FTSE seen opening up

Meanwhile, the Financial Times said banks, fund managers and politicians were to meet on Monday to talk through some of the flaws and inefficiencies of the peculiarly British way that companies raise capital through rights issues.

UK stocks to watch on Monday are:

ROYAL BANK OF SCOTLAND The bank has ruled out any sale of its stake in Bank of China <3988.HK> <601988.SS>, the Financial Times said.

GLAXOSMITHKLINE Actelion said it and GlaxoSmithKline enter into exclusive collaboration to realise the full potential of almorexant in sleep disorders and other conditions.

It also said Glaxo would receive exclusive worldwide rights to co-develop and co-commercialise almorexant.

ITV Endemol’s co-founder refused to rule out a bid for ITV, the Financial Times said.

MEDIA

Marketing budgets in Britain were cut for the third consecutive quarter and the rate of decline is "gathering to a pace not seen since the immediate aftermath of the 9/11 terrorist attacks," the Financial Times said.

SABMILLER U.S. brewer Anheuser-Busch agreed to a sweetened $50 billion takeover by Belgium-based InBev , sources familiar with the situation said on Sunday, creating the world’s largest beer maker.

WOLSELEY The building materials distributor will this week outline plans to cut hundreds of jobs due to trading conditions that are bad enough to warrant a profit warning, the Sunday Telegraph reported.

DIAGEO Shares in Diageo, owner of drinks brands such as Smirnoff and Guinness, could rise as much as 30 percent within a year according to a Barron’s report citing a Banc of American analyst.

BRITISH AIRWAYS , VIRGIN ATLANTIC [VA.UL > There will be "spectacular casualties" in the airline industry over the next 12 months, billionaire Richard Branson, the owner of Britain’s No. 2 long-haul airline Virgin Atlantic, was quoted as saying on Saturday.

ROLLS-ROYCE More than $100 billion of aircraft orders could be cancelled or postponed in the next couple of years as the high price of fuel drives airlines into bankruptcy or forces them to cut spending, the Times reported.

BRITISH ENERGY Shareholders in British Energy will meet in Scotland this week with the future of the nuclear generator hanging on a battle of wills between the board and EDF over the French company’s bid for BE, the Guardian reported.

LLOYDS TSB LDC, Lloyds TSB’s private equity arm, is to take its first steps overseas, opening offices in Hong Kong, mainland China and India to help its portfolio of 60 UK-based companies expand in Asia, the Financial Time said.

REED ELSEVIER The Anglo-Dutch publisher has begun searching for a successor to its long-serving chief executive, Crispin Davis, British newspapers reported on Sunday.

PETROFAC A consortium of British-based oil services company Petrofac and Indonesian engineering company IKPT provisionally won a contract to build an LNG plant in Algeria, government newspaper El Moudjhaid said on Sunday.

ROYAL DUTCH SHELL The oil major will pull out of Zimbabwe, a spokesman for the company told Dutch news agency ANP on Friday.

(Reporting by Dominic Lau)