Britain8217;s FTSE 100 index is seen opening down around 34 points,or 0.6 percent,on Tuesday,according to financial bookmakers,tracking falls on Wall Street and in Asia as investors book profits before key decisions for the euro zone bond-buying programme,and expected U.S. quantitative easing. For more on the factors affecting European stocks,please click on
Germany8217;s constitutional court decision on whether the country can legally participate in the euro zone8217;s permanent bailout fund now may face delay following a fresh complaint from a ruling party lawmaker against the ECB8217;s bond buying,with the court expected to decide on Tuesday whether to go ahead with its ruling on Wednesday or delay to consider the complaint.
The UK blue chip index closed down 1.60 points,or 0.03 percent at 5,793.20 on Monday,after yo-yoing in a tight range around the psychologically important 5,800 level as weakness in defensive shares balanced against strength in risk-sensitive cyclicals,such as miners and energy.
London copper prices eased on Tuesday from four-month peaks hit in the previous session.
BARCLAYS 8211; The bank will take the axe to its controversial tax structuring unit,as it seeks to clean up its image in the wake of a succession of scandals,The Financial Times said.
ROYAL BANK OF SCOTLAND 8211; The bank has no plans to sell Citizens Financial Group,its retail bank in the United States,contrary to reports in the media and chatter among some investment bankers,an RBS executive said Monday.
UK bank profitability is set to stay under pressure through to 2013 as margins erode and regulatory costs rise,while an uncertain domestic economy keeps the outlook for the UK banking system negative,ratings agency Moody8217;s said.
Britain is considering the use of new entrants in its banking market to operate a state-backed business bank that would offer finance to companies too small to raise money on equity or capital markets,Business Secretary Vince Cable said on Tuesday.
FIRSTGROUP 8211; The British transport firm dismissed suggestions it might have to walk away from a contract to operate the country8217;s west coast rail service,even as it conceded its plans were riskier than those of failed rival bidder Virgin Rail.
Four of Britain8217;s main mobile operators have agreed to refrain from taking any potential legal action against the industry regulator at a time when they are trying to roll out 4G services,the Financial Times reported.
British house prices fell slightly more slowly than expected last month,and surveyors showed some optimism that recent government measures will boost the market over the coming year,a monthly survey by the Royal Institution of Chartered Surveyors showed on Tuesday.
British firms are planning to step up hiring in the months to come,a survey from staffing firm Manpower showed,raising the likelihood that unemployment will fall further despite the lack of economic growth.
British trade data for July will be released at 0830 GMT,with a global deficit of 9.0 billion pounds forecast,after a 10.119 billion pounds gap in previous month,and the non-EU deficit seen at 4.5 billion pounds,after a 5.176 billion deficit in June.
July U.S. international trade numbers will also be released on Tuesday,at 1230 GMT,with September U.S. IBD consumer confidence numbers due at 1400 GMT.