LONDON (Alliance News) - London markets are set to open lower Tuesday, after the Eurogroup meeting concluded on Monday without much progress, with Greece resisting an extension of the current bailout program and Eurozone finance ministers refusing to loosen their terms.
IG futures indicate the FTSE 100 to open 25 points lower at 6,831.2. The index closed down 0.2% at 6,857.05 on Monday, in a light day of trading, with US markets closed for the President's Day and with markets focused on the Greek debt meeting, which got underway during the afternoon trading session.
In Asia on Tuesday, the Japanese Nikkei 225 closed down 0.1%, and the Hang Seng trades up 0.2%. The Shanghai Composite is trading up 0.7%.
Brent crude is quoted at around USD62.06 a barrel Tuesday, and US benchmark West Texas Intermediate is quoted at USD53.23 a barrel. Gold is quoted early Tuesday at USD1,227.16 an ounce.
In the economic calendar Tuesday, the UK Consumer, Retail and Producer Price indices are due at 0930 GMT, while German economic sentiment ZEW survey scheduled for 1000 GMT. In the US, the NY Empire State Manufacturing Index is at 1330 GMT, the US Redbook index at 1355 GMT, and the NAHB Housing Market Index at 1500 GMT.
In the UK corporate calendar Tuesday, InterContinental Hotels Group reports full-year results, as does John Wood Group, Dragon Oil, Brammer and Pendragon. Monitise and Hargreaves Services are expected to provide their half-year results.
By Daniel Ruiz; danielruiz@alliancenews.com
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