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UK Stocks-Factors to watch on May 3

May 3 (Reuters) - Britain's FTSE 100 index is seen opening 1 point

higher at 7,352 on Friday, according to financial bookmakers.

* HSBC: HSBC Holdings PLC posted a 31 percent rise in first-quarter

profit, beating estimates, bolstered by a surge in income in its core Asian

business and as the London-headquartered bank managed to rein in costs.

* GSK: British drugmaker GlaxoSmithKline Plc said on Thursday that

its three-in-one drug Trelegy met the main goal of a late-stage asthma study,

signalling a possible boost to its lung medicines division that has been hit by

generic competition.

* OIL: Oil prices on Friday were set to fall for the week as surging U.S.

output and an expected supply increase from the Organization of the Petroleum

Exporting Countries (OPEC) weighed on markets.

* GOLD: Gold prices on Friday hovered near a four-month low hit in the

previous session, after the U.S. Federal Reserve dampened expectations of a rate

cut in the near term, boosting the dollar and setting the bullion on course for

a weekly drop.

* The UK blue chip index closed down 0.5 percent on Thursday as copper

miners fell and exporter stocks struggled despite weakness in sterling, while

Metro Bank tanked after an accounting error caused quarterly profit to halve.

* For more on the factors affecting European stocks, please click on:


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(Reporting by Tanishaa Nadkar in Bengaluru)