LONDON (Alliance News) - UK stocks are pointed to a slightly higher open Tuesday as investors in some of Europe and in the US return from a long weekend to catch up with the gains made in Asia on Monday.
IG says futures indicate the FTSE 100 to open 4.6 points higher at 7,036.3. The index closed up 0.3% at 7,031.72 on Friday .
Wall Street closed lower on Friday, with the DJIA ending down 0.3%, the S&P 500 closing down 0.2% and the Nasdaq Composite ending just a touch lower.
In Asia Tuesday, the Japanese Nikkei is up 0.2% pushing on to new 15-year highs. The Hang Seng trades up 1.2%, and the Shanghai Composite is up 0.6%. On Monday, the Japanese Nikkei closed up 0.7% and the Shanghai Composite ended up 3.4%. Hong Kong was closed.
The focus is also on Greece this week as the struggling nation ahead of its loan payment to the International Monetary Fund. A Greek government spokesman on Monday played down suggestions by two leading cabinet ministers that the country is about to default on its debt, saying all efforts were being taken to repay a looming IMF loan on schedule.
Gabriel Sakellaridis said Greece would maintain repayments to its EU-IMF creditors for as long as possible. He also rejected the idea of possible capital controls that would restrict money transfers and access to savings.
On Sunday, the country's interior minister had said Greece does not have the money to make a repayment to the IMF by June.
Greece is believed to be close to going bankrupt after failing for months to access EUR7.2 billion left in its international bailout.
In the UK corporate calendar cinema chain, Cineworld Group and software developer Micro Focus International both issue trading statements. Industrial chains and power transmission products supplier Renold reports full-year results, as does Minds + Machines Group.
Low-cost airline Ryanair Holdings said early Tuesday its full-year profit after tax climbed 66% to EUR867 million from EUR523 million in the prior year. Net margin jumped from 10% to 15%.
In the economic calendar, the Confederation of British Industry's Distributive Trades Survey at 1100 BST, US durable goods orders at 1330 BST. US housing price index is at 1400 BST before consumer confidence and new house sales at 1500 BST.
By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1
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