(MENAFN- ProactiveInvestors)Britain's blue chips are poised to extend losses Friday as traders are put off by dismal commodity prices and a gloomy economic outlet. FTSE100 closed Thursday down 12 points at 6655 but today is called to open around 20 points lower. It will follow the lead set by Asian stocks overnight where disappointing Chinese manufacturing data sent stocks crashing. The so -called flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to a figure of 48.2. Economists had been expecting a reading of 49.7. It is the lowest reading for over a year. The theme of the lack of Chinese growth continues to be a bug bear for markets. The Nikkei 225 shed 133 points to 20551 while the Hang Seng shed 233 points. Yesterday stocks tumbled in London as disappointing UK retail stats emerged and commodity prices continued to fall. In the US where the Dow lost 119 points at 17732 jobs data led to an increased concern that the Fed may raise interest rates as early as September. In commodities gold and crude futures stabilised a tad with crude futures up from multi month lows and Brent at its lowest level since April 2 this year. Today Pearson (LON:PSON) will once again be in focus with its interim results. Yesterday it emerged it was selling the FT to Japan's Nikkei for £844mln bringing to a close a near 60 year ownership.
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