London pre-open: Stocks seen lower amid Brexit woes
London stocks were set to fall at the open on Wednesday amid ongoing concerns about Brexit and after Donald Trump urged Congress to amend the coronavirus aid bill.
The FTSE 100 was called to open 15 points lower at 6,438.
CMC Markets analyst David Madden said: "US equity markets finished slightly lower. After much back and forth, the House of Representatives and the Senate backed a $900 billion coronavirus stimulus package. The move should help the US continue with its economic rebound but the announcement had a muted reaction, probably because the deal was considered to be a foregone conclusion. At the back end of last week, the S&P 500 and the NASDAQ 100 hit new intraday record highs - so the scheme was probably factored into the markets.
"Overnight, President Trump expressed his dissatisfaction with the $900 billion package and there are concerns he will not sign it off. US index futures came under pressure on the back of the news but they have since recovered. Equity markets in Asia are higher but Europe indices are tipped to open in the red."
Investors will also be mulling news that France has agreed to ease its travel ban on the UK.
In corporate news, British Land said it had sold a 75% interest in a portfolio of three buildings in the West End to Allianz Real Estate for £401m. The transaction represents a blended net initial yield of 4.32%, a premium to September book value and is expected to complete in January.
The sale brings total asset disposals to date in full-year 2021 to £1.1bn. British Land will form a new joint venture with Allianz, continue to manage all three buildings and receive an asset management fee.
Business software maker Sage said it had sold its Asia and Australia units to The Access Group for £95m.
The businesses made £48m in revenue for the year to September 30 and operating profit of £6m. Sage said is receiving cash for the deal and retaining global products core to its growth strategy including Sage Intacct, Sage People and Sage X3.