London pre-open: Sell-off expected after Greeks vote 'no' in referendum

UK stocks are expected to plunge on Monday morning after the Greek public backed the government's rejection of bailout proposals with a resounding 'no' vote in Sunday's referendum.Some 61.3% of the Greeks voted 'no' against 38.7% who voted 'yes', pushing the nation into unchartered territory in its ongoing battle with creditors for a new bailout deal.City sources predict the FTSE 100 will open 140 points lower than Friday's close of 6,585.78."European equities are set to go into cardiac arrest on the open as the Greek people defiantly vote 'no'," said London Capital Group dealer Jonathan Sudaria.Meanwhile, CMC Markets analyst Michael Hewson said: "Greek voters, worn down by five years of failed EU policy have chosen to give two fingers to European austerity, and make an already complicated situation that much more uncertain."Greek Prime Minister Alexis Tsipras said that Greece would go back to the negotiating table on Monday, claiming: "The mandate you've given me does not call for a break with Europe, but rather gives me greater negotiating strength."However, despite the 'no' vote, Greek Finance Minister Yanis Varoufakis surprised many with a decision to resign.Stocks to watchAerospace manufacturer Rolls-Royce issued a profit warning on Monday, which it said reflected a deterioration in offshore markets. The company said in a statement it expected full year profit to be between £1.325m-£1.475m, compared to previous guidance of £1.4m-£1.55m.Budget airline EasyJet said that it carried 6.56m passengers in June of this year, nearly 8% more than in the same month last year. The load factor, which measures how full the plane is, was 92.7%, up just a touch from 92%.