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Oil and Gas

UPDATE 1-UK Stocks-Factors to watch on Dec. 12

(Adds company news items and futures)

Dec 12 (Reuters) - Britain’s FTSE 100 index is seen opening 56 points higher at 6,863 on Wednesday, according to financial bookmakers, with FTSE 100 futures up 0.18 percent ahead of the cash market open.

* BATS: British American Tobacco, the world’s second-biggest international tobacco company by revenue, stood by its full-year forecast on Wednesday.

* SAINSBURY, ASDA: Sainsbury’s and Asda, the two British supermarkets that are trying to merge, said they wanted more time to provide and consider all the evidence in the competition investigation into the deal.

* ROLLS ROYCE: British engineering company Rolls-Royce said 2018 group profit and free cash flow would be in the upper half of its range of guidance, shrugging off the impact of problems with some engines.

* ELLIOT, PERNOD RICARD: Activist hedge fund Elliott Management has taken a stake in Pernod Ricard aiming to improve what Elliott said was relative underperformance at the French drinks company.

* WOOD PLC: British oilfield services company Wood Plc expects an increase in core earnings for the year, citing a 10 percent rise in revenues driven by a generally improved market in its traditionally stronger second half.

* DIXONS CARPHONE: Britain’s Dixons Carphone, the electricals and mobile phone retailer, slumped to a statutory first-half pretax loss of 440 million pounds ($560 million) after booking 490 million pounds of exceptional charges, mainly related to goodwill.

* INDIVIOR: Indivior Plc said on Wednesday a U.S. court ruling had put a hold on Indian rival Dr. Reddy’s Laboratories launching a generic competitor to the London-listed drugmaker’s bestselling opioid addiction treatment.

* SUPERDRY: Superdry Plc sales continued to suffer from unusually warm weather through November and December, the British fashion chain’s two biggest trading months, prompting it to warn on Wednesday of an 11 million pound hit to profit last month.

* INTERSERVE: Britain’s government will continue granting contracts to Interserve Plc as the debt-laden outsourcing company battles to avoid a Carillion-style collapse, the Financial Times reported on Tuesday.

* WM MORRISON SUPERMARKETS: WM Morrisons shares jumped on Tuesday as traders cited market rumours that the UK supermarket chain could be subject to a takeover approach by U.S. online retail giant Amazon.com Inc.

* VODAFONE: Vodafone Group said on Tuesday that it continues to expect EU antitrust regulators to approve its plan to buy of some Liberty Global assets by mid-2019.

* GOLD: Gold prices were steady early on Wednesday, supported by expectations of fewer rate hikes by the U.S. Federal Reserve next year, while palladium traded at a premium to gold.

* OIL: Oil prices climbed by more than 1 percent on Wednesday, lifted by expectations that an OPEC-led supply cut announced last week for 2019 would stabilise markets as well as hopes that long-running Sino-American trade tensions could ease.

* The UK blue chip index closed up 1.3 percent higher at 6806.94 on Tuesday, as UK shares joined a global equity bounce, although banks and other domestically exposed stocks were left behind as uncertainty grew over Britain’s exit from the EU.

* 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 (Reporting by Karina Dsouza in Bengaluru)

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