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UK Stocks-Factors to watch on June 2
June 2, 2014 / 6:35 AM / 3 years ago

UK Stocks-Factors to watch on June 2

LONDON, June 2 (Reuters) - Britain’s FTSE 100 futures contract was up by 0.5 percent by 0620 GMT on Monday, with the cash market seen opening up by 21 points, or 0.3 percent, on Monday. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed down by 0.4 percent, or 26.78 points, at 6,844.51 points on Friday.

* CHINESE ECONOMY: China’s factory activity expanded at the fastest pace in five months in May due to rising new orders, official data showed on Sunday, reinforcing views that the world’s second-largest economy is regaining momentum in the second quarter following Beijing’s targeted measures to bolster growth.

* BRITAIN/EU: A British official on Sunday dismissed a report that Prime Minister David Cameron had threatened at an EU summit last week to bring forward a referendum on British membership of the EU if Jean-Claude Juncker became European Commission president.

* BANK OF ENGLAND/ASSET BACKED SECURITIES: Bank of England deputy governor Jon Cunliffe said asset-backed securities in the European Union should be made more transparent to revive a market badly hit by the 2008 financial crisis.

* GLAXOSMITHKLINE : GlaxoSmithKline Plc has agreed a deal worth more than $350 million with UK biotech company Adaptimmune to develop cancer drugs, the Financial Times reported on Monday.

* SHIRE : London-listed drugmaker Shire Plc has secured a $5 billion credit facility for a takeover offer for New-Jersey-based NPS Pharmaceuticals , The Times of London reported on Sunday.

* ASTRAZENECA : Drugmaker AstraZeneca welcomed positive Olaparib and Cediranib data.

* BALFOUR BEATTY : Infrastructure company Balfour Beatty said it would dispose of two UK assets.

* FAROE PETROLEUM : Energy group Faroe Petroleum said its Butch South West well had spudded in Norway.

* BAE SYSTEMS : The chief executive of BAE Systems has told employees he was concerned about the impact on Europe’s biggest defence contractor if Scotland breaks away from the United Kingdom, as a formal campaign for a Scottish independence vote began on Friday, The Telegraph reported.


> 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 (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)

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