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FTSE 100 to open lower as Greenspan predicts "Grexit"

Last updated: 05:44 09 Feb 2015 GMT, First published: 06:44 09 Feb 2015 GMT

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London's top-share index is set for a tumble as tensions grow in the negotiations between Greece and the EU over debt negotiations.

Spread betting quotes indicate the FTSE 100 will open around 30 points down from Friday's close of 6,853.

Alan Greenspan, the former head of the US central bank, has said that Greece's exit from the Eurozone is inevitable.

UK chancellor of the Exchequer, George Osborne, said in a RV interview over the weekend that the UK is accelerating contingency plans for a possible Greek exit.

In Asia, the picture is mixed, with Hong Kong and Australia losing ground, while the benchmarks are higher in Japan and Shanghai.

The Hang Seng index is off 88 points at 24,592 while in Tokyo the Nikkei 225 is up 63 at 17,711.

US benchmarks closed lower on Friday, with the S&P 500 down 0.3% at 2,055.

On the corporate front, Randgold Resources (LON:RRS) sends out fourth quarter results today.

It’s one of the few companies in the mining sector that can be viewed relatively optimistically at the moment.

Despite the steep fall in the price of gold since a few years ago, the group has continued to invest in facilities and new resources. This has led to the company setting new production records each quarter over the last year.

“We shouldn’t be surprised to see more of the same in these results and the recent moderate recovery in the price of gold should help its margins further,” said broker The Share Centre.

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