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FTSE100 poised to start week lower ahead of European manufacturing data

Last updated: 16:43 02 Feb 2015 AEDT, First published: 17:43 02 Feb 2015 AEDT

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FTSE 100 is poised to start the first trading day of February lower ahead of European manufacturing data out today and after disappointing GDP figures from the US economic powerhouse on Friday.

The UK benchmark closed Friday down 0.9% at 6,749 but is expected by financial spreadbetters at IG Index to open Monday down around 22 points.

January has been a good month for European equities, however, largely thanks to the ECB's giant programme of  quantitative easing (QE) that was unveiled.

However, investors are still cautions over the trend for the general US economy and, indeed, what the new Greek government plans to do next over its huge bailout package.

On Friday, US stocks took a battering after it emerged the economy had slowed more than expected at the end of last year. GDP expanded at 2.6% annual rate in the fourth quarter of the year but was below the 5% pace seen in the third quarter.

In Japan, the  Nikkei 225 closed the last session 116 points lower at 17,558.

Today, the January PMI manufacturing numbers are expected from Spain, Italy, France and Greece, with only Germany and Spain expected to show positive numbers above 50.

In UK corporate news, there will be plenty to keep traders' attention focused, not least final results on Thursday from oil behemoth Shell.

Like rivals, the group is taking steps to address the low oil price environment by freezing salary rises and cutting back on exploration expenditure.


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