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UPDATE 1-UK Stocks-Factors to watch on May 19

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    May 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 31 points at 7,467 on Friday, according to financial bookmakers, with futures FFIc1 up 0.34 percent ahead of the cash market open.

    • HIKMA: Drugmaker Hikma Pharmaceuticals Plc HIK.L on Friday said its revenue for the full-year would be between $2.0 billion-$2.1 billion at constant currency, reflecting delays in the launch of its generic asthma drug.
    • JOHNSTON PRESS: Newspaper publisher Johnston Press Plc JPR.L posted a mere 0.2 percent rise in revenue for the year to April 30 and said trading conditions for regional newspapers in the UK remain challenging.
    • GRAINGER: Grainger Plc GRI.L , Britain's largest listed residential landlord, reported a 13 percent rise in first-half profit and said strong trading would continue over the second half.
    • BHP: BHP Billiton Ltd's (BHP) BLT.L Canadian potash mine will use advanced, cost-saving technology, giving it a competitive edge in a currently over-supplied fertilizer market, the executive in charge of the business said on Thursday.
    • BRITAIN/EU CLEARING: Forcing banks to move euro-denominated trades from London to Frankfurt would be costly, and continental companies would ultimately foot the bill, an industry body said on Thursday.
    • EUROPEAN UNION: The European Commission will announce new initiatives to reconfigure its capital markets union (CMU) project on June 7 to reflect Britain's decision to leave the bloc, a senior commission official said on Thursday.
    • RBS: Fred Goodwin, the former Royal Bank of Scotland RBS.L chief executive, is set to become the first senior banker in Britain to be challenged in court over his role in the financial crisis.
    • The UK blue chip index ended down 0.9 percent on Thursday, underperforming the broader European market as the pound strengthened after data showed consumers are maintaining spending despite inflation worries.
    • For more on the factors affecting European stocks, please click on: cpurl://apps.cp./cms/?pageId=livemarkets
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