UPDATE 1-UK Stocks-Factors to watch on Sept. 10

Last Updated: Mon, Sep 10, 2012 06:40 hrs

* Britain's FTSE 100 index is seen opening around 16 points lower, or down 0.3 percent, on Monday, according to financial bookmakers.

Traders said the market was unlikely to make much further gains due to uncertainty ahead of this week's German court ruling on the euro zone's European Stability Mechanism (ESM) and a U.S. Federal Reserve meeting, which could lead to more quantitative easing measures. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed 17.46 points higher, or up by 0.3 percent, on Friday at 5,794.80 points.

* Weak Chinese trade data on Monday underlined the likelihood of more Beijing-backed spending to deal with the damage done to the domestic economy by firms cutting production, inventories and imports in the face of anaemic global demand.

* That helped Shanghai copper and zinc hit their highest levels in four months on Monday

* In the United States, August employment trends data is due to be published.

* Optimism among UK businesses slumped to a 20-year low last month, according to a survey by accountancy group BDO.

* GLENCORE /XSTRATA : Commodities trader Glencore laid out its revised $36 billion all-share bid for miner Xstrata on Monday, raising its offer as expected but warning it would not improve the terms further.

* BG : BG Group Finance Director Fabio Barbosa is to take a medical leave of absence that is expected to last until the end of the year for a recently diagnosed condition, the group said on Monday.

* ASSOCIATED BRITISH FOODS : Primark-owner Associated British Foods is set for a jump in annual earnings as shoppers snapped up bargains at its discount fashion chain and shrugged off the effects of wet weather and depressed economic growth in western Europe.

* MITCHELLS & BUTLERS : The pubs and restaurant group named Alistair Darby as its new chief executive.

* BP : BP is in talks to sell some of its Gulf of Mexico oil fields to Plains Exploration & Production Co for roughly $7 billion, a person familiar with the matter said on Sunday, as the UK oil firm looks to raise money to pay for damages from the 2010 oil spill.

* BHP BILLITON /XSTRATA : Top global miners BHP Billiton and Xstrata are cutting high-cost coal production in Australia as they battle weak prices, rising costs and a strong Australian dollar, adding to worries that Australia's mining boom is fading.

* ROYAL BANK OF SCOTLAND : State-controlled Royal Bank of Scotland said on Monday it would use the government's new flagship lending scheme to offer cheap funds to UK manufacturing companies, in a first move to put the scheme into action.

* FIRST GROUP /STAGECOACH : The British government is preparing to nationalise Virgin Trains' West Coast railway train operating franchise following its attempts to delay the handover of the network to rival operator First Group which won the franchise renewal bid, the Sunday Times newspaper said.

* BANKS: Europe's big banks could be forced to protect trading assets as the consensus recommendation of an European Union-wide review is due to be completed next month, the Financial Times reported on Monday.

* TAWA : The insurance company put itself up for sale.

* CHARIOT OIL & GAS : The energy company said it would abandon its Kabeljou well after failing to find any commercial hydrocarbons.

* TULLOW OIL : The oil company said its Mbawa-1 exploration well had found some gas.

* FENNER : The engineering company said it was trading in line with market expectations.

* KEDCO : The energy company said it would restructure.

* INTERTEK : The company announced the 17 million pound acquisition of NDT Services.


> Financial Times

> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit* BridgeStation: view story .134(Reporting by Sudip Kar-Gupta)

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