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FTSE 100 called to open slightly lower

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Britain's blue chip index is being called to open slightly lower this morning as investors absorb news that the eurozone has officially  gone into recession and wait on US budget news.

It comes after a poor day of trading yesterday, which saw the Footsie end 44 points down, at 5,678.

Euro data yesterday showed a contraction of European GDP by 0.1 per cent - the second consequtive quarter in the red.

Meanwhile, the Dow also took on the negative vibe -  clsoing 29 pointsb down at 12,542 as talks continue into how to solve the "Fiscal Cliff" crisis.

Bucking the trend were Asian markets however, particularly in Japan where stocks surged as exporters acted on the yen's recent weakness amid speculation that a December election might bring radical policy change.

The Nikkei 225 is up 194 points, to 9,024, while the Hangh Seng Index is up 21 points, to 21,131.

Chris Weston, of IG Index, commented on today's trading: "Looking ahead to today’s session there is little in the way of economic data heading into the weekend, meaning the prospects for European equities and other risk asset classes will continue to be dictated to by developments surrounding the fiscal cliff and Greece."


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