FTSE 100 preview: Middle East oil fear
The FTSE 100 is expected to suffer falls today as strife in oil producing regions pushed up the price of crude and kept investors wary on buying further into riskier assets.
Fear: Unrest in the Middle East has pushed prices down.
The blue-chip index is seen falling as much as 0.3% after it edged 0.1% lower on Friday to close at 6,082.99.
Anti-government protesters rallied in Libya at the weekend, tribal leaders spoke out against leader Muammar Gaddafi, and army units defected to the opposition as oil exporter Libya endured one of the bloodiest revolts to convulse the Arab world.
Brent crude oil futures and US crude futures both vaulted around $1/bbl to $103.50 and $87.31 per barrel respectively, while gold prices inched higher, adding to last week's gains of nearly 3%.
With an absence of UK data and with Wall Street closed for a public holiday, investors will look to eurozone flash PMI data from February for clues on the state of the global economy.
There will be updates today from John Wood Group, Hammerson, Devro, Helphire, Lancashire Holdings, Mondi and XP Power.
Most watched Money videos
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Will the high-flying US stock market stumble if rate cuts don't arrive?
- How to invest for income and growth: SAINTS' James Dow
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Blue Whale fund manager on the best of the Magnificent 7
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mini celebrates the release of brand new all-electric car Mini Aceman
- MIDAS SHARE TIPS UPDATE: Wind is turning in Octopus...
- British businesses awash with 'accidental' bosses who...
- CITY WHISPERS: Bill Ackman's cerulean eyes charm...
- Shipping broker Clarksons on list of shame after...
- Cost-of-living crunch wipes shine off Thomas Sabo jewellery
- TONY HETHERINGTON: Boss behind firms fined £340k for over...
- A good week - not before time, but let's not get carried...
- Hollywood silly money? I'd only have stuffed it under the...
- As world lurches from crisis to crisis, experts share...
- 86-year-old Peter's woes with a faulty smart meter that...
- Virgin Money's biggest independent investor...
- Britain's nascent battery industry receives shot in the...
- Helium and hydrogen company set to join stock market in...
- Where is Labour's 'white heat' revolution to revive...
- JOHCM UK EQUITY INCOME FUND: Rate cuts... and a spending...
- North Sea projects worth £21bn put at risk by Labour: Tax...
- MIDAS SHARE TIPS: Why it soon won't be hip to give the...
- Ikea pushes back opening of its Oxford Street store to...