UK Stocks-Factors to watch on March 12

March 12 (Reuters) - Britain's FTSE 100 index is seen opening higher on Wednesday, with futures up 0.22%.

* RIO TINTO: Rio Tinto will raise $9 billion in U.S. investment-grade bonds as it seeks to fund its recently-closed buyout of Arcadium Lithium, the miner said.

* DRAX (DRXGF): British power group Drax (DRXGF) said it has secured agreements to provide

434 megawatts of power

, primarily from its pumped storage and hydro plants, from October 2028 to September 2029 for about 24 million pounds ($31.02 million).

* LEGAL AND GENERAL (LGGNF): Legal & General (LGGNF) reported a forecast-beating

6% rise in annual core operating profit

, helped by record volumes of retail annuities sales.

* MAN UTD: Manchester United (MANU) CEO Omar Berrada said there was a risk the club's investment in a new $2.58 billion stadium could impact spending on the squad.

* TARIFFS: Britain's trade minister, Jonathan Reynolds, said he was disappointed the U.S. imposed tariffs on steel and aluminium, while adding that the UK is negotiating a wider economic agreement with the U.S.

* DIRECT LINE GROUP: Shareholders in Direct Line Group have voted in favour of its proposed takeover by larger rival Aviva.

* FCA: Britain's Payments System Regulator will be abolished and its remit absorbed by another financial regulator, the government said.

* ROSEBANK: Rosebank Industries said it was withdrawing its bid to buy U.S.-based Electrical Components International.

* ELECTRICITY: The National Energy System Operator announced that Britain's auction to secure sufficient electricity capacity for 2028/29 has cleared at 60 pounds per kilowatt (kW) per year.

* OIL: Oil prices edged up.

* GOLD: Gold held steady.

* 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)