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UPDATE 1-UK Stocks-Factors to watch on Wednesday, May 28
May 28, 2014 / 6:35 AM / 3 years ago

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

(Adds company news, futures)

EDINBURGH, May 28 (Reuters) - Britain’s FTSE 100 index is seen opening slightly higher on Wednesday, with futures on the index up 0.1 percent ahead of market open. For more on the factors affecting European stocks, please click on

* The blue-chip FTSE 100 index closed up 29.19 points, or 0.4 percent, at 6,844.94 points on Tuesday, lifted by gains in chip designer ARM and InterContinental Hotels Group, which pushed the market back to within reach of its record high.

* WEIR - British engineering company Weir Group said it submitted a revised acquisition proposal for Finnish rival Metso on May 20, but the approach had been rejected a week later, adding that it would not pursue a takeover any further at the current time.

* GLAXOSMITHKLINE - Britain’s fraud office has launched a formal criminal investigation into GlaxoSmithKline, posing a new challenge to the drugmaker, which already faces claims of bribery in China and four other countries.

* ROYAL BANK OF SCOTLAND - Royal Bank of Scotland has become the latest overseas bank to shrink its business in the United States after announcing it would cut its mortgage trading business by two-thirds, the Financial Times reported on Tuesday.

* WM MORRISON - Faced with falling profits, grocer WM Morrison is asking suppliers to cover the cost of ensuring products meet regulations in the latest of a series of payment demands, the Guardian reported.

* RIO TINTO - The global miner plans to cut about 300 jobs from its troubled project in Mongolia, the Times reported, further testing its turbulent relationship with the government.

* Ex divs will trim roughly 1 point off the FTSE 100, as Marks and Spencer and Whitbread trade without entitlement to their latest dividend payout.

* SERCO, FIRST GROUP - Outsourcer Serco has been selected to run the new Caledonian Sleeper rail franchise, which as estimated revenue of 800 million pounds ($1.34 billion) over 15 years. First Group , the previous operator of the franchise, said its medium term targets were unchanged.

* DE LA RUE - British banknote printer De La Rue reported a 43 percent rise in operating profit for the financial year that saw a profit warning and the departure of its chief executive Tim Cobbold.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit * BridgeStation: view story .134 For more information on Top News visit ($1 = 0.5952 British Pounds) (Reporting by Alistair Smout, editing by Atul Prakash)

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