(Adds company news, futures)
EDINBURGH May 28 Britain's FTSE 100 index is seen
opening slightly higher on Wednesday, with futures on the index up 0.1
percent ahead of market open. For more on the factors affecting European stocks,
please click on
* The blue-chip FTSE 100 index closed up 29.19 points, or 0.4
percent, at 6,844.94 points on Tuesday, lifted by gains in chip designer ARM
and InterContinental Hotels Group, which pushed the market back
to within reach of its record high.
* WEIR - British engineering company Weir Group said it submitted a
revised acquisition proposal for Finnish rival Metso on May 20, but
the approach had been rejected a week later, adding that it would not pursue a
takeover any further at the current time.
* GLAXOSMITHKLINE - Britain's fraud office has launched a formal
criminal investigation into GlaxoSmithKline, posing a new challenge to the
drugmaker, which already faces claims of bribery in China and four other
* ROYAL BANK OF SCOTLAND - Royal Bank of Scotland has become the
latest overseas bank to shrink its business in the United States after
announcing it would cut its mortgage trading business by two-thirds, the
Financial Times reported on Tuesday.
* WM MORRISON - Faced with falling profits, grocer WM Morrison is
asking suppliers to cover the cost of ensuring products meet regulations in the
latest of a series of payment demands, the Guardian reported.
* RIO TINTO - The global miner plans to cut about 300 jobs
from its troubled project in Mongolia, the Times reported, further testing its
turbulent relationship with the government.
* Ex divs will trim roughly 1 point off the FTSE 100, as Marks and Spencer
and Whitbread trade without entitlement to their latest dividend
* SERCO, FIRST GROUP - Outsourcer Serco has been
selected to run the new Caledonian Sleeper rail franchise, which as estimated
revenue of 800 million pounds ($1.34 billion) over 15 years. First Group
, the previous operator of the franchise, said its medium term targets
* DE LA RUE - British banknote printer De La Rue reported a 43
percent rise in operating profit for the financial year that saw a profit
warning and the departure of its chief executive Tim Cobbold.
TODAY'S UK PAPERS
> Financial Times
> Other business headlines
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($1 = 0.5952 British Pounds)
(Reporting by Alistair Smout, editing by Atul Prakash)