London pre-open: Little change expected on FTSE

City sources predict the FTSE 100 will open down one point from Friday's close of 6,090, ahead of this week's collection of retail results. Sainsbury, Tesco, and Marks & Spencer are all set to deliver their results this week, although brokers have warned it has been a tough Christmas and overall figures are not expected to shine. Morrisons kicked of things off with a trading statement in which it revealed it had missed sales targets in the run up to Christmas as the supermarket's promotions and marketing failed to pull in customers. The retailer said the shaky performance meant its full year performance would be "broadly in line with its expectations".Insurance giant Legal & General said on Monday that it has improved the return on equity (RoE) and profitability of new business within its American subsidiary after completing a further phase of its capital efficiency programme. On December 31st 2012, L&G used a "reinsurance solution" to improve L&G America's (LGA) capital position by replacing the need for temporary financing, a total benefit of $345m, the company said in a statement. Mining group Bumi said it continues to target a medium term production target of 30mt each year and in light of the weak coal price environment, it will focus on lower cost pits and defer some of its expansion plans. The Indonesian group said it has been hit by weaker coal prices, particularly during the second half of the year. As a result, it said realised selling prices for the year are expected to be around $70.0/t compared to $81.4/t for 2011.In terms of economic news out today, investors can expect UK new car registrations, and EU producer prices.