London pre-open: Stocks seen muted ahead of inflation data

London stocks were set for a muted start on Wednesday amid lingering concerns about the possibility of a no-deal Brexit and ahead of the release of key inflation data.

The FTSE 100 was called to open five points lower at 7,720.

"It is possible the no-deal Brexit fear will continue to dominate the headlines, like it did yesterday," said CMC Markets analyst David Madden.

"Even if a no-deal Brexit does happen, it won’t take place for over a year, so equity traders are not overly worried," he added.

On the macro front, the consumer price index, producer price index and retail price index are all due at 0930 GMT.

The CPI reading is tipped to dip to 1.4% in November from 1.5% in October, while the core reading is expected to remain unchanged at 1.7%.

In corporate news, education publisher Pearson said chief executive John Fallon was stepping down and would retire in 2020 once a successor had been appointed.

In a separate announcement the company said it was selling its remaining 25% stake in Penguin Random House to partner Bertelsmann for $675m (£530m) and would return £350m to shareholders through a buyback.

Bank of Georgia Group that its bank subsidiary has signed a €50m (£42.48m) loan agreement with the European Investment Bank, with a maturity of up to seven years.

The FTSE 250 company said up to 50% of the facility could be drawn in Georgian lari, while the remaining amount would be denominated in euros or dollars.

It said the purpose of the credit was to finance investment projects promoted by micro, small and medium sized and mid-capitalisation enterprises in Georgia, and support the implementation of projects deemed important for the development of the local private sector.