A jump in energy prices over the last few days, driven by tensions between Iran and the West, is jamming the slow-turning cogs of economic recovery, with Europe seen as one of the most exposed regions as its fragile growth falters.
Adding uncertainty to the picture, a meeting of leading economies over the weekend said any further international help to Europe's efforts in tackling its debt crisis will depend on the region's countries strengthening their bailout fund first, a prospect over which Germany has sent mixed signals so far.
The FTSE 100 finished down 2.76 points at 5,935.13 on Friday, after hitting a seven-month high of 5,964.02 in intra-day trade. The index has been consolidating gains since hitting a seven-month closing high of 5,945.25 on February 20.
Europe's biggest lender, HSBC, unveils its 2011 results today.
The bank's performance will be measured against rivals such as Royal Bank of Scotland and Lloyds, which slumped to big losses last year.
The two partially state-owned banks may access the European Central Bank's three-year low interest loans facility this week, according to a Financial Times report on Monday.
Stocks to watch today february 27 2012:
BP: The trial to decide who should pay for the massive 2010 Gulf of Mexico oil spill has been delayed by one week, to allow the British oil company to try to cut a deal with tens of thousands of businesses and individuals affected by the disaster.
HSBC: Europe's biggest bank reports final results for 2011.
Pearson, Bunzl, Cookson, Bovis Homes, Dialight, Hiscox, Keller Group. Microgen, Senior, Ultra Electronics, WSP Group: Full-year results.
Associated British Foods, Essar Energy: Trading updates.
Treatt: Shareholder meeting.
Sareum: Half-year results.
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