The FTSE 100 is tipped to open with a 0.8% loss today after tacking on 0.4% on Monday.
Engineering company Invensys (LON:ISYS) led the FTSE 100, surging 9% on takeover speculation. Platinum miner Lonmin (LON:LMI) followed with a 4% gain. Engineering company Weir Group (LON:WEIR) climbed 3.7%, while retailer Marks & Spencer (LON:MKS), oil and gas engineering firm Petrofac (LON:PFC) and quality and safety services company Intertek (LON:ITRK) advanced 2.7%, 2.4% and 2.2% respectively. Airline British Airways (LON:BAY) and the world’s largest miner BHP Billiton (LON:BLT) tacked on nearly 2%.
Engine manufacturer Rolls-Royce (LON:RR) was the only FTSE 100 constituent to lose 1% or more, dropping 2.3%.
Power generation company International Power (LON:IPR) shed nearly 1%.
US stocks pulled back late in yesterday’s session. The Dow Jones Industrial Average (DJIA) closed with a marginal gain, while the S&P 500 index lost 0.1%. The technology heavy NASDAQ composite was down 0.15%.
China’s Shanghai Composite Index tumbled 3.6%, Hong Kong’s Hang Seng dropped 1.4%, Japan’s Nikkei 225 declined 0.3% and South Korea’s KOSPI retreated 0.8%. Australia’s S&P/ASX 200 did better, rising 0.25%.
Commodities
Oil prices moved lower. US light, sweet crude for December delivery declined to US$84.26/barrel, while January Brent Crude fell to US$86.32/barrel.
Gold was unchanged at US$1,360/oz. Other precious metals moved in different directions. Silver rose to US$25.68/oz, while platinum dropped to US$1,663/oz.
Base metals declined. Copper and nickel fell to US$3.87/lb and US$10.24/lb respectively. Zinc retreated to US$1.01/lb.
Updates on the ABC News consumer confidence index, US producer price index and the National Association of Home Builders index will be released today along with the UK’s CPI (consumer price index).