Only registred members can create thier own customized alerts.
Market Preview is published daily an hour before trading kicks off on the London Stock Exchange, giving investors a roundup of macroeconomic and corporate news that is likely to move the markets along with the expected opening level of the FTSE 100.
MARKET PREVIEW: FTSE 100 seen flat; Greek talks eyed
The FTSE 100 is headed for a flat start following Friday’s rally, which saw the UK’s blue chip index gain 105 points (1.8 percent) to close at 5,901.
Traders will focus on the situation in Greece, where policymakers will resume talks over another round of austerity measures, which is necessary for the debt-ridden country to secure the next €130 billion bailout package from the EU and the IMF.
Prime Minister Lucas Papademos said yesterday that he and the leaders of three parties managed to agree on budget cuts that amount to 1.5 percent of the GDP and well as a framework for bank recapitalisations.
The Greek government must tell the EU today whether it agrees to the conditions of the next financial aid package.
“Greek private sector debt talks have taken a backseat to crunch talks on the next aid tranche... Until now, Athens’s requests to have the terms of the next bail-out package eased have fallen on deaf ears amongst the Troika, and the situation is being compounded by a lack of cooperation between Greek politicians,” said analyst at forex.com Chris Tedder.
Today’s macroeconomic calendar is very thin with no notable data due to be released in Europe and the US.
Asian stocks were headed in different directions today. Japan’s benchmark Nikkei 225 index stood 97 points (1.1 percent) higher at 8,929 at the end of the session, while China’s Shanghai Composite Index dropped 10.5 points (0.45 percent) to 2,319 just before close of play.
Register here to be notified of future articles.
