UK Stocks-Factors to watch on March 29
March 29 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening higher on Tuesday, with futures FFIc1 up 0.4%.
* GAS: With Britain among the Western countries scrambling to find alternatives to Russian energy, an industry group has warned the country requires big investment in offshore wind power and risks even greater dependence on energy imports as its own oil and gas supplies shrink.
* ASDA: Asda said on Monday it was targeting regaining its status as Britain's No. 2 supermarket group as it reported a 42% jump in 2021 operating profit and launched a value range for cash-strapped shoppers.
* BUDGET: British finance minister Rishi Sunak on Monday defended the tax cuts he announced last week, after they were widely criticised for not helping the poorest households through the most severe hit to living standards since at least the 1950s.
* P&O FERRIES: Britain said on Monday it will force ferry operators docking in its ports to pay the minimum wage as it stepped up pressure on P&O Ferries to rehire 800 workers who the company fired without notice in favour of cheaper staff.
* OIL: Oil prices dropped, extending losses from the previous day as Ukraine and Russia headed for peace talks and on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases.
* GOLD: Gold prices were flat as the U.S. dollar held firm at a three-week high scaled in the previous session and yields climbed, while investors refrained from making big bets ahead of Russia-Ukraine peace talks starting later in the day.
* London's FTSE 100 ended lower on Monday, as gains in consumer staples on the back of weaker pound were countered by weaker energy stocks as oil prices fell on China demand worries.
* UK CORPORATE DIARY: Bellway
A G Barr
* For more on the factors affecting European stocks, please click on:
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Reporting by Muhammed Husain in Bengaluru
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