European markets expected to open down for third day

Markets are expected to open down after US and Asian markets saw losses overnight. Worries about central banks turning off the taps have seen markets tumble.

In the UK the FTSE 100 fell below 6,300 for the first time since April, before recovering slightly to end the day down 0.94 per cent at 6,340.

Some key events today:

  • The second and final day of a German Constitutional Court hearing on the legality of the European Central Bank's monetary policy measures is due to get underway. We're not expecting a ruling until September.
  • Prime Minister's Questions at 12.00. There'll may be some more questions about privacy concerns and the role of GCHQ. Prime Minister David Cameron and foreign secretary William Hague have already stressed that British security works within the law.
  • The ONS releases claimant count change data for May. The number claiming is expected to have dropped by 5,000.