January 10, 2018 / 7:43 AM / 8 months ago

UPDATE 1-UK Stocks-Factors to watch on Jan 10

(Adds company news items and futures)

Jan 10 (Reuters) - Britain’s FTSE 100 index is seen opening down 4 points on Wednesday, according to financial bookmakers, with futures down 0.07 percent ahead of the cash market open.

* SAINSBURY’S: Sainsbury’s, Britain’s No. 2 supermarket group, reported a slight beat to forecasts for sales growth in its key Christmas quarter and said it was edging up its full-year profit guidance, helped by synergies from the Argos business.

* TAYLOR WIMPEY: Britain’s third-largest builder Taylor Wimpey said its results in 2017 will be in line with expectations after it built more homes, and it anticipates further growth this year.

* PAGEGROUP: British recruitment firm PageGroup Plc reported a 13.8 percent rise in fourth quarter gross profit on Wednesday, while flagging continuing challenges in the UK market.

* TED BAKER: British fashion retailer Ted Baker Plc on Wednesday reported higher retail sales in the key Christmas period, helped by a surge in online sales.

* INTERSERVE: British construction and services company Interserve, which issued multiple profit warnings last year, on Wednesday forecast better-than-expected operating profit for 2018 due to lower costs.

* IAG: The administrator of Niki said he would press ahead with an agreed sale of the insolvent Austrian airline to British Airways owner IAG after a German court ruling fanned concern that the deal could unravel.

* GSK: GlaxoSmithKline’s new chief executive said on Tuesday that the British drugmaker would have a look at Pfizer Inc’s consumer products business, but would not overpay for the asset.

* NOBLE GROUP: Noble Group is closing down its London oil desk and winding down its Asia oil operations, sources familiar with the matter said, as heavy losses and high debt force what was once Asia’s biggest commodities trader to restructure.

* UK ECONOMY: Britain’s economy looks set for an underwhelming 2018, according to a major survey on Wednesday that showed businesses are in a subdued mood ahead of Brexit.

* OIL: Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating.

* The UK blue chip index closed 0.45 percent higher at 7,731 points on Tuesday, as Morrisons led a buoyant retail sector on the back of a well-received Christmas trading update.

* 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: * 3000 Xtra : visit topnews.session.rservices.com * For Top News : topnews.reuters.com (Reporting by Radhika Rukmangadhan in Bengaluru)

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