UK Stocks-Factors to watch on July 31 (updated)
UPDATE 1-UK Stocks-Factors to watch on July 31 Adds news items, updates futures
July 31 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Friday, with futures FFIc1 up 0.2%.
* BP: BP BP.L launched launched a formal sale process for its North Sea business as new Chief Executive Officer Meg O'Neill accelerates a sweeping portfolio overhaul aimed at cutting debt and simplifying the oil major.
* IAG: IAG ICAG.L reported a 16% drop in second-quarter profit, weighed down by soaring fuel costs and weak travel demand linked to the Middle East conflict.
* SHELL: Shell SHEL.L said it had agreed to sell its unit BG Cyprus to Hungarian oil and gas firm MOL Group MOLB.BU for up to $720 million.
* NATWEST: NatWestNWG.L reported a better than expected first-half operating profit before tax of £4.3 billion, as it grew income while keeping costs under control.
* TAYLOR WIMPEY: Taylor Wimpey TW.L cut its annual UK home completions forecast as affordability concerns and geopolitical uncertainty weighed on demand.
* PEARSON: Pearson PSON.L said it was on track to meet 2026 guidance, helped by growth in its virtual learning division which provides online teaching services and technology.
* ITV: ITVITV.L said it had a "solid" first half, with the football World Cup driving 3% growth in advertising and record viewing figures.
* SAINSBURY: Sainsbury SBRY.L said it had agreed to sell digital retailer Argos to Swift Partners for at least 120 million pounds.
* HOUSEPRICES: British house prices rose for the first time in three months in July.
* HSBC: HSBC HSBA.L, 0005.HK is selling its A$36 billion Australian home and personal loan book to global asset manager Blackstone BX.N, in the world's largest-ever home loan portfolio transaction.
* IG GROUP: IG Group IGG.L said it has agreed to acquire U.S. daily fantasy sports and prediction markets operator Underdog for up to $1.3 billion, deepening its push into the fast-growing U.S. retail trading market.
* BUSINESS SENTIMENT: British businesses turned more confident about the economic outlook earlier this month, reflecting a brief fall in energy prices after a ceasefire in the Iran war, a survey by Lloyds showed.
* COMMODITIES: Oil and gold prices fell, while copper prices firmed.
* For more on the factors affecting European stocks, please click on: LIVE/TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB
(Compiled by Neeshita Beura and Megha Kumari in Bengaluru)