UK Stocks-Factors to watch on Jul 16

LONDON, July 16 Wed Jul 16, 2014 2:25am EDT

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LONDON, July 16 (Reuters) - Britain's FTSE 100 index is seen opening flat to slightly higher on Wednesday, with September futures on the index up 0.1 percent at 0622 GMT. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed down 35.69 points, or 0.5 percent, at 6,710.45 points after U.S. Federal Reserve Chair Janet Yellen voiced concern over valuations.

* RIO TINTO : The world's second-biggest iron ore miner said expansion work at its mines in Australia led to a sharp rise in iron ore output as it steps up shipments to China, banking on a big drop in domestic Chinese production to soak up exports.

* EVRAZ : Russia's largest steelmaker said on Wednesday its second-quarter crude steel output rose 1 percent, quarter-on-quarter, to 3.9 million tonnes.

* LONDON STOCK EXCHANGE GROUP : The group said on Wednesday that total income in the first quarter rose 16 percent to 323.9 million pounds ($554.9 million), as revenue grew across almost all of its business divisions.

* BRITISH LAND : Britain's second-largest listed property company raised its dividend on Wednesday and said occupational and investment markets in London and retail continue to strengthen.

* SEVERN TRENT : The water utility is trading in line with expectations and is on track to offer shareholders a 5.6 percent rise in dividend payments this financial year, the company said on Wednesday.

* GLAXOSMITHKLINE : The drugs firm and Theravance said on Wednesday they would start a global phase III study to evaluate the efficacy and safety of the 'closed' triple combination of FF/UMEC/VI in patients with chronic obstructive pulmonary disease.

* TESCO : The supermarket is facing criticism from farmers for promoting New Zealand lamb at the height of the British season for the meat, despite its promises to back local producers, The Guardian wrote on Wednesday. (bit.ly/1t0gWnb)

* MEGGIT : U.S. firm United Technologies Corp could be preparing a 625 pence cash offer for the British engineering firm, the Daily Mail wrote in its market report, citing dealers.

* Shares in Imperial Tobacco are scheduled to go ex-dividend on Wednesday, taking 1.48 points off the FTSE 100 according to Reuters calculations.

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 * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting By Francesco Canepa; Editing by Alistair Smout)

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