UK Stocks-Factors to watch on Oct. 11

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UK Stocks-Factors to watch on Oct. 11
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Oct 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 18-22 points, or 0.3 percent lower on Tuesday, according to financial bookmakers.

* The UK blue chip index closed 0.8 percent higher on Monday at 7,097.50, not far from a record 7,122.74 set in April last year, with commodities-related stocks surging on the back of strong crude oil and major industrial metals prices. BP: BP Plc BP.L has abandoned plans to drill for oil and gas off the south coast of Australia, saying it can get better value for its exploration spending elsewhere, although it still sees strong potential in the Great Australian Bight. Marathon Petroleum Corp (NYSE: MPC ) MPC.N alleged BP failed to deliver a Texas oil refinery and three products terminals in the condition promised under a $2.4 billion sales agreement signed in 2012, according to a federal lawsuit filed on Monday. RBS: Royal Bank of Scotland RBS.L said on Monday there was no evidence it had deliberately caused SMEs to fail, while a senior British lawmaker called for the country's regulator to fix a publication date for a long-delayed review into the allegations. the Irish unit of Royal Bank of Scotland has sold non-performing loans with a face value of 2.5 billion euro ($2.8 billion) to private equity firm Cerberus, the bank said on Monday. RIO TINTO: Mining giant Rio Tinto RIO.L said on Monday that the International Finance Corporation (IFC), a partner in its $20 billion Simandou iron ore project in Guinea, is selling its 4.6 percent stake. BREXIT: The United Kingdom could lose up to 66 billion pounds ($82 billion) a year under a "hard Brexit", The Times reported citing leaked government papers. BREXIT: VTB VTBR.MM , Russia's second biggest lender was considering moving its European hub to Frankfurt, Paris or Vienna because of the disruption expected to be caused by the country's vote to leave the European Union, the state-controlled bank's deputy chairman and chief financial officer told Financial Times.

* BREXIT: Britain will have leverage in talks with the EU over so-called "passporting" rights, which allow financial services to be sold into the EU states from London, Brexit minister David Davis told parliament on Monday. BREXIT: Britain's government will reject any attempt to ignore the result of its referendum vote to leave the EU or to unduly delay the process of exiting the bloc, Brexit minister David Davis told parliament on Monday. UK IPO: Fitness club chain Pure Gym Group Plc IPO-GYM.L will cancel its initial public offering on Tuesday, Sky News reported, citing sources. Pure Gym received sufficient orders but challenging IPO market conditions made it drop the plan, the newspaper reported on Monday. UK FINANCE INDUSTRY: Prime Minister Theresa May criticised Britain's finance industry for failing to promote and retain women as the government revealed that some of the biggest players have committed to having at least 30 percent in senior roles by 2021. UK CONSUMER SPEND: British consumers picked up the pace of their spending in September after a weak August, but the country's planned exit from the EU is likely to weigh on sales ahead, an industry group said on Tuesday. UK MOTOR INSURANCE: UK third-quarter motor insurance prices rose 3 percent on quarter, after a 6.5 percent rise in the second quarter, according to latest car insurance price index, compiled with consultant Willis Towers Watson. DRIVERLESS CARS: A driverless vehicle carrying passengers will take to Britain's public roads for the first time on Tuesday, as part of trials aimed at paving the way for autonomous cars to hit the highways by the end of the decade. OIL: Oil prices edged down on Tuesday but held near one-year highs touched on growing expectations of an output cut by OPEC producers, with traders saying the price outlook remains bullish as confidence in crude markets rises. METALS: London copper drifted on Tuesday as the dollar held strong after recent solid economic reports, although optimism that U.S. presidential candidate Hilary Clinton was pulling ahead in the polls fed appetite for risk, limiting losses. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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