May 17 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening higher on Tuesday, with futures FFIc1 up 0.4%.

* DRAX: British power generator Drax DRX.L has applied to build a new 500 million pound ($613 million) underground pumped storage hydro power station at its existing Cruachan hydro plant in Scotland, the company said on Tuesday.

* RYANAIR: Ryanair RYA.I said on Monday it was impossible to give detailed 2022 guidance beyond hoping for a return to "reasonable profitability" amid uncertainties over COVID-19 and the Ukraine war, knocking its shares despite a smaller annual loss.

* TESCO: Tesco TSCO.L , Britain's biggest supermarket group, has secured an additional 6.6 million pounds ($8.1 million) of support for the country's struggling pig industry, it said on Monday.

* BOE: Bank of England Governor Andrew Bailey said on Monday that the current surge in inflation was the central bank's biggest challenge since it gained independence in 1997, but denied that policymakers had been "asleep at the wheel".

* MCKINSEY: British consumers are reacting to the cost of living crisis by trading down in both stores and products, switching from supermarkets to discounters and from branded to lower priced and private label products, a report from consultants McKinsey said on Monday.

* GOLD: Gold prices were little changed on Tuesday, as a pullback in the dollar supported demand for greenback-priced bullion and countered pressure from a recovery in U.S. Treasury yields.

* UK's blue-chip index rose on Monday, aided by gains in healthcare and resource-linked stocks, though subdued data from China stoked slowdown concerns in the world's second-largest economy and kept sentiment in check.

* UK CORPORATE DIARY: Imperial

IMB.L

Interim Brands

results

Land

LAND.L

FY results Securities

DCC Plc

DCC.L

FY results

Britvic

BVIC.L

Interim

Plc

results

Vodafone

VOD.L

FY results

TI Fluid

TIFS.L

Q1 Trading Systems

update

* For more on the factors affecting European stocks, please click on:

TODAY'S UK PAPERS

> Financial Times

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Reporting by Muhammed Husain in Bengaluru