FTSE preview: Euro woes to dampen stocks
The FTSE 100 is expected to shed 27-29 points at the open as worries about a eurozone debt restructuring is likely to keep investors cautious.
Debt woe: Eurozone crisis is preoccupying traders
The blue-chip index dropped 19.09 points to close at 5,925.87 at the end of last week.
Once again commodity stocks are likely to be the most significant drag on the index, with crude and metal prices weaker pressured by a rise in the dollar.
Uncertainty on aid for Greece and other indebted euro zone countries was exacerbated after IMF chief Dominique Strauss-Kahn was charged with sexual assault on the weekend in New York.
'With all this anxiety it seems as though the equity markets are starting to show their true colours and age after early highs in May,' said Hamzeh Ajjour, dealer at London Capital Group.
Eurozone finance ministers are likely to back a bailout package for Portugal on Monday, with new conditions set by Finland.
The meeting was also expected to pressure Greece to announce more austerity steps to secure further emergency funding.
BP: The oil major is back in last-ditch talks to buy out the Russian partners in its joint venture TNK-BP Ltd, in a deal that could be worth $30bn or more, the Wall Street Journal reported on Sunday.
Royal Bank of Scotland: Britain may start selling its stakes in banks bailed out during the credit crisis with a £5bn Royal Bank of Scotland share sale as early as the first half of 2012, the Sunday Telegraph said.
London Stock Exchange: A group of Canadian banks and pension funds are hoping their C$3.6bn ($3.7bn) offer for TMX Group, subject of a friendly bid from LSE, will keep the nation's largest stock market from falling into foreign hands.
Kesa Electricals: The electricals retailer may sell its loss-making Comet chain in the UK and delist from the London Stock Exchange, freeing it to concentrate on its profitable French unit, the Sunday Times reported.
Rolls-Royce: Daimler and Rolls-Royce have signalled they are willing to raise their bid for German engine maker Tognum, bringing a takeover deal closer although some shareholders may hold out for more.
Southern Care Homes: The struggling British care home operator is exploring the potential sale of the group as it seeks a cash injection, the Sunday Telegraph reported.
Cranswick: The sausage skin maker releases full-year results.
ITE Group: The conference organiser releases first half results.
RM: The education software supplier releases its first half results.
Xchanging: The outsourcing company releases a trading update.
Most watched Money videos
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Blue Whale fund manager on the best of the Magnificent 7
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Mail Online takes a tour of Gatwick's modern EV charging station
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Diploma shares top FTSE 100 risers after firm raises...
- Evri issues warning over huge rise in smishing scams -...
- UK Government sells another chunk of NatWest shares
- Anglo strikes out alone - but can it survive a bid...
- London's 'Mr Super Prime' to take centre stage in...
- Police not interested in shoplifting, says M&S as thefts...
- Digital marketing firm Mission Group snubs takeover offer...
- Will Nationwide pay out a £100 loyalty bonus again this...
- Anglo American rejects rival BHP's £34bn second takeover bid
- Taxpayer stake in NatWest falls below 27% as Treasury...
- Heathrow takes fresh swipe at the tourist tax as it...
- Gamestop shares double as 'meme stock' social media...
- European-made electric car batteries could cut carbon...
- MARKET REPORT: FTSE falters despite UBS call to buy...
- BUSINESS LIVE: UK wage growth higher than forecast; Anglo...
- A MILLION more people have taken on mortgages they will...
- Used car marketplace Cazoo looking for buyers as it nears...
- I repeatedly bail out my partner from his financial...