Sharecast - The latest data arrived as investors waited on the release of consumer price data due out the next day, in China, and on Thursday in the U.S..
"The focus this week is on Thursday’s inflation numbers from the US, which could show that prices edged up in July, however it is the numbers out of China tomorrow which might be more instructive in respect of longer-term trends for prices, if headline CPI follows the PPI numbers into deflation," said Michael Hewson, chief market analyst at CMC Markets UK.
At 0715 BST, futures on the FTSE 100 were slipping by 28.50 points to 7,511.0.
Overnight, China's customs administration reported a 14.5% drop in the country's exports for the month of July (consensus: -13.2%).
That followed a 12.4% drop in June.
Imports also weakened, by 12.4% (consensus: 5.6%).
"Exports are now falling in all of China’s significant markets, except Russia, meaning that China will need to rely more on domestic demand to stabilise growth in H2," said Duncan Wrigley, chief China+ economist at Pantheon Macroeconomics.
"Policymakers appear determined to allow household spending and business investment to take the lead in this recovery cycle, even if that means a drawn-out, “tortuous” upturn."
On home shores, the British Retail Consortium reported that the annual rate of increase in total sales values slowed from 4.9% for June to 1.5% in July.
LFL sales also slowed, from 4.2% to 1.8%.
For later in the day, at 1000 BST the National Federation of Independent Business would publish its Business Optimism Index for July.
It would be followed at 1330 BST by foreign trade figures for the US covering the month of June.
Financial markets would also be keeping an eye out for the results for the results of the U.S. Treasury's 52-week and three-year debt auctions at 1630 BST and 1800 BST, respectively.
Spirax-Sarco boss set to step down
Thermal energy and fluid engineering specialist Spirax-Sarco announced the intended retirement of group chief executive Nicholas Anderson in early 2024 on Tuesday, after a decade in the role. Nimesh Patel, who joined the company in 2020 as chief financial officer, would succeed him as group CEO from 16 January next year. The company said Patel's promotion followed an extensive succession planning process.
Hotels operator IHG (LON:IHG) on Tuesday reported a sharp jump in half-year profit as the travel sector continued to rebound from the Covid pandemic. Operating profit at the Crowne Plaza and Holiday Inn owner rose 62% to $584m, with revenue per available room (RevPAR) – a key industry metric – up 24% year on year. Group revenues increased 24% to $2.2bn. "In the Americas and EMEAA regions, leisure demand has remained buoyant and business and group travel continued to strengthen, while in Greater China, demand has rebounded rapidly,” the company said in a statement.