July 3, 2013 / 5:56 AM / in 5 years

UK Stocks-Factors to watch on Wednesday, July 3

LONDON, July 3 (Reuters) - Futures on Britain’s FTSE 100 index pointed to a lower start on the cash market on Wednesday, with September contracts down 0.9 percent at 0623 GMT. For more on the factors affecting European stocks, please click on

* The FTSE 100 closed down 3.84 points, or 0.1 percent, at 6,303.94 points on Tuesday, having been down as much as 0.7 percent before the U.S. open.

* Shares in luxury brand Burberry, engineering firm Babcock and property developer British Land will go ex-dividend on Wednesday, taking 0.85 points off the FTSE 100, according to Reuters calculations.

* Volume was likely to be thin, with the U.S. stock market due to close early on Wednesday and stay shut on Thursday for Independence Day.

* Royal Dutch Shell - The oil group said it had found oil at its latest deepwater drill in the Gulf of Mexico.

* TULLOW OIL - The Africa-focused oil company hailed a very successful first half 2013 exploration programme in frontier oil country Kenya on Wednesday, reporting strong flow rates, and doubling its estimates of the depth of the oil resource in the Lokichar basin. It also announced confirmation of a new oil discovery there.

* JOHN WOOD GROUP : The oil services firm said on Wednesday it acquired Pyeroy Group limited.

* ROYAL BANK OF SCOTLAND - The bank has commissioned a review of its lending to small businesses, responding to concerns of a shortage of finance in a sector seen as vital to Britain’s economic revival.

* BP - Former FBI Director Louis Freeh will investigate possible misconduct by a lawyer involved in making payments to settle claims by people and businesses affected by the BP spill in the Gulf of Mexico in 2010, the judge in the spill damages case said on Tuesday.

* The Markit/CIPS services PMI for June, due be published at 0828 GMT, was expected to come in at 54.5, showing expansion albeit at a slightly slower pace than in the previous month, when the indicator came in at 54.9.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting By Francesco Canepa, editing by Tricia Wright)

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