12th Aug 2014 06:40
LONDON (Alliance News) - UK share prices are expected to open relatively flat Tuesday following mixed performances by US and Asian markets.
Futures indicate the FTSE will open fractionally lower down 0.1% at 6628.0
Markets on Monday made strong gains on the back of the news of Russia's withdrawal of troops from the Ukrainian border, which signified a possible easing of tensions in the region. However, CMC Markets analyst Michael Hewson says that concerns still remain in the region after Ukrainian officials claimed that 45,000 Russian soldiers remain near the border, a claim supported by the head of NATO, Anders Rasmussen.
The morning economic highlight is the release of the German and eurozone ZEW surveys of economic sentiment at 1000 BST. Sentiment has been on a steady decline so far this this year, with German investors becoming particularly pessimistic as the sanctions on Russia begin to bite. The German ZEW has fallen from a peak of 62.0 in December last year to a recent low of 27.1 in July. Tuesday's print is expected to show a further fall to 18.2 in August.
The eurozone ZEW is expected to slip to 41.3 in August from 48.1 in July.
"These terrible predictions not only show you how negatively people see the European Central Bank measures and the economic outlook as a whole, but they also show you the level of fear that retaliatory Russian sanctions are causing to Germany," says James Hughes, chief market analyst at Alpari.
Just Eat has released it's maiden interim results since its April flotation which shows a 58% jump in revenue since last year. The stock put in a strong performance on Monday, gaining 4.5%, but remains almost 16% below its IPO price of 260p.
Serco is another company which has released interim results while also saying that Angus Cockburn will join as new CFO at the end of October from Aggreko. Serco CEO Rupert Soames recently moved from Aggreko himself.
Interim results have also been released from Ladbrokes and Prudential.
By Neil Thakrar; [email protected]
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