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UPDATE 1-UK Stocks-Factors to watch on Tuesday, May 28
May 28, 2013 / 6:30 AM / 4 years ago

UPDATE 1-UK Stocks-Factors to watch on Tuesday, May 28

LONDON, May 28 (Reuters) - Britain’s FTSE 100 index is seen opening up 48 to 57 points, or as much as 0.9 percent higher on Tuesday, according to financial bookmakers, with futures firming by 1 percent ahead of the cash market open. For more on the factors affecting European stocks, please click on

* The UK stock market was closed for a public holiday on Monday. European bourses closed higher in thin trade on Monday, recovering after recent weakness, with the Euro STOXX 50 index of euro zone blue chips adding 1.1 percent.

* The UK blue chip index was 42.45 points, or 0.6 percent, lower last Friday, its most recent trading day, extending a pullback from 13 year highs hit earlier in the week as fears grew that recent supportive monetary policy from the United States might be tapered.

* Central bankers in Japan and Europe both reaffirmed their commitment to monetary stimulus, with European Central Bank Executive Board member Joerg Asmussen on Monday pledging to stick to the kind of expansive policy that has been a key driver of equity market gains over recent months.

* ASTRAZENECA - AstraZeneca has agreed to buy Omthera Pharmaceuticals for up to $443 million to build up its cardiovascular drug business, which Britain’s second biggest drugmaker has previously identified as a priority area. AstraZeneca as also won a temporary injunction in the US courts against the distribution of pulmicort respules.

* DIAGEO - Diageo moved closer to taking control of India’s United Spirits Ltd on Monday after the Indian company approved the allotment of 14.5 million shares on a preferential basis to a wholly owned unit of UK drinks group.

* CO-OPERATIVE GROUP - Britain’s Co-operative Group has named former HSBC banker Niall Booker as the man to steer its banking arm back to health after concerns over its capital position emerged this month.

* VICTREX - British high-tech plastics maker Victrex Plc reported a 1 percent fall in first-half profit, hurt by weak demand at its orthopaedic and dental implants business.

* AG BARR - The soft drinks company says total revenue for the 15 weeks to 12 May 2013 increased by 2.4 percent.


> Financial Times

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