UK Stocks - Factors to watch on May 20

LONDON, May 20 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening
22-31 points down on Tuesday, according to financial bookmakers, having closed
72.2 points, or 1.2 percent higher at 6,376.5 in the previous session.
UK investors are expected to track back from recent gains as energy stocks
rallied to buoy the Dow .DJI overnight, while the Nasdaq Composite Index
.IXIC lost ground. Japan's Nikkei average .N225 was negative, dragged down
by property firms after a brokerage downgrade on the sector.
A busy day on the UK corporate calendar could see individual stocks feature
with retailer Marks & Spencer (MKS.L) and property company British Land (BLND.L)
the top picks.

On the economic agenda, U.S. PPI numbers for April from 1230 GMT and U.S.
IBD consumer confidence index for May at 1400 GMT, may offer further economic
clues.
"Equity markets are looking at a slightly softer start across Europe today
following on from recent gains," said one London trader. "Looking ahead, there's
no shortage of economic and corporate data through the session to offer some
meaningful direction."

Energy shares may also support, after U.S. crude CLc1 continued to march
upwards, at over $127 a barrel, driven by renewed fears of supply disruption and
OPEC's reluctance to raise output at its next meeting in September.

* US STOCKS-Energy shares boost Dow, S&P 500 in light [ID:nN1932741]

* Nikkei slips on property, buoyed by trading houses [ID:nT133560]

* Oil past $127 on supply fears, OPEC remarks [ID:nSP31955]

* TREASURIES-Rise in Asia on stock fall, inflation data eyed [ID:nT7645]

* GLOBAL MARKETS-Asian stocks slip, eye on inflation and oil [ID:nHKG279817]

UK stocks to watch on Tuesday are:

BRITISH AIRWAYS (BAY.L)

British Airways' chief executive expects more failures and more mergers in
the air industry this year as carriers face the challenges of soaring oil prices
and a weak U.S. economy. [ID:nN19562724]

BARCLAYS (BARC.L)

Barclays is considering making a daring takeover bid for a rival as part of
a move to raise capital from shareholders, the Daily Telegraph said.

The newspaper said guiding Barclays' decision was understood to be a
consideration about whether to try to take advantage of rivals' weakness by
launching a large rights issue with a double purposes: to improve its captial
ratio and to fund an acquisition.

HSBC (HSBA.L)

HSBC Holdings on Monday sold $1.5 billion in 30-year global subordinated
bonds, International Financing Review said. [HBSA.L-RTRS-LEN]

ROYAL BANK OF SCOTLAND (RBS.L)

The $34.8 billion buyout of BCE Inc (BCE.TO) (BEC.N) has become more
questionable as the banks funding the deal have sought to renegotiate the
financing terms, a source familiar with the situation said. [ID:nN19532292]

THe lead lenders include Citigroup (C.N), Deutsche Bank (DBKGn.DE) and Royal
Bank of Scotland.

Also, ABN AMRO has appointed as branch manager and CEO of its South Korean
operations the country head of Royal Bank of Scotland's global banking and
markets, the Dutch firm said on Tuesday.

MARKS & SPENCER (MKS.L)

Union leaders are calling for a shareholder vote at Marks & Spencer to
address a "structural pattern of discrimination" in the high street retailer's
British supply chain, the Times reported.

Also, the firm is due to announce its preliminary final earnings and fourth
quarter trading update.

BAE SYSTEMS (BAES.L)

U.S. officials investigating possible bribes examined, and then returned,
electronic equipment carried by two BAE Systems executives when they were served
subpoenas last week, a BAE spokesman said on Monday. [ID:nN19176041]

TAYLOR WIMPEY (TW.L)

Taylor Wimpey, the UK's second-largest housebuilders, is to make around 600
staff redundant after closing a third of tis regional offices, the Daily
Telegraph reported.

MITCHELLS & BUTLERS (MAB.L)

Mitchells & Butlers is planning to put up to 300 million pounds of "golden
brick" pubs on the market in a move aimed at placating shareholders in the
embattled pubs group, the Daily Telegraph said.

The firm is also due to announce its first half earnings.

BRITISH LAND (BLND.L)

The firm is due to announce its preliminary final earnings.

IMPERIAL TOBACCO (IMT.L)

The firm is due to announce its preliminary first half trading update.

ICAP ICAP.L

The firm is due to announce its preliminary final earnings.

ROYAL DUTCH SHELL (RDSa.L)

The firm is due to hold its annual general meeting.

3I GROUP (III.L)

Morgan Stanley raises its price target to 1075 pence from 1045 pence, rating
"equal weight".

YELL (YELL.L)

The firm is due to announce its preliminary final earnings.

SEGRO (SGRO.L)

The firm is due to hold its annual general meeting.

ENODIS ENO.L

Illinois Tool Works Inc (ITW.N) said on Monday it was considering its
position with respect to British kitchen equipment maker Enodis and will make a
further announcement in due course.

DAIRY CREST (DCG.L)

The firm is due to announce its preliminary final earnings.

TODAY'S UK PAPERS

> Financial Times [PRESS/FT]

> Other business headlines [PRESS/GB]

(Reporting by Michael Taylor)