London pre-open: Stocks to fall further ahead of data-heavy session
UK stocks were expected to open slightly lower on Tuesday ahead of a busy day for economic data, extending losses after dropping sharply to a three-week low.
Aerospace and Defence
10,586.86
17:14 22/04/24
Bunzl
3,050.00p
17:05 22/04/24
Cobham
164.50p
14:03 17/01/20
FTSE 100
8,023.87
17:09 22/04/24
FTSE 250
19,599.39
17:14 22/04/24
FTSE 350
4,408.19
17:14 22/04/24
FTSE All-Share
4,362.60
16:44 22/04/24
Meggitt
798.80p
16:52 12/09/22
Senior
160.00p
16:40 22/04/24
Support Services
10,583.66
17:14 22/04/24
City sources predict the FTSE 100 will open 12 points lower than Monday’s close of 6,417.16.
The index suffered a 2% sell-off the previous session, finishing at its lowest level since 17 December, as concerns about a Greek exit from the Eurozone and another plunge in oil prices weighed on sentiment.
“The first full week after the Christmas period started off with a bang yesterday as equity, currency and commodity markets all posted big moves as fears surrounding the lower oil price and the political situation in Greece saw traders sell their assets,” said analyst James Hughes from Alpari UK.
After a relatively quiet start to the week in terms of data, the calendar looks pretty full for Tuesday’s session, with service-sector data out in China, Japan, Europe, the UK and US. Factory orders in the States will also be closely watched.
Stocks to watch
Distribution group Bunzl has expanded its safety business in North America with the acquisition of California-based Blake H Brown. Blake H Brown, which trades as Tillman, sells a variety of personal protection equipment, mainly gloves, to distributors in the welding and industrial sectors.
Aerospace group Meggitt has strengthened its industrial valve offering with the $44m cash acquisition of Precision Engine Controls Corporation, which serves the oil and gas industry. PECC, which was bought from owner United Technologies Corporation from existing resources, supplies of actuation systems and fuel metering valves to manufacturers of small-frame gas turbines used predominantly in the oil and gas and power generation industries.
Defence, aerospace and energy manufacturing firm Senior has hired Cobham’s chief operating officer as its new chief executive officer, replacing Mark Rollins who is due to step down after 17 years with the group.