UPDATE 1-UK Stocks-Factors to watch on June 1

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UPDATE 1-UK Stocks-Factors to watch on June 1
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June 1 (Reuters) - Britain's FTSE 100 index .FTSE is set to open 19 points higher at 7,697 on Friday, according to financial bookmakers, with futures FFIc1 up 0.37 percent ahead of the cash market open.

* BRITAIN-FUNERALS: Britain's competition watchdog said on Friday it was launching a review into the 2 billion pounds ($2.65 billion) funeral market while the government proposed toughening regulation in the pre-paid sector to prevent grieving families from being ripped off. ROYAL DUTCH SHELL: Royal Dutch Shell RDSa.L on Thursday announced the start of production at the Kaikias field in the U.S. Gulf of Mexico, around one year ahead of schedule. BRITAIN-PENSIONS: Britain's pensions watchdog head Lesley Titcomb will step down at the end of her four-year contract in February 2019, The Pensions Regulator said on Thursday. BRITAIN-NIRELAND/BREXIT: Brexit secretary David Davis is creating a Brexit plan that would give Northern Ireland joint UK and European Union (EU) status so it could trade freely with both, as well as a border buffer zone to eliminate the need for border checkpoints, The Sun newspaper reported on Thursday. OPHIR ENERGY: Ophir Energy OPHR.L , whose chief was replaced amid delays in funding the Fortuna gas project in Equatorial Guinea, is in talks with other potential partners, Ophir said on Thursday. BP (LON: BP ) Plc: BP Plc's 227,000 barrel per day (bpd) Cherry Point Refinery in Ferndale, Washington, was resuming normal operations on Thursday after completing a planned overhaul of the crude distillation unit (CDU) and coker, said sources familiar with plant operations. OIL: Crude oil futures lost more ground on Friday, with the U.S. market set for a second week of decline on pressure from record U.S. production and expectations of OPEC boosting output. The UK blue chip index ended down 0.2 percent at 7,678.2 points on Thursday, as the month's best-performing major European index, shrugging off worries over a political crisis in Italy as commodities-related stocks rallied. For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets


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