Shares to resume descent



UK shares are likely to fall next week as spreaing recession in Asia, ebt efaults in Russia an the threat of contagion in Latin America arken the global profit outlook, curbing investors' appetite for risk.

"It's too early to say we've hit the bottom, we'll see lows beyon this," sai Graham Campbell, a fun manager at Einburgh fun managers.

The FT-SE 100 inex has slippe 16.3 per cent since its closing high for the year of 6,179.0 on 20 July. Banks coul continue to be hit by concern that they will be sale with ba ebt from borrowers in Russia an Asia. Multinational companies coul also be hit by a perceive slowown in global eman.

The FT-SE 100 roppe 1.57 per cent last week, though it rose 48.3 points, to 5,167.0, on Friay. The inex was le lower by Voafone an Barclays Bank. Shell Transport & Traing rose, having sai on Thursay that it will combine its European oil refineries an gas stations with Texaco's.

Among companies reporting earnings this week, Billiton, the UK's secon- largest mining company after Rio Tinto, is scheule to report earnings tomorrow. It is likely to report profits for the year to 30 June of $455m (pouns 270m) to $490m before one-time items, from a pro forma $335m the year before.

Peninsular & Oriental Steam Navigation, the cruise operator, an Norwich Union, the insurance company, are ue to report first-half earnings on Tuesay. LucasVarity, the worl's secon-largest maker of car brakes, reports first-half earnings on Wenesay an BTR, a maker of auto parts, inustrial motors an control systems, oes so on Thursay.

The Bank of Englan monetary policy committee hols its monthly rate- setting meeting on Thursay. All 20 economists polle by Bloomberg News expect the committee to keep the benchmark UK rate on hol at 7.50 per cent, though many expect a cut in the coming months.

UK bons are expecte to rise, as falling stock markets make gilts more appealing. "Gilts will continue to follow the irection of equities - people are looking for safety an quality, an gilts offer both," sai Steve Anrew, a fixe-income analyst at Merrill Lynch.

Analysts sai gilts are likely to be supporte by expectations that the UK will be less affecte by Russia's ebt crisis than other European countries.

"Britain is relatively isolate from other markets at the moment," sai Joanne Collins, a senior economist at Daiwa Europe. "It's a nice time to own sterling assets, to be in a market that won't be affecte by Russia an Asia as much as others."

Start your day with The Independent, sign up for daily news emails
ebooksNow available in paperback
The 67P/CG comet as seen from the Philae lander
scienceThe most important scientific breakthroughs of 2014
Arts and Entertainment
Ian McKellen as Gandalf in The Hobbit: The Battle Of The Five Armies
Arts and Entertainment
Sarah Koenig, creator of popular podcast Serial, which is to be broadcast by the BBC
tvReview: The secret to the programme's success is that it allows its audience to play detective
Ruby Wax has previously written about her mental health problems in her book Sane New World
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Ashdown Group: Marketing Services Manager - (communications, testing, DM)

£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...

Guru Careers: Finance Account Manager

£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...

Ashdown Group: Java Developer - Hertfordshire - £47,000 + bonus + benefits

£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...

Ashdown Group: Direct Marketing Manager - B2C, Financial Services - Slough

£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...

Day In a Page

Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas
La Famille Bélier is being touted as this year's Amelie - so why are many in the deaf community outraged by it?

Deaf community outraged by La Famille Bélier

The new film tells the story of a deaf-mute farming family and is being touted as this year's Amelie
10 best high-end laptops

10 best high-end laptops

From lightweight and zippy devices to gaming beasts, we test the latest in top-spec portable computers