London pre-open: Stocks seen lower on downbeat China cues

London stocks were set for a weaker open on Monday, taking their cue from a downbeat session in Asia amid ongoing concerns about the spread of the coronavirus.

The FTSE 100 was called to open 13 points lower at 7,453.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "Asian equity markets kicked off the week on a negative note as the spreading coronavirus was the major concern as the virus took 900 lives and infected more than 40,000 people, with cases outside China rising. There are also doubts that the numbers in China may be higher than reported.

"China is back from its extended CNY holidays this week, but the activity will likely remain subdued for a couple of more weeks, if not months until the dust settles."

Comments from World Health Organization chief Tedros Adhanom Ghebreyesus were unlikely to help the mood, after he tweeted over the weekend that confirmed case of the virus being transmitted by people who never travelled to China could be "the tip of the iceberg".

In UK corporate news, NMC Health confirmed it had received "highly preliminary" approaches from Kohlberg Kravis Roberts & Co. and GK Investment Holding Group regarding possible offers for the company.

The Middle East hospital operator also said its founder and chairman BR Shetty is conducting a legal review into potential historical inaccuracies relating to his own stake in the firm and those of three other shareholders.

Workspace announced the appointment of David Benson as its new chief financial officer with effect from 1 April.

Benson is currently corporate finance director of Premier Inn owner Whitbread.