March 18, 2013 / 7:40 AM / 5 years ago

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

LONDON, March 18 (Reuters) - Britain’s FTSE 100 index is set to open down 121 to 138 points, or as much as 2.1 percent on Monday, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* Shares were expected to fall sharply on Monday, with Cyprus’ plan to tax depositors rattling investors who are concerned that the move, if passed, could set a precedent for future euro zone bailouts. In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of deposits in return for a 10 billion euro ($13 billion) bailout.

* Mining shares are likely to track a 1.3 to 2.1 percent slide in key base metals prices on concerns related to Cyprus, which was working on a proposal to soften the blow on the bank deposit levy on smaller savers ahead of a parliament vote on Monday.

* Britain’s main share index slipped 0.6 percent on Friday, with heavyweight banks and energy stocks leading the losses after data from the U.S. failed to boost prices past the five-year highs set in the previous session.

* British retailer Marks & Spencer was at the centre of fresh bid speculation on Sunday, with takeover talk resurfacing after a year of weak trading and a flat share price.

* Berkeley Group : British housebuilder Berkeley said it was on track to return 568 million pounds ($859 million) in cash to shareholders and was confident that its lack of debt and robust land holdings would help it meet expectations for its full year.

* Royal Dutch Shell has allocated more than $1 billion to develop Iraq’s Majnoon oilfield in 2013, the head of the joint management committee for the field said on Saturday.

TODAY‘S UK PAPERS

> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by David Brett; Editing by Toni Vorobyova)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below