London pre-open: Stocks to fall ahead of pivotal weekend for Greece

26th Jun 2015 07:57

UK stocks are expected to decline on Friday morning after the collapse of Greek debt talks at the Eurogroup meeting the previous day.City sources predict the FTSE 100 will open 17 points lower than Thursday's close of 6,807.82.Another Eurogroup meeting has been scheduled for Saturday morning with Sunday evening being the final deadline for a deal to be agreed."Friday is shaping up to be one of the quieter days of late in terms of news flow and data but with the Greek fiasco appearing to near a conclusion, at least this part of it, I doubt there will be anything boring about the markets today," said Oanda analyst Craig Erlam.Stocks to watchSupermarket chain Tesco reported another slip in sales but said the decline was slowing. UK like-for-like sales fell by 1.3% in the 13 weeks to 30 May, after 1.7% and 5.1% declines seen in the fourth and third quarters of the previous financial year.Dunelm has appointed former Dixons and Tesco executive John Browett as its chief executive officer designate. Browett will join the board on 1 July as CEO designate and will become CEO on 1 January 2016, following a six-month induction period with the current CEO Will Adderley, who will revert to his former position as deputy chairman.AIM-listed stamps, coin and collectables group Stanley Gibbons reported strong growth in its results for the full year ended 31 March on the back of the contribution from recent acquisitions. However, the company said trading in core philatelic dealing was hampered by a number of anticipated high value sales failing to complete within the financial year. As such, adjusted earnings per share growth did not reach the targets planned for the year.Paragon Entertainment has entered into a framework agreement with Majid Al Futtaim Leisure & Entertainment to design and build their unique portfolio of leisure concepts.