London pre-open: Stocks to edge lower amid flurry of earnings and data

26th Feb 2015 07:38

UK stocks were expected to fall for a second day on Thursday after reaching an all-time high earlier in the week, with investors digesting a flurry of corporate earnings and economic data.City sources predict the FTSE 100 will open six points lower than Wednesday's close of 6,935.38. On Tuesday, the index settled a new record closing high of 6,949.63."While we may have made a fresh new all-time high on the FTSE100 earlier this week the follow through so far has been pretty lacklustre, which is rather an unusual state of affairs when such a significant barrier is breached," said analyst Michael Hewson from CMC Markets."It's almost as if investors remain unconvinced as to the strength of the current rally," he said.Thursday morning was looking pretty busy in terms of economic data with the release of German consumer confidence and unemployment figures, Eurozone money supply and sentiment data, and gross domestic product estimates in the UK. Later on there will be inflation, jobless claims and durable goods orders due out in the States.Stocks to watchThe Royal Bank of Scotland has more than halved its full-year losses of £3.47bn as it confirmed the appointment of Sir Howard Davies as its new chairman. Overnight, chief executive Ross McEwan announced that he would forgo a share award worth £1m as he did not want the allowance "to be a distraction from the task of building a great bank".Reed Elsevier, the Anglo-Dutch "professional information company", has announced plans to combine its two parent companies and rename itself RELX Group as it forecast another year of growth in 2015. The company, which operates in the science and medical, risk, legal and exhibitions markets, said underlying adjusted operating profit rose 5% t o£1.74bn in 2014 on underling revenues that were 3% higher at £5.77bn.RSA Insurance Group returned to annual profit and recommenced its dividend as it announced its chief financial officer is stepping down.