London investors to track eurozone crisis in busy week

The British stock market is next week set to focus on local company earnings and economic data, as well as the latest on the eurozone financial crisis which has sparked recent heavy losses.
London's FTSE 100 index of leading shares ended Friday with a gain of 2.73 percent at 5,262.85 points compared with the previous Friday.
That followed a steep loss of 7.75 percent the previous week as markets were wracked by contagion fears from the Greek debt crisis. Next week will see a flurry of major company results and crucial economic data that will provide a healthcheck on the state of the British economy, which emerged from recession late last year.
Annual results are due from mobile phone giant Vodafone on Tuesday and troubled airline British Airways on Friday. On the economic data front, traders will digest inflation data on Tuesday and public finances numbers on Friday. Investors' attention is also expected to focus on the eurozone financial crisis amid lingering fears of a possible sovereign debt default.
"The preoccupation remains the ongoing fiscal stress in the eurozone and the contagion thereof, which is no longer confined to considerations regarding the likes of Portugal, Italy and Spain," said Credit Agricole CIB analyst Daragh Maher.
"Instead, it has spread across continents and asset markets, much in the same was as the ripples of the (US) subprime crisis extended far beyond initial expectations."
Investors will also track the latest announcements from Britain's new coalition government, which rose to power earlier this week under Prime Minister David Cameron, who ended 13 years of Labour rule.
Cameron's Conservatives sealed a historic coalition government deal with Nick Clegg's Liberal Democrats, in the first such accord since World War II. "It's been a turbulent start to the Cameron-Clegg reign in stock market terms," said ODL analyst Owen Ireland.
"Worsening (British) jobs data released recently has increased the pressure on the new political regime, so next week's economic numbers will put the health of the recovery back in focus. "A budget has been promised within 50 days, so now each piece of data will be scrutinised in detail."