March 13, 2014 / 7:35 AM / 4 years ago

UPDATE 1-UK Stocks-Factors to watch on March 13

LONDON, March 13 (Reuters) - Britain’s FTSE 100 index is seen opening up by 16 to 17 points, or 0.3 percent higher, on Thursday, according to financial bookmakers.

* The FTSE 100 futures contract was up by 0.1 percent by 0725 GMT.

* The UK blue chip index fell to a one-month low on Wednesday, ending down by 1 percent, or 64.62 points lower, at 6,620.90 points.

* CHINESE ECONOMY: China’s industrial output rose 8.6 percent in the first two months of 2014 from a year earlier, missing market expectations, with growth in retail sales also weaker than expected, the National Bureau of Statistics said on Thursday.

* Shanghai and London copper futures regained strength on Thursday after plunging to multi-year lows in the previous session.

* WM MORRISON : Britain’s fourth biggest grocer Wm Morrison posted its lowest profit in five years, slashed expectations going forward and said it plans to sell off one billion pounds ($1.66 billion) of its 9 billion pound property portfolio.

* ROYAL DUTCH SHELL : Royal Dutch Shell said on Thursday it was cutting spending on American upstream by a fifth this year after it was impacted by losses in resources plays such as shale.

* HOME RETAIL : Britain’s Home Retail Group said annual profit would now be slightly ahead of the top end of market forecasts after it delivered a much better-than-expected finish to the year at its Argos and Homebase businesses.

* F&C ASSET MANAGEMENT : Fund management company F&C Asset Management posted a rise in underlying earnings per share.

* TRINITY MIRROR : British newspaper publisher Trinity Mirror plc posted a 2.6 percent rise in full-year pretax profit to 101.3 million pounds ($168.2 million) after it countered falling revenue with tight cost management and lower interest charges.

* CIRCASSIA : British biotech firm Circassia will list on the London stock exchange at 310 pence per share, the company said on Thursday, at the top of its price range and giving it a market capitalisation of about 581 million pounds ($964.8 million).

* UK HOUSING MARKET: British house prices rose at the slowest pace in six months in February, but strong expectations for rising prices and activity suggest the housing market recovery still has a long way to run, a survey showed on Thursday.

* UK INSURERS/FLOODS: The insurance bill for flooding across areas of Britain since the start of the year is set to reach 446 million pounds ($741.59 million), the Association of British Insurers said on Thursday.

* GLAXOSMITHKLINE : GlaxoSmithKline said its non-inhaled treatment for a type of severe asthma met the main goals in two late-stage studies.


> Financial Times

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