FTSE preview: Barclays reports, inflation due
The FTSE 100 is seen opening flat, continuing Monday's cautious performance after mixed showings overnight on Wall Street and in Asia, with investors awaiting the latest British inflation data.
Taking stock: Inflation data will set the mood.
The UK blue chip index closed 2.81 points, or 0.1% lower on Monday at 6,060.09, as weakness in financials on revived worries over Europe's sovereign debt situation prevailed over a rally by miners on upbeat economic data from China.
US blue chips slipped back on Monday, although gains by energy and commodity shares saw the broader S&P 500 post modest gains, but the lowest volume so far this year indicated the equity rally may be near a top.
Asian stocks rose slightly on Tuesday after China's closely-watched inflation data failed to surprise markets.
Chinese consumer price inflation accelerated to 4.9% in the year to January, matching the widespread figure that swirled through markets on Monday, but lower than the earlier consensus forecast of 5.3%.
Analysts remained wary about a build-up in China's price pressures, saying Beijing could further tighten monetary policy, given continued rises in food prices.
British annualised CPI inflation, due at 09.30, is seen rising to 4.0% in January, up from 3.7% in December, though the month-on-month increase is seen at 0.1%, down from 1.0% rise in December.
Across the Atlantic, January US retail sale numbers will be released, with the February Empire State Index due at the same time.
There will be results today from Barclays, British Land, IntercontinentalHotels, Pennon Group, Yell Group, Premier Foods, Dominos Pizza, Albemarle & Bond, Micro Focus International, Quarto Group and Electric Word.
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