FTSE preview: EU debt fear dents shares
The FTSE 100 index is expected to fall this morning with gains from lower oil prices outweighed by concerns over debt problems in Europe.
Ups and downs: Shares will strugle once again to make gains.
The UK blue chip index looks set to shed 14 to 20 points, or as much as 0.3%, according to financial bookmakers, after it closed 0.98 point firmer at 5,974.76 on Tuesday.
In terms of domestic economic data, UK January trade figures are scheduled for release.
Traders said a pullback in oil prices was likely to help sentiment. Brent crude dropped for a third day, dipping below $113 on Wednesday, after reassurances from OPEC members of ample spare capacity eased anxiety about export losses from Libya, Africa's third-largest oil producer.
But investors are likely to be preoccupied by euro zone debt issues. 'The success of the planned €1bn Portuguese bond auction slated for Wednesday will... be worth watching and any worries here could reignite those fears over the fringe euro zone economies,' Terry Pratt, an institutional dealer at IG Markets, said.
German January industrial production data will also come under investor scrutiny.
Across the Atlantic, US January wholesale inventories data is due later. Ex-dividend factors will knock 11.69 points off the FTSE 100 index on Wednesday, with BHP Billiton, British American Tobacco, Hammerson, Serco, Shire and Standard Chartered all losing their payout attractions.
There will be results today from Tullow Oil, Prudential, Melrose, Restaurant Group, Yule Catto & Company, Ark Therapeutics, Interserve, Johnston Press and Lookers.
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