UK Stocks-Factors to watch on Feb 2

Feb 2 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 57 points higher at 7,524.5 on Wednesday, according to financial bookmakers.

* GLENCORE: Miner and trader Glencore GLEN.L said on Wednesday its cobalt output rose 14% in 2021, boosted by the limited restart of production at the world's largest cobalt mine, Mutanda, in south-east Democratic Republic of Congo.

* VODAFONE: Britain's Vodafone VOD.L said it was on track to meet its full-year guidance after reporting a 2.7% rise in third-quarter group service revenue, with growth in both Europe and Africa.

* SEVERN TRENT: Severn Trent Plc SVT.L said on Wednesday it was on track to invest over 500 million pounds ($676.15 million) in a programme to improve river quality, after Britain's Environment Agency fined it for illegal sewage discharges into watercourses in December.

* SHELL: Shell SHEL.L said on Tuesday it was re-routing oil supplies to other depots following a cyberattack on two subsidiaries of German logistics firm Marquard & Bahls this week.

* GSK: GlaxoSmithKline GSK.L announced a settlement worth $1.25 billion between its ViiV Healthcare and Gilead Sciences Inc GILD.O on Tuesday in relation to patent violations by Gilead's Biktarvy, a medicine to treat human immunodeficiency virus.

* ECONOMY: British shoppers were hit by the biggest increase in prices charged by major retailers in more than nine years in January, according to a survey that added to signs of accelerating inflation momentum.

* OIL: Oil prices climbed toward last week's seven-year highs as a draw in U.S. crude stocks confirmed strong demand and a lack of supply, but investors remained cautious ahead of an OPEC+ meeting later in the day.

* Mining and bank stocks supported London's FTSE 100 on Tuesday as metal prices and bond yields rose ahead of a widely anticipated Bank of England meeting later in the week.

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


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Reporting by Sinchita Mitra in Bengaluru; Editing by Shailesh Kuber

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