UK Stocks-Factors to watch on June 29



June 29 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening lower on Wednesday, with futures FFIc1 down 0.74%.

* OFGEM: British energy regulator Ofgem proposed a package of 20.9 billion pounds ($25.48 billion), including 2.7 billion pounds of upfront funding, unveiling an initial five-year vision for building sustainable and affordable regional energy grids.

* MOONPIG: Online greeting card firm Moonpig's MOONM.L adjusted earnings for the year to end-April fell 19% as the boost from pandemic lockdowns in the previous year faded, but it said on Wednesday it was confident about this year after a good start.

* B&M: British discount retailer B&M BMEB.L on Wednesday reiterated its outlook for fiscal 2023 core profit and reported a dip in first-quarter group sales, reflecting a tough comparison with a year-ago period when consumers stocked up during lockdowns.

* MCBRIDE: British cleaning products maker McBride MCB.L said on Wednesday its bank had waived debt covenant tests until September, as the loss-making group grapples with rising costs and supply chain challenges.

* LOOKERS: Britain's Lookers Plc LOOK.L said on Wednesday it expects annual profit ahead of a prior outlook as margins get a boost from vehicle shortages, although it warned that supply snags are seen continuing for the remainder of 2022 and beyond.

* DE BEERS: The Botswana government and Anglo American Plc's AAL.L unit De Beers Group have extended their agreement for the sale of rough diamond production from its joint venture Debswana by an year to June 2023, the diamond miner said on Wednesday.

* SHELL: Shell Plc SHEL.L said liquefied natural gas (LNG) shipments from its Prelude floating facility off northwest Australia would be disrupted for at least two weeks due to work bans by unions fighting for better pay.

* MEGGITT: Britain said on Tuesday U.S. engineering and aerospace company Parker-Hannifin Corp has addressed competition and national security concerns over its 6.3 billion-pound ($7.67 billion) takeover of UK rival Meggitt Plc MGGT.L .

* DEFENCE: Defence minister Ben Wallace said on Wednesday that Britain will need to bolster its spending on defence if it wanted to maintain a global leadership role after 2024, when his department's current budget allocation will be reviewed.

* GREEN BONDS: Issuers of bonds that raise cash for "green" projects should voluntarily apply industry standards to avoid hoodwinking investors, Britain's Financial Conduct Authority (FCA) said.

* SHOP PRICES: British retailers raised prices at the fastest pace since 2008 this month, driven by the rapidly rising cost of food, according to industry data that showed the extent of the inflation squeeze for households.

* OIL: Oil prices fell after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production.

* GOLD: Gold prices treaded water, with lower U.S. Treasury yields lending support, as bullion's struggle to break out of its range-bound trade continued.

* METAL: London copper prices edged up on Wednesday due to a slight pullback in the U.S. dollar, although fears over a global economic slowdown, higher interest rates and weak economic readings kept investors on the edge.

* FTSE 100: UK's FTSE 100 index hit its highest level in more than two weeks on Tuesday, as commodity stocks led the gains after China's decision to ease some COVID-19 curbs boosted sentiment globally.

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

TODAY'S UK PAPERS

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Reporting by Aby Jose Koilparambil in Bengaluru

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