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.
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