London pre-open: Stocks seen up as investors eye UK, US inflation data

12th Aug 2024 07:28

(Sharecast News) - London stocks were set to rise at the open on Monday following a mostly positive Asian session.

The FTSE 100 was called to open around 40 points higher.

Investors will be eyeing the release of the US producer price index for July on Tuesday and UK PPI and CPI for July on Wednesday.

In corporate news, BT Group welcomed news that Bharti Global had acquired Altice UK's 24.5% stake in the telecoms carrier.

"We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy," BT boss Alison Kirkby said.

"BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come."

Elsewhere, Marshalls reported a 13% decline in revenue to £306.7m and a 19% drop in adjusted operating profit to £34m for its first half.

The FTSE 250 company said that, despite challenging market conditions, it partially mitigated the impact through management actions and diversification, while maintaining an interim dividend of 2.6p. Its board said it was confident that the full-year results would align with previous expectations.