FTSE preview: More falls for UK shares
The FTSE 100 is seen opening 35-46 points lower today, to add to yesterday's 3% fall, after Asian markiets saw losses overnight.
World stock markets have been spooked by new worries over the global sparked by the emergence of Dubai's debt problems.
The index is seen opening down as much as 0.9% after shares ended at a three-week low yesterday, off 170.6 points at 5,194.1. Investors turned cautious after Dubai said two of its flagship firms planned a delay in repayment of debt.
Shares in Asia Pacific and Japan shed more than 4% overnight, while trading on Wall Street resumes today after being closed for the Thanksgiving holiday.
Trading on the FTSE 100 is expected to be volatile with a lack of economic data or much corporate news from Britain or the United States, although subdued volumes are likely to pick up in the afternoon session after Wall Street resumes trading.
In a further setback for the British economy, finance minister Alistair Darling will downgrade the 2009 economic outlook when he presents his Pre-Budget Report next month but still point to growth resuming at the turn of the year as he predicted in April, a UK Treasury source told Reuters.
UK stocks to watch today are:
LLOYDS BANKING GROUP
The lender's shares trade ex-rights on Friday following overwhelming support for the bank's plans for a £13.5bn cash call. Meanwhile, Chancellor Alistair Darling broke guidelines by not disclosing loans of more than £60bn to Royal Bank of Scotland and Lloyds last year, a top lawmaker said on Thursday.
ASTRAZENECA
The drugmaker plans to move all production of the vital molecules in its medicines mainly to China, the Times newspaper reported.
ROYAL DUTCH SHELL
PetroChina and Royal Dutch Shell have started joint exploration of a shale gas block in China in an effort to find alternative gas sources to meet China's rising demand, the China Petroleum Daily reported on Friday.
STANDARD LIFE
Standard Life Investments said it is raising up to £75m by mid-December for a fund aimed at capturing the recovery in Europe's hard-hit commercial property market.
Carphone Warehouse: The mobile phone retailer reports first-half results.
Vectiura Group: The drug company reports first-half results.
Holidaybreak: The holiday firm posts full-year results.
Hogg Robinson: The business travel firm reports first-half results.
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