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
- Ray Massey walks us through the new Ferrari 12Cilindri
- Mail Online takes a tour of Gatwick's modern EV charging station
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- Land Rover unveil newest all-electric Range Rover SUV
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Blue Whale fund manager on the best of the Magnificent 7
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Digital marketing firm Mission Group snubs takeover offer...
- Santander offers £175 to switch your current account -...
- Anglo strikes out alone - but can it survive a bid...
- Anglo American rejects rival BHP's £34bn second takeover bid
- Police not interested in shoplifting, says M&S as thefts...
- Currys shares surge after profit guidance upgrade as...
- Heathrow takes fresh swipe at the tourist tax as it...
- Cheaper energy deals could be back by winter as Ofgem...
- Car salespeople reveal their insider tips to buy and sell...
- London estate agent known as Mr Super Prime to star in...
- Headlam does not expect market growth 'until 2025'
- MARKET REPORT: FTSE falters despite UBS call to buy...
- Gamestop shares double as 'meme stock' social media...
- BUSINESS LIVE: UK wage growth higher than forecast; Anglo...
- US owner of Boots steps up efforts to find a buyer for...
- Virgin Money UK warns of pressure on profits ahead of...
- Investors ramp up bets against BT as new boss prepares to...
- Vodafone boss says 'more needs to be done' in...