March 18, 2014 / 7:30 AM / in 4 years

UPDATE 1-UK Stocks-Factors to watch on March 18

LONDON, March 18 (Reuters) - Britain’s FTSE 100 index is seen edging lower at the open on Tuesday, with March futures on the index down 0.2 percent at 0723 GMT.

* The UK blue chip index closed 0.6 percent higher at 6,568.35 points on Monday, bouncing off Friday’s one-month low after a week in which it fell 2.8 percent.

* J SAINSBURY : The supermarket chain said sales at stores open over a year fell 3.1 percent, excluding fuel, in the 10 weeks to March 15, compared with analysts’ forecasts in a range of down 2-3 percent. The group said it was confident it would outperform peers in the year ahead.

* BARCLAYS PLC : The bank will try to take the sting out of a heated debate over bankers’ bonuses on Tuesday by pointing to a drop in the value of shares given to its top executives even as the lender’s Chief Executive Antony Jenkins is awarded a 4 million pound ($6.66 million) payout, the Financial Times reported.

* IG GROUP : The provider of financial spread betting and contracts for difference, posted a 9-percent rise in third-quarter revenue on Tuesday citing improved conditions in financial markets.

* CAIRN ENERGY : The oil and gas explorer posted a $556 million loss after tax in 2013 after high costs for unsuccessful drilling in Morocco and the North Sea.

* ROYAL MAIL : The pleasure of delivering many Londoners their council tax bills, parking fines and other local bureaucratic paperwork is to revert to the Royal Mail, The Times reported on Tuesday.

* MONEYSUPERMARKET.COM : The price-comparison website’s founder Simon Nixon plans to sell approximately 55 million existing ordinary 0.02 pence shares in the firm, representing approximately 10 percent of the issued share capital of the company, Moneysupermarket said after the market close on Monday.


> Financial Times

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