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LONDON (Alliance News) - It was all about Christmas sales and falling oil prices early Tuesday in London. Retailers Tesco, Sainsbury, Debenhams and Wm Morrison Supermarkets were leading gains in the FTSE 350, on sales updates and Kantar Worldpanel survey results.

Losing some puff was bakery chain Greggs, down 8.0%.

Meanwhile, Brent oil edged closer to USD30 a barrel.

Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: up 0.4% at 5,893.77
FTSE 250: up 0.2% at 16,684.11
AIM ALL-SHARE: up 0.2% at 721.30
Hang Seng: closed down 0.9% at 19,711.76
Nikkei 225: closed down 2.7% at 17,218.96
DJIA: closed up 0.3% at 16,398.57
S&P 500: closed up 0.1% at 1,923.67
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GBP: soft at USD1.4520 (USD1.4545)
EUR: flat at USD1.0896 (USD1.0885)

GOLD: down at USD1,096.43 per ounce (USD1,098.88)
OIL (Brent): down at USD30.77 a barrel (USD31.74)

(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Tuesday's Key Economic Events still to come
(all times in GMT)

09:30 UK Industrial and Manufacturing Production
10:30 US Fed's Stanley Fischer speech
10:30 Japan Bank of Japan Governor Kuroda Speech
11:00 US NFIB Business Optimism Index
13:30 Canada Manufacturing Shipments
13:55 US Redbook index
15:00 US JOLTS Job Openings
15:00 US IBD/TIPP Economic Optimism
15:00 UK NIESR GDP Estimate
20:15 US Fed's Lacker speech
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The UK Financial Conduct Authority has said it did "not consult with any external body" as it made the decision to drop a review into banking culture, according to a Financial Times report. The financial watchdog's statement came in response to a freedom of information request, the article said, backing up a claim by Chancellor George Osborne that he was not aware of the plans.
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Like-for-like sales in the UK were up just 0.1% on year in December, the British Retail Consortium said. That was well shy of forecasts for an increase of 0.5% following the 0.4% contraction in November. Overall retail sales gained 1.0% on year. In the three months to December, sales were up 0.9%, including a 0.2% gain in food sales and a 1.5% increase in non-food sales.
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A measure of peoples' assessment of the Japanese economy increased more-than-expected in December to the highest level in four months, survey figures from the Cabinet Office showed Tuesday. The current index of Economy Watchers' survey climbed to 48.7 in December from 46.1 in November. Economists had forecast the index to rise to 46.6. The latest reading was the highest since August, when it marked 49.3.
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Japan's consumer confidence improved unexpectedly in December, though slightly, survey data from the Cabinet Office showed. The seasonally adjusted consumer confidence index rose to 42.7 in December from 42.6 in the previous month. Economists had forecast the index to drop to 42.4. Moreover, the latest reading remained as the highest since November 2013, when it marked 43.0.
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Russia could give asylum to Syrian leader Bashar al-Assad if he is forced to leave his country, Russian President Vladimir Putin said in an interview. "It was surely more difficult to grant Mr Snowden asylum in Russia than it would be in the case of Assad," Putin told Germany's most popular tabloid, Bild, referring to former US intelligence worker turned whistleblower, Edward Snowden, who was given asylum in Russia in 2013. Putin said it was too early to say whether Russia would have to shelter al-Assad, whose country has disintegrated in a civil war that has lasted almost five years. "First the Syrian population has to be able to vote, and then we will see if Assad would have to leave his country if he loses the election," Putin said.
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Senior diplomats from Japan, the US and South Korea will hold talks later this week in Tokyo to discuss responses to North Korea's recent nuclear test, the Japanese government said. "The idea is to confirm close trilateral cooperation in dealing with North Korea," Foreign Minister Fumio Kishida told reporters, referring to the meeting planned for Saturday. The US military sent a B-52 long-range bomber over the Korean peninsula Sunday in response to Wednesday's nuclear test, which Pyongyang said was of its first hydrogen bomb.
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BROKER RATING CHANGES
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HSBC CUTS BHP BILLITON TO 'REDUCE' ('HOLD') - PRICE TARGET 590 (1100) PENCE
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BARCLAYS CUTS BHP TO 'UNDERWEIGHT' ('EQUAL WEIGHT') - PRICE TARGET 515 (900) PENCE
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EXANE BNP RAISES CENTRICA TO 'OUTPERFORM' ('NEUTRAL') - TARGET 250 PENCE
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JPMORGAN CUTS HARGREAVES LANSDOWN TO 'UNDERWEIGHT' ('NEUTRAL') - TARGET 1,200P
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BARCLAYS CUTS EASYJET TO 'EQUAL WEIGHT' ('OVERWEIGHT') - TARGET 1870 (1940) PENCE
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COMPANIES - FTSE 100
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J Sainsbury once more emerged as the only 'Big Four' winner in the latest UK grocery sales figures from Kantar Worldpanel, with Tesco, Asda and Wm Morrison Supermarkets all suffering further declines. Sainsbury's sales for the 12 weeks to January 3 rose 0.8% year-on-year, with its market share inching up to 17.0% from 16.9% the year earlier. Tesco, still the market-share leader by some distance, saw sales decline 2.7% over the period, while its market share declined to 28.3% from 29.1%. Morrisons sales declined 2.6%, with its market share slipping to 11.0% from 11.3%.
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Direct Line Insurance Group was counting the cost of insurance claims in the wake of three storms and severe flooding in parts of the UK over December, with the costs to it to range between GBP110.0 million and GBP140.0 million. The motor and home insurer said the actual losses it incurs from storms Desmond, Eva and Frank will not be known with certainty for some while, meaning that the figure could rise. Direct Line said claims are expected to be incurred in both its home and commercial division.
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COMPANIES - FTSE 250
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Wm Morrison Supermarkets reported a fall in total sales in the Christmas trading period, although sales grew on a like-for-like basis excluding fuel, and it announced the planned closure of a further seven stores. The grocer said total sales excluding fuel were down 1.2% in the nine weeks to January 3, on the same period the year before, and down 1.7% including fuel. On a like-for-like basis, sales excluding fuel grew 0.2% but fell 0.6% including fuel.
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Debenhams reported growth in like-for-like sales in the first 19 weeks of its financial year, and in its Christmas trading period, as it benefited from less discounting and a reduction in stock levels. The department store operator said group like-for-like sales in the 19 weeks to January 9 grew 1.9% on the same period the year before, rising 1.8% in the seven weeks to the same date. Debenhams said it made further progress on its strategic priorities which helped to deliver a strong trading performance and record sales in the Christmas week.
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Online takeaway delivery services Just Eat reported steaming hot rises in both reported and like-for-like order volumes in 2015. The company said its reported order growth for the year to the end of December was 57%, with like-for-like growth, which strips out the contribution from Australia's Menulog, which Just Eat agreed to buy in May, at 46%.
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Online electrical appliances retailer AO World said trading remains in line with its expectations for its full financial year after a solid performance in the third quarter to the end of December. AO World said its UK business continued to show growth across all categories, with revenue from its AO.com website up 35% and total UK revenue rising 24% in the third quarter year-on-year.
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Cinema operator Cineworld Group said trading for 2015 met its expectations, with revenue growth across the business over the course of the year. The group's pro-forma total revenue increased 12% in the year to the end of December, with box office revenue up 12%, retail revenue rising 14% and other income up 13%. The pro-forma numbers include Cinema City, the central and eastern Europe-based business that Cineworld acquired in February 2014.
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Recruiter Michael Page International said its gross profit dipped in the fourth quarter due to currency weakness across its operations and tougher trading in Asia Pacific. The group said its total gross profit fell 0.5% in the fourth quarter to the end of December, though it would have increased 5.3% in constant currencies.
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Greggs reported growth in sales in its recently-ended financial year, driven by sandwiches, drinks, hot food and coffee, although like-for-like sales growth slowed over the Christmas period against a strong comparative period and amid weaker footfall. The bakery and food-to-go retailer said total sales grew 3.7% in the 52 weeks to January 2, compared with the 53-week prior year. Excluding the prior year's 53rd week, total sales rose 5.2% against the 52-week prior year comparable, while company-managed shop like-for-like sales rose 4.7%.
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Virgin Money Holdings said it has poached Tesco Bank's chief financial officer to take up the same role at the lender in 2017. Peter Bole, whop has led Tesco Bank's finance function since 2009, has previously held senior finance positions at Royal Bank of Scotland Group and as an investment director at Standard Life. Virgin Money said its new CFO is likely to replace Dave Dyer in 2017 as a result of his "contractual position" at Tesco Bank. Dyer will remain with the business in a part-time advisory role "for a period of time".
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COMPANIES - LONDON MAIN MARKET AND AIM
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Spread-betting company CMC Markets is set to decide this week whether it will launch an initial public offering in London which could value the business at over GBP1.0 billion, the Financial Times reported. The group is due to meet on Tuesday and will discuss a timetable for its planned listing, according to sources familiar with the matter, the FT said. The sources said CMC may then move quickly to file an intention to float, though the volatility in equity markets seen at the start of the year could delay that decision.
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COMPANIES - INTERNATIONAL
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Alcoa, the largest producer of aluminum in the US, posted a loss for the fourth quarter, hurt largely by hefty one-time charges related to closures in the Upstream business. Nevertheless, on an adjusted basis, earnings for the quarter trumped Wall Street analysts' estimates, while revenues fell short of expectations. New York-based Alcoa reported fourth-quarter loss of USD500 million or USD0.39 per share, compared to last year's profit of USD159 million or USD0.12 per share last year.
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Sergio Marchionne, iconoclastic boss of Fiat Chrysler, has long advocated consolidation among carmakers, and early last year openly aired his infatuation with General Motors as a match for his Italian-American conglomerate. On Monday at the North American International Auto Show in Detroit, Marchionne conceded that General Motors was in no mood for romance. GM chief executive Mary Barra had said in September at the Frankfurt car show that a merger with Fiat Chrysler was "not in the best interest of General Motors' shareholders." "We have abandoned consolidation now," Marchionne said.
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The world's carmakers presented new features, debuted revamped models, and showed off daring concept vehicles at the Detroit auto show, but the attention of Germany's Volkswagen remained on its diesel emissions scandal. Herbert Diess, chief of the Volkswagen brand within the VW group, reiterated the company's apologies to US consumers for using software that only lowered smog-causing nitrogen emissions on its "clean" diesel models during testing conditions.
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One of China's richest people is set to make the biggest Chinese acquisition so far in Hollywood, after agreeing to buy Legendary Entertainment. The Wanda Group, which is controlled by multi-billionaire Wang Jianlin, agreed to buy a majority stake in Legendary for USD3.5 billion, a spokesman told dpa. Legendary has produced hit blockbusters such as Jurassic World, the Batman Dark Knight trilogy and Inception.
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Tuesday's Scheduled AGMs/EGMs

MTI Wireless Edge (re scrip dividend)
Falkland Island Holdings (re capital reorganisation)
Capital Management & Investment
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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