(Alliance News) - Stocks in London are set to open lower on Tuesday, amid a lack of positive macro catalysts before the release of US economic data.

IG says futures indicate the FTSE 100 will open down 12.5 points, 0.2%, at 8,402.49 on Tuesday. The index of London large-caps closed down 18.77 points, 0.2%, at 8,414.99 on Monday.

The performance in global equities remained fairly muted, as investors await key US data this week.

"We are entering a crucial period for financial markets and forecasters as Americans' near-term inflation expectations rise again. Upcoming reports on the consumer price index and producer price index for April, along with new data on retail sales and industrial production, will provide valuable insights into the second quarter's real [gross domestic product] and consumer spending growth, helping to shape expectations for Federal Reserve rate cuts and longer-term interest rates," SPI Asset Management managing partner Stephen Innes explained.

Sterling was quoted at USD1.2557 early Tuesday, edging up from USD1.2552 at the London equities close on Monday. The euro traded at USD1.0785 early Tuesday, lower than USD1.0791 late Monday. Against the yen, the dollar was quoted at JPY156.41, up versus JPY156.21.

In the US on Monday, Wall Street ended mixed, with the Dow Jones Industrial Average down 0.2%, the S&P 500 down slightly, and the Nasdaq Composite up 0.3%.

Shares in Walgreens Boots Alliance closed up 5.4% on Monday after Bloomberg reported it was reaching out to potential buyers for its UK pharmacy chain, Boots.

The Deerfield, Illinois-based company is working with advisers to hold early-stage discussions with would-be bidders, Bloomberg said, citing people familiar with the matter.

Boots could be valued at about GBP7 billion in an exit, with one possibility being an initial public offering in London. A Boots stock offering would be a big boost to the London stock market, which has been hit by a steady flow of companies opting to list elsewhere.

In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 0.2%. In China, the Shanghai Composite was down 0.1%, while the Hang Seng index in Hong Kong was marginally lower. The S&P/ASX 200 in Sydney was down 0.4%.

Gold was quoted at USD2,343.92 an ounce early Tuesday, higher than USD2,333.92 on Monday. Brent oil was trading at USD83.49 a barrel, higher than USD83.07.

Tuesday's economic calendar has a UK unemployment reading at 0700 BST, before US producer price index data at 1330 BST.

The local corporate calendar has full-year results from telecommunications firm Vodafone and first-quarter results from bookmaker Flutter.

By Elizabeth Winter, Alliance News senior correspondent

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