Blue chip shares are expected to fall today, following a run to near five-year highs in the previous session, with higher oil prices raising concerns over inflation, economic growth and corporate earnings.
Results from copper miner Antofagasta and Cairn Energy will also be in the spotlight.
Financial bookmakers see the FTSE 100 share index opening between 18-25 points lower, having closed 44.9 points higher at 5,952.8 yesterday - its highest close since May 2001.
Dealers said a spike in crude oil prices, which weighed on equity markets in the US and Japan, could deflate investor sentiment in Europe, but the recent flurry of mergers and acquisitions activity could soon offset inflationary fears.
"Continuing takeover speculation on a host of companies may see another near term rally in equity markets," said Matt Buckland, a trader at CMC Markets.