May 7 - Britain's FTSE 100 index is seen opening

lower on Wednesday, with futures down 0.08%.

* DIAGEO ( DEO ): A new lawsuit accused spirits giant Diageo ( DEO )

of misleading consumers by deceptively labeling some of

its popular tequila products as "100% tequila" despite

containing other alcohols.

* TRADE: The U.S. and Britain have made good progress in

negotiating a trade deal that would likely include lower tariff

quotas on steel and autos, a UK official said.

* OIL: Oil prices rose on signs of weakening production in

the U.S. and higher demand in Europe and China.

* GOLD: Gold prices retreated as optimism over potential

U.S.-China trade talks weakened demand, while investors braced

for the Federal Reserve's policy meeting later in the day.

* METALS: Metals in London were rangebound as investors

awaited a meeting between top U.S. and Chinese trade officials,

as a chance to tone down the ongoing trade war.

* The UK blue-chip index closed flat on Tuesday as

investors assessed the lingering tariff concerns and their

economic impact, with attention shifting to upcoming U.S.

Federal Reserve and Bank of England policy decisions.

* UK CORPORATE DIARY:

JD Wetherspoon JDW.L Q3 Trading Update

Card Factory CARDC.L Full Year Earnings Release

Flutter Entertainment FLTRF.L Q1 Trading Update

Maxcyte MXCT.O Q1 Trading Update

Smiths News SNWS.L Half Year Earnings Release

* For more on the factors affecting European stocks, please

click on:

TODAY'S UK PAPERS

> Financial Times

> Other business headlines

(Compiled by Simone Lobo in Bengaluru)