UK Stocks-Factors to watch on July 7



July 7 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 1.11%.

* SHELL: Shell SHEL.L said it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia's invasion of Ukraine.

* LEGAL & GENERAL: British insurer LGEN.L expects to deliver double-digit growth in cash and capital generation in the first half of the year and its operating performance is on track, it said.

* PERSIMMON: PERSIMMON PSN.L forecast robust demand for new homes, dispelling fears of an impending slowdown in the housing sector, although it said that volumes were impacted in the first half.

* ENTAIN: Entain ENT.L said it expects its online gaming revenue to be flat this year, weighed by customer spending taking a hit due to a cost-of-living crunch.

* CURRYS: Currys CURY.L warned of lower annual profit, and said it expected the new financial year to be difficult due to uncertain consumer spending.

* DRAX GROUP: Drax Group Plc DRX.L said it had entered into an agreement with National Grid NG.L at the British government's request and now the power generator's two coal-fired units will be available to provide a "winter contingency" service.

* CMA-MICROSOFT: Britain's antitrust watchdog said it had started an investigation into Microsoft Corp's MSFT.O $68.7 billion deal to buy "Call of Duty" maker Activision Blizzard Inc ATVI.O .

* ULTRA-COBHAM: Britain accepted undertakings from both Ultra Electronics ULE.L and rival Cobham, moving a step closer in approving the latter's acquisition of the London-listed defence firm, after having raised security concerns over the deal.

* BA: British Airways will cut more flights during the crucial summer holiday months, as airlines and airports across Europe struggle to keep up with strong post-pandemic demand from holidaymakers.

* FTSE 100: UK stock markets on Wednesday rebounded from a sharp sell-off, with exporter-heavy FTSE 100 benefiting from a weakness in sterling as economic worries were compounded by a crisis in Boris Johnson's government.

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

TODAY'S UK PAPERS

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Reporting by Sinchita Mitra and Amna Karimi in Bengaluru

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