FTSE expected to open lower on further profit taking

London’s blue-chip stocks look set to start the last session of the trading week on the back foot, extending yesterday’s downturn, with an element of profit taking at play, as was also seen in Asian markets overnight, while US markets were mixed.

US & ASIA

The Dow Jones Industrial Average closed 0.39%, or 85.54 points, higher at 21,796.55, while the S&P 500 fell 0.1%, or 2.41 points, to 2,475.42 and the Nasdaq slumped 0.63%, or 40.56 points, to 6,382.19.

In Asia this morning, the Nikkei 225 was down 0.64% at 19,950.34 and the Hang Seng was 0.63% lower at 26,959.37.

At 6.05am, West Texas Intermediate crude was down 0.22% to $48.93 per barrel and Brent was 0.21% lower at $51.38 per barrel. Gold was also lower, down 0.19% at $1,264.1 an ounce, with silver and copper also softer.

LONDON MARKETS

Final results are expected from Clipper logistics and interim results are due from Barclays, BT Group, International Consolidated Airlines, IMI, Rightmove, UBM, Morgan Advanced Materials, UK Commercial Property Trust and Aberforth Smaller Companies Trust.

Meanwhile, Lonmin is scheduled to release a trading update.

In addition, shareholder meetings are to be held by Amur Minerals, Boxhill Technologies, Bellzone Mining and Red Leopard.

There is little UK economic news of note due today.

Story provided by StockMarketWire.com