On Tuesday, Britain’s FTSE 100 is likely to open 3 to 8 points lower or 0.1%, as the effect of the US Federal Reserve monetary stimulus seems to wear off after the UK blue chip index closed at 5,893.52 points on Monday, down 22.03 points, or 0.4%.
The stock market prices fell on Monday, wiping out nearly one-third of the previous session’s high. Today, miners are likely to experience tension as copper prices fell for a consecutive second session, as the news of US stimulus began to fade away. Chinese traders were defiant to chase prices that hit the highest since May, last week.
BAE Systems and EADS seem to almost give up on their ambitious merger that would create a new European defence giant as national concerns heightened over security and jobs, as the government’s demands don’t seem to end.
One of Prudential’s unit sold a total of 2.65 million shares in Singapore drinks and property conglomerate Fraser and Neave, after the shares hit a record high last week following an acquisition by Thai billionaire Charoen Sirivadhanabhakdi.
Three banking sources said on Monday that Bahrain Telecommunications Co is negotiating with Cable & Wireless Communications to buy its assets in Monaco and a host of island nations, a deal which is touted to be worth around $1 billion.
Today, the stock market will see first half results of Charlemagne Capital, Corac Group and Surgical Innovations Group. Power Ventures, Vectura Group will hold their annual general meeting. Wilmington Group will announce its preliminary results.