4th Aug 2015 05:59
LONDON (Alliance News) - UK stocks are set to open lower Tuesday, continuing their losses from Monday as falling commodities prices continue to weigh on sentiment.
IG says futures indicate the FTSE 100 to open lower at 6,669.0. The index closed down 0.1% 6,688.62 on Monday snapping a run of four consecutive sessions of gains, as weak Chinese economic data and another slump in commodities prices caused London's heavily-weighted resources sector to resume its decline.
Commodities remain the focal point ahead of the open Tuesday, with Brent oil dropping to a fresh six-month low below the USD50 a barrel mark. After the London close Monday, Brent hit a low of USD49.35 a barrel. US benchmark West Texas Intermediate touched a low of USD45.06 a barrel on Monday.
On Wall Street Monday, the DJIA closed down 0.5%, and the S&P 500 ended down 0.3%, as did the Nasdaq Composite.
In Asia on Tuesday, the Nikkei in Tokyo is down 0.3%, the Hang Seng in Hong Kong trades down 0.1%, and the Shanghai Composite is rebounding, up 2.1%.
In the UK corporate calendar, there are half-year results from FTSE 100 constituents Travis Perkins, Meggitt, Standard Life, Direct Line Insurance Group and Fresnillo. There also are interim results from Just Eat, Rotork, Morgan Sindall, Zotefoams, SDL and LSL Property Services.
In a light economic calendar, there are the UK construction purchasing managers' index at 0930 BST, eurozone producer prices at 1000 BST, US ISM New York Index at 1445 BST, and US factory orders at 1500 BST.
By Neil Thakrar; [email protected]; @NeilThakrar1
Copyright 2015 Alliance News Limited. All Rights Reserved.
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