1440: Russia has denied claims that it is building up troops on its border with Ukraine. The Russian Defence Ministry said the claims by the US Pentagon and Nato were baseless, according to news agency Interfax. Moscow pointed out that an increase of 10,000 to 20,000 troops in one day, as claimed, would be impossible.

1330: The US trade deficit improved to -$41.5bn in June from -$44.7bn in the month before (consensus: $44.8bn).

1130: Alliance Boots has confirmed that US drug store giant Walgreens will buy a remaining 55% stake in its UK sector peer for £5bn. The transaction is expected to complete in the first quarter of 2015, subject to shareholder and various regulatory approvals.

1100: US giant Walgreens is set to complete its acquisition of Alliance Boots, Britain's biggest pharmacy chain for £5bn. An announcement is expected to be released on Wednesday.

0930: UK industrial production expanded at a 0.3% month-on-month clip in June (consensus: 0.6%). Manufacturing output was 0.3% ahead over the month (consensus: 0.6%).

0927: Standard Chartered has reported a 20% drop in pre-tax profit in the first half to $3.27bn with results affected mainly by a downturn in the Financial Markets division and challenges in Korea. "We are taking action to address near term performance challenges, to embed our refreshed strategy and aspirations, including reorganising the bank, refocusing marketing and sales efforts, divesting non-core businesses and optimising risk weighted assets," the bank said.

0831: Stocks have begun the session clearly lower, weighed down by reports that Russia may have amassed up to 45,000 troops close to its borders with Ukraine. That news sent Wall Street lower overnight. SAB Miller and Reckitt Benckiser are leading fallers after going ex-dividend today. AstraZeneca and Shire are also standout fallers early on. UK house prices advanced by 1.4% on the month in July (consensus: 0.4%). The latest figures on British industrial production are due out at 09:30. FTSE 100 down 47 to 6,636.

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