City sources predict the FTSE 100 will open down eight points from Friday's close of 5,742, tracking declines seen in Asia overnight and in the US at the end of last week. Concerns over Spain look set to persist this week, with investors expected to pour over the findings of the private-sector audit of the country's financial system. There is also some concern regarding a possible downgrade of the country's debt rating by Moody's. Today's economic announcements include the European Union unemployment rate and Eurozone purchasing managers' index as well as construction spending in the US and retail sales from Germany. Back in the UK, at 9:28 Markit publishes the September manufacturing PMI. Consensus expects to see a modest decrease to 49.0 from 49.5, consistent with broadly flat output. At 9:30 the Bank of England publishes money and credit data for August (consensus £0.1bn, last -£0.2bn), mortgage lending (consensus £0.5bn, last £1.1bn) and mortgage approvals of (consensus 49.2k, last 47.3k). In company news, the so-called merger of equals between commodities trader Glencore and mining titan Xstrata is back on after the independent directors of the latter agreed to Glencore's terms. Glencore increased its terms to a "take it or leave it" offer of 3.05 Glencore shares for every Xstrata share back in early September and after an extended period of umming and aahing, the independent directors of Xstrata have agreed to recommend that Xstrata shareholders accept the offer.Property group British Land has sold the Beehive Centre, a retail centre comprising 16 units including an Asda supermarket, to Orchard Street Investment Management. Orchard Street has paid £109.2m for the asset, which reflects a net initial yield of 5.25%. The 238,000 square foot part (sq ft) open consented retail scheme was acquired by British Land in 1998, and is fully let at an average rent of £25 per sq ft with an average lease length of 14 years.AIM-listed insolvency consultancy Begbies Traynor has said that trading in the second quarter has been quiet, reflecting usual seasonal trade patterns as well as continuing subdued market conditions. In the group's annual general meeting on Monday, Executive Chairman Ric Traynor will announce that the company has seen a 12% decline in the number of insolvencies from the first quarter (5,772) to the second (5,065) and a 8% fall year-on-year.NR