UK stocks set to drop as oil surges; economic growth expected to stall

Key facts

• The FTSE 100 index is expected to drop.
• UK economic growth is predicted to halt in July.
• The Office for National Statistics will release July's GDP figures.

The UK's FTSE 100 index is expected to open lower, according to IG futures, as oil prices surge and economists anticipate that recent economic growth will grind to a halt. The Office for National Statistics (ONS) is scheduled to release its gross domestic product (GDP) figures for July this morning. The UK economy had previously grown by 0.3%.