April 22, 2014 / 6:21 AM / 4 years ago

UPDATE 1-UK Stocks-Factors to watch on April 22

(Adds company news, futures price)

LONDON, April 22 (Reuters) - Britain’s FTSE 100 index is seen opening up by around 29 points, or 0.4 percent, on Tuesday with bid fever set to boost pharmaceutical stocks, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* FTSE 100 futures were up by 0.4 percent at 0620 GMT.

* The UK blue chip index closed up by 0.6 percent, or 41.08 points, at 6,625.25 points on Thursday, marking a one-week closing high for the index.


Swiss drugmaker Novartis said on Tuesday it would exchange certain assets with GlaxoSmithKline and divest its animal health business to Eli Lilly . Novartis said it had agreed to acquire GSK’s oncology products for a $14.5 billion payment. The Swiss drugmaker said it would divest its vaccines business, excluding flu, to GSK for $7.1 billion plus royalties.


Pfizer Inc may come back to bid for British drug company AstraZeneca Plc after its reported 60 billion pound ($101 billion) takeover approach was rejected, since a deal could make sense for the U.S. pharmaceuticals giant as it seeks to build up its cancer franchise.


Barclays is planning to withdraw from large parts of the metals, agricultural and energy markets as part of a restructuring of its investment bank, a person familiar with the matter said.

* COLT :

Telecoms and technology group Colt announced a restructuring.


Oil company Dragon Oil said its average oil production had risen during the first quarter.


Russian precious metals miner Polymetal said on Tuesday its revenues fell 2 percent to $336 million in the first quarter of 2014, year-on-year.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting by Sudip Kar-Gupta)

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