London pre-open: Stocks seen higher on positive Asian cues

London stocks are expected to open higher on Tuesday following another positive session in Asia and amid rising oil prices.

London’s FTSE 100 is seen starting 33 points higher than Monday’s close at 5,857.

On the data front, UK CPI, RPI and PPI are all due at 0930 GMT.

In the US, Empire manufacturing is at 1330 GMT while the NAHB housing market index is at 1500 GMT.

“Today’s UK inflation numbers are expected to come in counter to that argument of reduced inflationary pressures by rising on an annualised basis with CPI expected to edge up to 0.3% from 0.2%, and RPI expected to rise to 1.4%, from 1.2%. Core CPI on the other hand is expected to moderate slightly to 1.3%,” said Michael Hewson, chief market analyst at CMC Markets.

“Despite the recent turmoil in financial markets economic data while not great hasn’t exactly been bad either, the biggest concern being that the recent market turmoil could transmit itself into a slowdown in the wider economy as consumers become more cautious.”

Vodafone and Liberty Global agree Dutch joint venture

Vodafone and Liberty Global have agreed to combine their operations in the Netherlands.

The London-listed telecoms operator will pay Liberty Global €1bn to create the joint venture.

The companies had confirmed early this month that they were in talks about the possible creation of a JV that would incorporate both their operating businesses.

Vodafone’s group chief executive, Vittorio Colao, said: "The combination of Vodafone's leading mobile business with Ziggo's successful broadband and TV business creates a strong and competitive integrated communications player, which will invest in digital infrastructure, entertainment services and productivity applications for Dutch consumer, business and public sector customers.”

Paper maker Mondi said it expected full year underlying operating profits to be higher than the €767m achieved in 2014.

It added that there would be a special item charge of €47m which includes additional restructuring and closure costs and related impairments as well as provision for settlement of a legal case relating to the 2012 acquisition of Nordenia.

Earnings per share are expected to come in between 121-126 cents, a rise of 24%-29%, basic EPS 121-126 cents, up 22%-27% and basic underlying EPS 131 - 136, increasing 22%-27%.

Merlin Entertainment was confident it had made a strong choice on Monday, in appointing Anne-Françoise Nesmes to its board as chief financial officer from 1 August.

The FTSE 100 attractions and leisure operator of brands including Sea Life, Legoland and Madame Tussauds said Nesmes was succeeding Andrew Carr, who announced his intention to retire in January.

Carr would remain in his post until Nesmes's arrival, and Merlin said he would continue to be employed for a period as part of a handover process.