London stocks were set to fall at the open on Tuesday following a downbeat session in Asia, as investors eyed a Budget preview from Chancellor Rachel Reeves.
The FTSE 100 was called to open down around 35 points.
Reeves is due to give a speech at Downing Street on Tuesday morning ahead of the Budget on 26 November.
In corporate news, oil titan BP beat market forecasts with its third-quarter earnings and said it expects divestment proceeds to be higher than previously expected.
Underlying replacement cost profit totalled $2.21bn, down from $2.35bn in the second quarter and $2.27bn in the third quarter of 2024, as improved profitability was offset by a higher underlying effective tax rate.
However, that was ahead of the consensus forecast of $2.02bn. Meanwhile, the company said divestments and other proceeds would now be above $4bn in 2025, ahead of previous guidance of $3-4bn.
Associated British Foods said it could split its Primark and food businesses under a review of its group structure currently underway in consultation with its biggest investor Wittington Investments, which remains committed to maintaining majority ownership of both businesses.
The company added that Primark's adjusted operating profit margin is expected to be slightly below last year as it focused on investing in growth to drive sales after posting a 26% fall in profit to £1.4bn for the year to September 13 amid a subdued consumer environment.
UK-based master franchise Domino's Pizza Group said trading throughout the three months ended 28 September was in line with internal expectations, with total orders slipping year-on-year as a result of a weaker quick-service restaurant market due to customers' lower discretionary income.
Domino's said total orders were down 1.5% in Q3, with collection up 1.7% and delivery down 3.4%, while total system sales were 2.1% higher year-on-year.