July 3, 2019 / 7:02 AM / 20 days ago

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

(Adds company news items, futures)

July 3 (Reuters) - Britain’s FTSE 100 index is seen opening 9 points higher at 7,568 points on Wednesday, according to financial bookmakers, with futures up 0.82% ahead of the cash market open.

* SYNTHOMER: Polymer maker and supplier Synthomer Plc said on Wednesday it has agreed to buy U.S.-based Omnova Solutions Inc for an enterprise value of $824 million as it looks to strengthen its global position.

* SAINSBURY: British supermarket group Sainsbury’s reported a third consecutive quarter of declining underlying sales, hurt by weak clothing and general merchandise markets.

* FERREXPO: Iron ore miner Ferrexpo plc said on Wednesday it appointed MHA MacIntyre Hudson, the UK member of Baker Tilly International, as its auditor for the current financial year.

* UNITE: Student housing provider Unite is to acquire rival Liberty Living Group in a 1.4 billion pounds ($1.76 billion) cash and shares deal that will see Canada’s Pension Plan Investment Board take a 20 percent stake in the enlarged group.

* JD SPORTS: JD Sports, Britain’s biggest sportswear retailer, said on Wednesday it was on track to deliver headline annual pretax profit at least equal to current consensus market expectations as it opened new stores.

* CBRE: U.S.-real estate firm CBRE Group Inc said on Wednesday it will acquire British residential property developer Telford Homes Plc for about 267.4 million pounds ($336.15 million).

* PURPLEBRICKS: Purplebricks Group Plc said it would pull out of the U.S. market in the latest setback for the struggling British online estate agent which is already preparing to exit Australia.

* SERCO: Britain’s Serco has agreed to pay a 19.2 million pound ($24.1 million) fine for three offences of fraud and two of false accounting when it provided electronic tagging to the Ministry of Justice (MOJ) between 2010 and 2013.

* BP: BP Plc has concluded that some of its resources “won’t see the light of day” as oil companies face increasing pressure to bring fuel to market faster and cheaper, according to Bloomberg.

* WOODFORD: Fund manager Neil Woodford is believed to have offloaded a stake of about 70 million pounds in Stobart Group as he tries to overhaul his investment fund, according to The Times.

* OIL: Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.

* BORIS JOHNSON: Boris Johnson, frontrunner to become Britain’s next prime minister, will launch a review into the so-called sin taxes on products high in salt, fat and sugar if he wins the contest for leader, he will say on Wednesday.

* The UK blue chip index closed up 0.8% higher on Tuesday driven by gains in internationally exposed stocks that benefited from a weaker sterling.

* For more on the factors affecting European stocks, please click on:

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Shariq Khan and Adil Bhat in Bengaluru)

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