UPDATE 1-UK Stocks-Factors to watch on Tuesday Aug 7

Last Updated: Tue, Aug 07, 2012 06:50 hrs

* Britain's FTSE 100 index is seen opening up 3 to 6 points, or 0.1 percent, according to financial bookmakers. For more on the factors affecting European stocks, please click on

* The UK blue chip index closed up 21.49 points, or 0.4 percent, at 5,808.77 on Monday, hitting its highest closing level since May, on the back of Friday's robust U.S. jobs report and hopes that Spain will request a bailout triggering European Central Bank action to further relieve the euro zone debt crisis.

* On the macro front, UK June industrial and manufacturing output figures are due at 0830 GMT. Should these come in weak, and Wednesday's inflation report prove benign, this could increase the likelihood of further action from the Bank of England.

* Across the Atlantic, U.S. June consumer credit data is scheduled for release at 1900 GMT.

* STANDARD CHARTERED - The bank strongly rejected the portrayal of its handling of Iran-related transactions by New York's top bank regulator, which branded the British bank a "rogue institution".

* INTERCONTINENTAL HOTELS GROUP - The world's biggest hotelier, promised to return $1 billion to its shareholders partially funded from the planned sale of a New York hotel as it posted a rise in profits boosted by trading in the United States and China.

* LEGAL & GENERAL GROUP - The insurer reports a 5 percent rise in operating profit to 518 million pounds.

* TESCO - The world's No. 3 retailer, launched an interactive virtual grocery store at Britain's Gatwick Airport on Tuesday to help holidaymakers shop for their return using their smartphones.

* BHP BILLITON - The world's biggest miner is in talks with Harry Winston, the Canadian mining and retail group, about a sale of its diamond business, the Financial Times reported.

* HMV - The firm names Ian Kenyon as group finance director.

* PREMIER FOODS - The group said first-half profit rose 3 percent on strong sales of its key brands, and it reaffirmed its full-year expectations while remaining cautious amid the current economic environment.

* GREGGS - The bakery group hikes its interim dividend by 3.4 percent to 6 pence a share.

* BELLWAY - The housebuilder said it expects its full-year profit to be "modestly" ahead of consensus.


> Financial Times

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

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