FTSE set for a subdued start against a backdrop of turbulence in the

The FTSE 100 looks set to make a subdued start to proceedings – taking its cue from Asia’s main markets which were mixed Monday.

US stock futures, meanwhile, are indicating a down day for Wall Street, which closed the first trading week of the new year in record territory.

Stimulus and vaccine hopes appear to have given way to a bout of cold hard reality as coronavirus infection rates continue to rise.

In the US, Democrats will call on vice president Mike Pence to use the 25th amendment to get Donald Trump out of office now otherwise house speaker Nancy Pelosi will begin impeachment proceedings.

Tighter restrictions?

Here in the UK, Prime Minister Boris Johnson is reportedly mulling even tighter restrictions on the general population with the NHS starting to become overwhelmed by Covid hospitalisations.

Among the measures being floated are compulsory masks outside and people only being allowed out once a week to exercise.

On Sunday, it was announced new infections were almost 55,000 with a further 573 people dying from the virus.

Looking ahead, it looks set to be a big week for corporate news – particularly from the retail sector.

Trading statements covering the key festive period are expected from Tesco (), ASOS () and Boohoo () as well as JD Sports () and Primark owner Associated British Foods ().

Just Eat () and Premier Inn owner Whitbread () will also update investors.

On the macro front, we have inflation, jobless claims and retail sales data from the US on Wednesday, Thursday and Friday respectively and UK GDP on Friday.

On the markets

• Pound US$1.3505 (-0.46%)
• Bitcoin US$34,385,32 (-15.3%)
• Gold US$1,842.00 (+0.46%)
• Brent crude US$55.31 (-1.21%)

6.45 am: Early Markets: Asia / Australia

Shares in Asia-Pacific were mixed as China’s producer price index fell 0.4% in December as compared to a year earlier, according to the country’s Bureau of Statistics.

Mainland Chinese stocks slipped with The Shanghai composite declining 0.78% while Hong Kong’s Hang Seng index advanced 0.22%.

South Korea’s Kospi shed 0.12% after gaining more than 2% earlier in the day. In Australia, the S&P/ASX 200 declined 0.90%.

Markets in Japan are closed today for a holiday.

READ OUR ASX REPORT HERE

Proactive Australia news:

Castillo Copper Ltd’s (ASX:CCZ) (LON:CCZ) (FRA:7OR) surged as much as 90% as assays for the 200 series and six drill-holes for the 300 series significantly extend known mineralisation at the high-grade Big One Deposit within the core Mt Oxide Project in northwest Queensland.

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This year, Perseus Mining Ltd (ASX:PRU) (TSE:PRU)…