Company News

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

(Adds company news items, futures)

May 28 (Reuters) - Britain’s FTSE 100 index is seen opening 28 points higher at 7,306 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.39% ahead of the cash market open.

* BOVIS HOMES, GALLIFORD: British home builder Bovis Homes Group said on Tuesday it was no longer in talks with Galliford Try plc to buy its home building arm, days after the peer rejected a bid from it.

* SPORTS DIRECT: Sports Direct, the sportswear retailer owned by billionaire Mike Ashley, confirmed the sale of the freehold to its Shirebrook logistics centre to Kwasa Logix Sportivo for just over 120 million pounds ($152 million) in cash on Tuesday.

* HSBC: HSBC Holdings PLC on Monday named Kanakanjan Ray as head of its Financial Institutions Group in Southeast Asia.

* FINABLR: Payments and foreign exchange company Finablr plans to use half of the proceeds from its share sale in London earlier this month to expand both organically and via acquisitions, its chief executive said on Sunday.

* BP: BP Plc continued on Friday the restart of the small crude distillation unit (CDU) at its 413,500 barrel-per-day (bpd) Whiting, Indiana, refinery, said sources familiar with plant operations.

* ACACIA MINING, BARRICK GOLD: Barrick Gold Corp’s offer to buy the rest of Acacia Mining for $787 million is fair because the Canadian company is taking on more risk by increasing its exposure to Tanzania, its chief executive said on Friday.

* GOLD: Gold prices inched lower on Tuesday, dropping for the first time in four sessions, as the dollar rebounded from multi-week lows after the European Union parliamentary election results and amid simmering Sino-U.S. trade tensions.

* OIL: Brent crude oil prices consolidated above $70 per barrel on Tuesday as supply cuts led by producer club OPEC and U.S. sanctions on Iran’s and Venezuela’s fuel exports outweighed concerns about an economic slowdown.

* The UK blue chip index added 0.7% on Friday after Prime Minister Theresa May announced her resignation date as head of her party in a widely expected move that nevertheless raises the prospect of a successor likely to seek a more hardline Brexit deal.

* For more on the factors affecting European stocks, please click on:


> Financial Times

> Other business headlines (Reporting by Tanishaa Nadkar in Bengaluru)