILEVER : The consumer goods maker said it had sold its Slim-Fast brand to Kainos Capital, a U.S.-based private equity firm focused on the food and consumer sector.
* IMPERIAL TOBACCO : The world's fourth-largest tobacco group, said it was in talks with Reynolds RAI.N and Lorillard to acquire certain assets and brands that could be sold by the two groups.
Also, Imperial Tobacco distribution unit Logista said it had set the price of an initial public offering at 13 euros per share, the bottom end of a 12.50 euro to 15.50 euro range.
* FRIENDS LIFE GROUP : Company to sell stake in Lombard International Assurance, Insurance Development Holdings for 449 million euros.
* EXPERIAN : The credit checker reports Q1 total revenue growth of 4 percent.
* SSE : British energy regulator Ofgem has approved the construction of a subsea electricity cable to connect two sides of Scotland's Moray Firth, a project that will help the connection of renewable energy, developer SSE said.
TODAY'S UK PAPERS
> Financial Times
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($1 = 0.5877 British Pounds) (Reporting by Tricia Wright, Editing by Alistair Smout)
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