11th Feb 2015 07:01
LONDON (Alliance News) - London markets set to open unchanged Wednesday, as investors await the outcome of the negotiations between Greece and European authorities over the country's financial needs.
IG futures indicate the FTSE 100 to open flat at 6,828.9. The index closed up 0.5% at 6,782.55 on Tuesday, as investors looked forward to the Eurozone finance ministers meeting taking place Wednesday, where Greece's financial needs will be deliberated.
Wall Street ended higher Tuesday. The DJIA closed up 0.8%, the S&P 500 ended up 1.1%, and the Nasdaq Composite finished up 1.3%.
In Asia on Wednesday, the Hang Seng trades down 0.9%, while the Shanghai Composite is trading higher 0.3%. Tokyo markets are closed for the National Foundation Day holiday.
Brent crude is quoted at USD56.63 a barrel Wednesday, and US benchmark West Texas Intermediate is quoted at USD50.43 a barrel. Gold is quoted early Wednesday at USD1,237.90 an ounce.
In the corporate calendar for Wednesday, FTSE 100 constituents ARM Holdings, Reckitt Benckiser and Tullow Oil will issue full-year results, while Glencore will provide a fourth-quarter production update. In the FTSE 250, Reckitt spin-off Indivior also is due to provide full-year results, as is Telecity, while management statements are due from Thomas Cook, Homeserve, QinetiQ, Electrocomponents, Redrow and Dunelm.
Sky and BT are likely to attract early attention following the announcement of English Premier League football broadcast rights after the market close on Tuesday. The GBP5.13 billion price tag for three-year package was significantly more than analysts were expecting.
In the economic calendar, the US monthly budget statement for January is at 1900 GMT.
By Daniel Ruiz; [email protected]
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