FTSE preview: N Korea adds to Ireland worry
The FTSE 100 index is seen falling on Tuesday, as European debt contagion fears remain to the fore, and after North Korea fired dozens of artillery shells at a South Korean island.
Taking stock: markets are expected to be spooked by news from Ireland and N Korea.
The UK blue chip index looks set to shed 30 points, or 0.5%, according to one financial bookmaker, after it ended down 52 points, or 0.9%, at 5,680.83 on Monday, its lowest close since October 29.
'The (South Korea news) will undermine any positive sentiment that's out there - it's just another worry. It's going to be a slow news week anyway, so anything that's bad that comes up will have an impact,' Mic Mills, head of electronic trading at ETX Capital, said.
No domestic economic data is scheduled for release on Tuesday.
Irish Prime Minister Brian Cowen defied mounting pressure to quit on Monday, saying he would stay in office until parliament passed an austerity budget needed to secure an IMF/EU bailout, then call an early election.
European partners and the International Monetary Fund agreed in principle on Sunday to rescue Ireland with an expected €80bn to €90bn in loans to tackle a banking and budget crisis.
On the other side of the Atlantic, the first revision for US third quarter GDP and US October existing home sales data are due, with the latest FOMC meeting minutes later.
Qantas will resume flying Airbus A380 superjumbos this week on a limited basis, giving Airbus and engine maker Rolls-Royce a confidence boost after an engine failure crippled a jet with 466 people this month.
M&G, the fund management arm of Prudential, is to play banker to Taylor Wimpey, helping the embattled housebuilder to complete a crunch refinancing deal, the Times said.
There will be results today from Severn Trent, Bluebay Assert Management, Caledonia Asset Management, De La Rue, Homeserve, Intermediate Capital Group and Mitchells & Butlers.
Reader service: Free brochure guides
Completely free insider guides on the latest investing trends...
Most watched Money videos
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Leapmotor T03 is set to become Britain's cheapest EV from 2025
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Mini celebrates the release of brand new all-electric car Mini Aceman
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Mail Online takes a tour of Gatwick's modern EV charging station
- Mercedes has finally unveiled its new electric G-Class
- The £60bn foreign takeover frenzy: Royal Mail just the...
- Almost 80% of pension savers are raiding their pots early...
- British tech firm Raspberry Pi eyes £500m London float in...
- Future shares jump after publisher declares £45m share...
- Ambrosia owner Premier Foods profits boosted by...
- EasyJet boss to step down as airline reveals it raked in...
- BT Group ups dividend despite losing almost...
- Watches of Switzerland defies luxury slowdown with...
- United Utilities revenues near £1.9bn thanks to higher...
- Sage Group shares suffer 'hyperbolic' sell-off as group...
- Drivers are being stung at the pumps by fuel retailers...
- Reality TV stars charged by City watchdog over...
- Trading blows over Israel: How global commerce is being...
- BUSINESS LIVE: BT to boost free cash flow; EasyJet CEO to...
- Barclays and HSBC cut mortgage rates: Is the tide turning?
- Superdrug unveils plans to open 25 new stores this year -...
- America's latest inflation figures are a gift for Andrew...
- Electric car quotas risk creating 'volatility and...