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LONDON (Alliance News) - UK shares are set to open lower Thursday, as lack of significant economic data to be released puts market attention on the Bank of England interest rate decision due at 1200 BST and the continuing Greek debt drama.
Greek Prime Minister Alexis Tsipras met European Commission President Jean-Claude Juncker in Brussels on Wednesday, while the head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, also joined a meeting whose aim was to hammer out a deal that would pave the way for unlocking aid to the Mediterranean country.
"The discussions are going to continue in the coming days," Tsipras said after the meeting with European Commission President Jean-Claude Juncker.
"The more we talk sincerely, the closer we will get to a mutually acceptable solution," he said after what many consider to be a final push for a deal allowing Athens to access urgently needed bailout aid in return for reforms.
Meanwhile, Dijsselbloem said the talks were "very good," a sentiment echoed by the European Commission, which described it as a "good, constructive" meeting.
Michael Hewson, chief markets analyst at CMC Markets UK, believes that hope remains that enough common ground can be found to be able to see Friday?s EUR300 million payment to the International Monetary Fund either paid on time, or at least deferred without too much fuss and rolled up into the remaining repayments later this month, in the almost certain probability that a deal can?t be concluded this week.
IG says futures indicate the FTSE 100 to open 21 points lower at 6,929.4. The index closed up 0.3% at 6,950.46 on Wednesday.
Wall Street ended higher Wednesday. The DJIA closed up 0.4%, the S&P 500 ended up 0.2% and the Nasdaq Composite finished up 0.5%.
In Asia on Thursday, the Japanese Nikkei 225 is trading down 0.2% while the Hang Seng trades down 1.0%. The Shanghai Composite is trading down 3.0%.
Wednesday after the market close, the FTSE Committee announced its index review decision based on Tuesday's closing prices. Satellite company Inmarsat will move into the blue-chip index, replacing temporary-power provider Aggreko, which was demoted to the FTSE 250.
The change will take effect to its UK indices from the market open on Monday, June 22.
In the corporate calendar Thursday, EasyJet releases its May traffic statistics, while Johnson Matthey, Pets At Home, VP and Wincanton publish full year results. 888 Holdings issues a first-quarter interim management statement, while WANdisco issues a first-quarter update. Meanwhile, Asian Total Return Investment Co, Promethean World, JKX Oil & Gas and Genesis Emerging Markets Fund issue interim management statements.
Also in the economic calendar, in the US, jobless claims data are due at 1330 BST.
By Daniel Ruiz; danielruiz@alliancenews.com
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