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Pharma & Biotech

FTSE100 called to open lower after gains Monday

Britian's blue chip index is poised to start lower Tuesday despite closing out yesterday nudging towards record highs.

The FTSE 100 closed at 6,866 but today financial spreadbetters at IG index are calling it to open around 11 points lower.

Trading in Asia overnight in contrast showed more bullish tones. The Nikkei 225, Japan's benchmark , was up 214 points, although the Shanghai Composite Index did fall 34 to stand at 2,043.

Chris Weston, at IG, said markets recently have shown signs that they are less dependent on the actions of central banks.

"It’s good to see markets use positive news as their main input for sentiment, rather than second-guess central banks," he said.

"Global earnings have been good from all parts and this has been the key input, which of course should always be the case, as over the longer-term share prices should generally follow earnings and cash flows.

"Unfortunately over the years sentiment around monetary policy, mainly from the more proactive central banks (i.e. the Fed, PBoC and BoJ), has been the main top-down driver."

On the corporate front today, there are a clutch of companies reporting including BATM Advanced Communications (LON:BVC), Capital & Counties Properties (LON:CAPC), Croda International (LON:CRDA), CRH (LON:CRH), GKN (LON:GKN) and Ladbrokes.

In UK economic news, there is data on Mortgage Approvals and Inflation Report Hearings.