Wood Group (J) Share News (WG.)

(ShareCast News) - City sources predict the FTSE 100 will open 17 points higher than Monday's close of 6,550.30.European stocks were expected to open slightly higher as investors await the release of UK inflation figures.UK inflation has been near zero for most of this year and dipped into deflation territory back in April, although a large part of the decline can be attributed to the sharp fall in energy prices which is seen as being net positive for the economy, OANDA analyst Craig Erlam said"Core inflation has remained well below the 2% target but some of this can probably be attributed to indirect impacts of these stimulative energy price declines," Erlam said.CMC Markets UK chief market analyst Michael Hewson said it was unlikely there will be any significant rise in price pressures in the CPI figures on Tuesday. Hewson said the monthly CPI was expected to slip by about 0.3%, while year on year number was expected to remain unchanged.Stocks to watchHousebuilder Persimmon posted a 31% rise in first-half pre-tax profit on the back of solid revenue growth, continued improvement in operating profitability and a strengthening of the company's financial position. Pre-tax profit for the six months ended 30 June came in at £272.8m from £208.9m in the first half of last year, on revenue of £1.33bn, up 11% from £1.20bn.Battered by the crashing oil price, engineer Wood Group upped its interim dividend by 10.1% after slashing costs more than expected as its oilfield workforce was cut by a fifth in the face of tumbling sales and profits. Revenue of $3.07bn in the first six months of the year was down 19.3% on the same period last year, with underlying profit down 17.6% to $2.66bn, adjusted diluted earnings fell 9.7% to 40.1 cents and the dividend was lifted to 9.8 cents.In the pressGlobal banks are facing billions of pounds of civil claims in London and Asia over the rigging of currency markets, following a landmark legal settlement in New York. Barclays, Goldman Sachs, HSBC and Royal Bank of Scotland were among nine banks revealed last Friday to have agreed to a $2bn settlement with thousands of investors affected by rate rigging in a New York court case. - The Financial TimesThe Treasury has raised eyebrows by hiring the investment bank at the centre of the botched Royal Mail privatisation for its latest sell-off. Lazard is to lead the sale of the taxpayers' stake in the King's Cross development, Europe's largest urban redevelopment project, which is expected to be valued at £5bn on completion. - The TimesWorld shipping has fallen into a deep slump, dashing hopes of a quick recovery from the global trade recession earlier this year and heightening fears that the six-year economic expansion may be on its last legs. Freight rates for container shipping from Asia to Europe fell by over 20 per cent in the second week of August, even though trade volumes should be picking up at this time of the year. -The Telegraph