(Sharecast News) - Stocks are set to start the morning a bit lower despite the return of the US President, overnight, to the White House.
FTSE 100 futures are trading down by 7.0 points at 5,915.0.

The focus in financial markets on Tuesday will shift towards the European Central Bank as two of its top officials take to the podium to explain their views on monetary policy.

First up will be the central bank's chief Christine Lagarde, at 0935 BST, who is scheduled to participate in the Wall Street Journal's CEO Council Summit.

She will be followed by the ECB's chief economist, Philip Lane, at 1630 BST, who will speak at the 62nd annual meeting of the US National Association of Business Economists.

However, traders will also be keeping a close eye on the headlines out around the health of the US President, Donald Trump.

In the UK, and leaving Brexit to one side for the moment, IHS Markit will publish its Purchasing Managers' Index for the country's construction sector at 0930 BST.

Guidance raised at Watches of Switzerland

Watches of Switzerland lifted its full-year guidance on Tuesday driven by better-than-expected second quarter US and UK revenues which offset lower tourist and airport sales. Revenue for the year to April 30 was now expected to be £880m - £910m, up from previous guidance of £840m - £860m. Earnings before interest, tax, depreciation and amortisation (EBITDA) margin was forecast to rise 1% year on year, while the adjusted EBITDA margin was expected to increase 1.5% from previous guidance of flat.

BHP has signed an agreement with Hess Corporation to acquire an additional 28% working interest in the six-lease Gulf of Mexico development Shenzi, it announced on Monday. The FTSE 100 company said it had agreed to a purchase price of $505m. It said the acquisition would bring its working interest to 72%, and immediately add around 11,000 barrels of oil equivalent per day of production.

Oxford Biomedica said it had received government approval for a fourth manufacturing suite within its Oxbox facility which will be used to develop a potential Covid-19 vaccine. Approval was given by the UK Medicines & Healthcare products Regulatory Agency (MHRA), the company said on Tuesday. "Both this suite and the suite approved in September ...at present will be dedicated to the manufacture of a Covid-19 viral vector vaccine candidate," Oxford said.