London pre-open: Markets turn cautious ahead of busy end to the week

4th Sep 2013 07:27

Markets are expected to open broadly flat on Wednesday morning as heightened fears about imminent Western military intervention in Syria dampen risk appetite. City sources predict the FTSE 100 will open more or less unchanged from yesterday's close of 6,468.41. The Senate Foreign Relations Committee last night gave the green light on a US attack on Syria, saying that the use of force "reflects the will and concerns of Democrats and Republicans alike".This comes ahead of the crucial vote in Congress next week on whether President Barack Obama will be supported in his call for action against the Bashar al-Assad regime which he claims is responsible for the deadly chemical weapons attack against the Syrian people in August.Traders will also be cautious today ahead of three central-bank meetings tomorrow from the Bank of Japan, Bank of England and the European Central Bank. These will be followed by the all-important US jobs report on Friday which will be a large factor in the Federal Reserve's decision on whether or not to adjust current stimulus measures.Stocks to watchHargreaves Lansdown's annual pre-tax profit rose 28% to £195.2m as the financial services company took on more clients and increased assets under administration (AuA). The FTSE 100 firm posted a 38% rise in AuA to £36.4bn and a 22% jump in revenue to £292.4m for the year ended June 30th.British Land is set to purchase 50% of SouthGate retail space in Bath after agreeing to pay current owner Multi Southgate £101m for the new 430,000 sq ft, prime open air scheme located next to Bath Spa railway station. The group said it was attracted by the lack of out of town competition, Bath's footfall, the location, and 'significant' tourist spend.Equipment rental company Ashtead Group booked a 24% hike in first-quarter revenue amid strong demand and a tight control on costs and now expects a full year result ahead of previous expectations. Revenue increased to £410.5m for the first quarter ended July 31st 2013 from £325.0m a year earlier. Pre-tax profit surged 59% to £99.5m.