UPDATE 1-UK Stocks-Factors to watch on May 12

(Adds news items, futures)
May 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 35
points lower at 6,913 on Wednesday, according to financial bookmakers, with
futures FFIc1 seen down 0.12% ahead of cash market open.

* DIAGEO: Diageo DGE.L said it was expecting organic operating profit
growth to be at least 14% in its current fiscal year. * TP ICAP: TP ICAP Plc's TCAPI.L first-quarter revenue fell 9% to £483
million from £530 million a year earlier. * COMPASS GROUP: Compass Group Plc CPG.L said its margins in the third
quarter would improve sequentially, supported by the company's cost cutting
measures after reporting a pandemic-slump in first-half profit. * TUI (LON:TUIT): TUI Group said it was expecting a strong 2021 holiday season and
stuck to its plan to operate at 75% of its pre-pandemic capacity. * UDG HEALTHCARE: Private-equity firm Clayton, Dubilier & Rice (CDR) has
agreed to buy London-listed UDG Healthcare UDG.L for 2.6 billion pounds, the
pharmaceuticals services company said. * CLIMATE: Shareholder advisory PIRC recommended investors vote against
Shell's RDSa.L non-binding resolution on its energy transition strategy on
Tuesday, setting up a showdown at its annual general meeting next
week. * ECONOMY: Britain's economy grew by a stronger-than-expected 2.1% in March
from February, official data showed. * TECH: Britain said a planned new law would see social media companies
fined up to 10% of turnover or 18 million pounds if they failed to stamp out
online abuses such as racist hate crimes, while senior managers could also face
criminal action. * GOLD: Gold prices fell, weighed down by higher U.S. Treasury yields and a
slight rebound in the dollar ahead of the much-awaited U.S. consumer price data
due later in the day. * OIL: Oil prices rose after industry data showed a drop in U.S. crude
inventories, which reinforced OPEC's robust demand outlook. * The UK blue-chip index .FTSE closed 2.6% lower on Tuesday after a sudden
drop in big U.S. tech stocks over inflation concerns. * For more on the factors affecting European stocks, please click on:
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TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB