May 3, 2018 / 6:40 AM / a year ago

UPDATE 1-UK Stocks-Factors to watch on May 3

(Adds futures, company items)

May 3 (Reuters) - Britain’s FTSE 100 index is seen opening down 21 points on Thursday, according to financial bookmakers, with futures down 0.4 percent ahead of the cash market open.

* ESURE: British insurer esure Group Plc on Thursday said claims related to a spell of extreme winter weather resulted in higher-than-expected costs in its home insurance business in the first-quarter.

* WIZZ AIR: Hungary-based budget airline Wizz Air has shored up its post-Brexit flying rights after UK authorities granted its British subsidiary Wizz Air an Air Operator’s Certificate (AOC).

* SMITH & NEPHOW: Smith & Nephew, Europe’s biggest artificial hip and knee maker, downgraded its forecast for full-year underlying revenue growth and profit margin after some markets softened and it saw a slowdown in its bioactives business in the first quarter.

* GLENCORE: Commodities trader and mining company Glencore expects 2018 trading earnings before interest and tax to be in the top half of the $2.2 billion to $3.2 billion range previously announced, it said on Thursday after reporting first-quarter output in line with forecasts.

Glencore has formed a joint venture with China’s Zhejiang Petroleum to trade energy products, officials at Glencore and Zhejiang said on Thursday.

* ROLLS-ROYCE: Britain’s Rolls-Royce stuck to its profit and cash flow guidance for 2018 in a statement made ahead of its annual shareholder meeting, and said it was making progress with a plan to repair some problematic engines more quickly.

* UNILEVER: Unilever Plc’s shareholders approved a new executive pay policy on Wednesday, but the Anglo-Dutch consumer goods group faced a bruising backlash at what is expected to be its last annual general meeting in London.

* ABCAM: Biotech firm Abcam said Horizon Discovery had rejected a 270 million pound ($368 million) approach, adding it had gone public with its takeover interest to try to force the British company to open talks.

* INMARSAT: Investors in Inmarsat voted against the British satellite firm’s remuneration report as they made clear their unhappiness at executive rewards for a year in which the company’s shares fell 35 percent.

* OIL: Oil prices dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that is countering efforts by producer group OPEC to cut supplies and prop up prices.

* GOLD: Gold prices rose for a second session on Thursday after the U.S. Federal Reserve held interest rates steady as expected at the end of a two-day policy meeting, while investors awaited U.S.-China trade talks.

* EX-DIVS: G4S, Kingfisher, London Stock Exchange, Mondi, Unilever, will trade without entitlement to their latest dividend pay-out on Thursday, trimming 4.73 points off the FTSE 100 according to Reuters calculations.

* The UK blue chip index closed 0.3 percent higher at 7,543.20 points on Wednesday, posting a fifth session of gains in a row as metal prices boosted miners and first-quarter earnings reports lifted the London stock market.

* For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit * For Top News : (Reporting by Justin George Varghese)

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