UK Market News

Tuesday May 5, 07:11 AM
UK at a Glance-UK Stocks -- Factors to watch on May 5

LONDON, May 5 (Reuters) - Britain's FTSE 100 is seen gaining as much as 1.8 percent by financial bookmakers on Tuesday, catching up with gains from its continental European peers the previous session when it was closed for a public holiday. The UK's blue chip index is seen opening 74-76 points higher, after the FTSEurofirst 300 added up 1.6 percent at 842.70 points the previous session, its highest close since January 12. U.S. stocks rallied on Monday driving the S&P 500 into positive territory for the year with banking stocks the standout gainers. Investors will focus on banks, with a source familiar with official talks telling Reuters about 10 U.S. institutions will be told they need to increase the size of their capital cushions. Banks will be briefed on Tuesday on the final results which will be published on Thursday. * Investors eye stress tests amid hopes slump easing * Wall St rallies on banks; S&P positive for '09 * GLOBAL MARKETS-Bank caution supports dollar, tempers stocks * TREASURIES-Fed buying buffers bonds from stock rally * Aussie, others retreat from highs as caution sets in * Oil retreats towards $54 after 2009-high settlement * Copper up 3 pct, US homes data supports * Gold extends gains above $900 on dollar UK stocks to watch on Tuesday are: ROYAL DUTCH SHELL (Amsterdam: RDSA.AS - news) The oil major is facing the risk of a shareholder rebellion over pay for the second consecutive year after two influential investor advisory groups raised concerns about discretionary pay awards made to board-level executives, the Financial Times reported. AVIVA The insurance group said it was in the final stages of its Chinese investment strategy, after it opened an office in Hubai, the 10th province in the country in which it now has a presence, the Daily Telegraph said. GLAXOSMITHKLINE (LSE: GSK.L - news) The drug giant is ramping up production of its inhaled flu drug Relenza and preparing to start manufactuing a pandemic vaccine, the drugmaker said on Friday. CARNIVAL The company said it has canceled all Mexico port visits for 16 of its ships through June 15 due to the flu alert. PROPERTY Shop rents have been cut across the UK by close to a third over the past year as landlords concerned about emptying centres have slashed terms to attract retailers, the Financial Times reported. ABERDEEN ASSET MANAGEMENT (LSE: ADN.L - news) The fund management group releases its first half results. RENISHAW (LSE: RSW.L - news) Britain should turn away from the 'hype' of financial services and reorientate its economy towards advanced engineering industries, according to Renishaw chairman and chief executive David McMurty, the Financial Times said. The company releases a trading statement. Telecity Group (LSE: TCY.L - news) The company releases a trading statement. TODAY'S UK PAPERS > Financial Times > Other business headlines (Reporting by Simon Falush) Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit http://topnews.reuters.com Keywords: MARKETS BRITAIN FACTORS