London pre-open: Stocks seen down ahead of data slew

(Sharecast News) - London stocks were set to edge lower at the open on Monday as Bitcoin slid, as investors eyed a raft of UK data releases.

The FTSE 100 was called to open around 10 points lower.

Kathleen Brooks, research director at XTB, said: "The narrative has abruptly shifted on Monday. After a powerful rally that helped US and European stocks reverse earlier losses and close November with small gains, equity futures are now in the red across the US and Europe, after sentiment took a knock following a sharp decline across crypto markets.

"Bitcoin is lower by more than 5% on Monday and is back below $90,000. There was no news or obvious driver for the slide, which gathered pace during the Asian session. Eurostoxx futures are now pointing to a 0.3% decline later this morning, and US futures are currently nursing larger losses.

"There is no obvious driver, however, the sharp decline in volatility last week, the Vix fell back below the average for the last 12 months, may have unnerved some investors who remain concerned about an uncertain outlook into year end. Bitcoin tends to be a leading indicator for overall risk sentiment right now, and its slide does not bode well for stocks at the start of this month."

On the macro front, investors will be eyeing mortgage approvals and net lending figures for October at 0930 GMT, while the S&P Global manufacturing PMI for November is due at the same time.

In corporate news, aerospace firm Melrose Industries said its chief financial officer is to step down.

Matthew Gregory, 56, has informed the board that he plans to retire in 2026, two years after taking up the role. He will be replaced by Ross McCluskey, a vice president at testing and inspection specialist Intertek Group.

Budget airlines easyJet and Wizz said they had completed software upgrades to their fleets of Airbus A320 planes over the weekend without any cancellations after a warning from the manufacturer on Friday that solar radiation could interfere with onboard computers.

EasyJet added that its financial outlook remained unchanged. France-based Airbus said about 6,000 of the aircraft had been affected, with most requiring a swift software update while around 900 older planes need a replacement computer.

Precision engineering group Hunting said its Energy Services Production Technology subsidiary has won its first sampling and testing contract in Brazil.

Hunting said the deal marks a strategic breakthrough into South America for its Oil Optimisation and Recovery technology, and was the first new territory entered since buying the business in March 2025.