August 29, 2018 / 7:14 AM / 3 months ago

UPDATE 1-UK Stocks-Factors to watch on Aug. 29

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Aug 29 (Reuters) - Britain’s FTSE 100 index opened at 7,617.22 points on Wednesday, flat from its close on Tuesday.

* JOHNSTON PRESS: British newspaper publisher Johnston Press’s revenue fell 10 percent in the first half of 2018 as changes to Google’s online search algorithm and Facebook’s news feed hurt online advertising sales.

* PETROFAC: Petrofac Ltd’s profit jumped about 20 percent in the first half of 2018, led by stronger demand for oilfield services, the British-listed firm said on Wednesday, while also announcing a $600 million engineering contract in Algeria.

* DIPLOMA: Technical products and services firm Diploma Plc said its Chief Executive Richard Ingram has stepped down with immediate effect, with non-executive director John Nicholas taking over as executive chairman while the board seeks a successor.

* SINCLAIR PHARMA: Britain’s Sinclair Pharma has agreed on the terms of a potential 32 pence per share cash offer from a unit of China’s Huadong Medicine Co.

* RBS: A banker from Royal Bank of Scotland's global restructuring business, who is being investigated on allegations of taking bribes from small business owners, left the bank with a payoff, The Times reported on Wednesday. bit.ly/2Nqp0xX

* GLENCORE: A truck caught fire and exploded on Sunday at Glencore’s Mangara oilfield in Chad, injuring three employees and forcing production to be suspended, the company said on Tuesday.

* OIL: Oil markets were stable on Wednesday, buoyed by falling supplies from Iran ahead of U.S. sanctions but held in check by rising production outside the Organization of the Petroleum Exporting Countries.

* GOLD: Gold prices edged higher on Wednesday after the previous session’s sharp fall, but rising U.S. interest rates and lingering Sino-U.S. trade tensions continued to weigh on the market with investors selling the metal at small rallies.

* The UK blue chip index closed 0.5 percent higher at 7,617.22 points at on Tuesday, after a trade agreement struck between the United States and Mexico boosted investors’ risk appetite, helping British stocks rise further than European shares as the market reopened after a public holiday.

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

TODAY’S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * For Top News : topnews.reuters.com (Reporting by Justin George Varghese and Shashwat Awasthi)

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