UK Factors-FTSE seen opening higher

Oct 15 Britain’s FTSE 100 index is seen opening up by 24-32 points, or 0.4-0.5 percent higher on Thursday, according to financial bookmakers. For more on the factors affecting European stocks, please click on.

* The UK blue chip index closed down 1.2 percent at 6,269.61 points on Wednesday.

* BANKS: Britain on Thursday announced it was scrapping plans that would treat senior bankers as ‘guilty until proven innocent’, in a move likely to infuriate regulators but ease industry fears that tough new rules will scare top talent away from London.

* POLITICS/CORBYN: Britain’s newly-elected opposition leader, socialist Jeremy Corbyn, suffered the first rebellion against his leadership on Wednesday in a parliamentary vote that exposed divisions over his economic strategy and policymaking process.

* MARKS & SPENCER : British clothing and food retailer Marks & Spencer is to launch a new members club and card scheme called “Sparks”, it said on Thursday, seeking to build a closer relationship with its customers so they spend more both in shops and online.

* RIO TINTO : Mining group Rio Tinto said on Wednesday it has no plans to hedge its exposure to commodity markets even as energy and raw material prices tumble, intensifying an industry crisis.

* ANGLO AMERICAN /GLENCORE : Chile’s second-biggest copper mine Collahuasi, owned by Anglo American Plc and Glencore Plc has postponed expansion plans, on top of its previously announced cuts, as it faces a six-year low in the price of the base metal.

* UK ADVERTISING: A key British marketing survey cut its forecast for 2015 advertising spend on Thursday as heightened concerns about the state of the global economy prompted companies to rein in spending.

Source: Reuters

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