The FTSE currently indicates a really weak opening, which is being caused by the continuation of a sell-off, which started in US last night. Mr. Bernanke warned on Tuesday, that the financial crisis could prolong the difficulties the economy is facing. Wall Street appeared little comforted and focused on his downbeat assessment taking the SP500 to its lowest close in 5 years. Look for the FTSE to spend the whole day in negative territory.

Crude oil fell in New York, trading below $90 a barrel, as consumption weakens in the U.S. and other developed nations amid a worsening credit crisis that's restraining economic growth. We expect oil prices to trade in a range before the inventory numbers are released towards the end of the UK trading day. The price direction for the next few days will be determined by the inventory numbers.

Predicted opens as of 06:00 GMT

FTSE: 4475.50 (-129.72)

CAC40 3607.70 (-120.60)

DAX30 5189.00 (-141.30)

DOW: 9503 (+53)

SP500 1001.70 (+0.87)

Gold: 881.88 (-4.52)

Oil: 89.06 (-1.09)

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