FTSE 100 preview: Miners down; CPI due
The FTSE 100 is seen falling on Tuesday, tracking declines overnight on Wall Street, with weakness in metals prices likely to impact mining stocks as investors wait for full-year results from index heavyweight Vodafone.
Market watcher: Inflation data and Vodafone results will set the agenda today.
The UK blue chip index looks set to shed 35 to 46 points, or as much as 0.8%, according to financial bookmakers, after it ended down 2.18 points at 5,923.69 on Monday, well off the session low of 5,862.16.
On the domestic macroeconomic front, UK April CPI data is due, and is forecast to climb to 4.2% after March's surprise drop to 4.0%, highlighting the task facing the Bank of England as it endeavours to balance rising prices with the threat of further economic stagnation.
Across the Atlantic, US April housing starts data is scheduled for release, with US April industrial output figures due.
London copper fell on Tuesday on the back of a firmer dollar, and with investor risk appetite tempered by concerns over the euro zone debt situation.
Euro zone finance ministers approved a €78bn rescue package for Portugal, and said they would consider asking Greece's private creditors to extend the maturities on their bonds, giving Athens extra time to pay down its debt.
Russian state-controlled oil company Rosneft was unwilling to extend a deadline to complete a $16bn share swap with BP, the Financial Times reported on Tuesday, citing a source close to Rosneft.
The actions of HBOS at the height of the financial crisis are understood to be at the centre of Lloyds Banking Group's admission in a US regulatory filing that it is one of a group of banks being investigated over alleged manipulation of the Libor borrowing rates, the Daily Telegraph said.
There will be results today from Vodafone, with updates also coming from Aviva, Capital Shopping Centre, Essar Energy, Avis Europe, Babcock International, Derwent London, Enterprise Inns, and Renishaw.
Most watched Money videos
- How to invest for income and growth: SAINTS' James Dow
- Blue Whale fund manager on the best of the Magnificent 7
- Land Rover unveil newest all-electric Range Rover SUV
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Mini Cooper SE: The British icon gets an all-electric makeover
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- CITY WHISPERS: Bill Ackman's cerulean eyes charm...
- Britain's nascent battery industry receives shot in the...
- Helium and hydrogen company set to join stock market in...
- Don't try to be a super woman - build a dream team! The...
- The plant that can add £10,000 to the value of your home...
- Cost-of-living crunch wipes shine off Thomas Sabo jewellery
- Where is Labour's 'white heat' revolution to revive...
- FTSE 100 hits an all-time high - but remember the stock...
- British businesses awash with 'accidental' bosses who...
- Shipping broker Clarksons on list of shame after...
- North Sea projects worth £21bn put at risk by Labour: Tax...
- Virgin Money's biggest independent investor...
- JOHCM UK EQUITY INCOME FUND: Rate cuts... and a spending...
- TONY HETHERINGTON: Boss behind firms fined £340k for more...
- Hollywood silly money? I'd only have stuffed it under the...
- MIDAS SHARE TIPS UPDATE: Wind is turning in Octopus...
- MIDAS SHARE TIPS: Why it soon won't be hip to give the...
- Cash in on the Northern property boom as our experts...