LONDON (ShareCast) - City sources predict the FTSE 100 will open down 37 points from yesterday's close of 5,448, after comments from Federal Reserve Chairman Ben Bernanke on Thursday, when he said 'the situation in Europe poses significant risks to the US financial system and economy and must be monitored closely'.
Power systems group Rolls-Royce is to take full control of Aero Engine Controls (AEC), the engine controls joint venture it established in January 2009 with US aerospace giant Goodrich. AEC designs and manufactures engine control systems including electronic engine controllers, fuel pumps and fuel metering units for a wide range of Rolls-Royce engines and for a number of other programmes. As well has a site in Indianapolis in the US, AEC owns sites in Birmingham, Derby and Belfast in the UK and employs around 1,400 people.
House builder Bellway said demand throughout the spring selling season has remained resilient with visitor levels and reservation rates running ahead of expectations. In the period covering February to May, inclusive, reservations (net of cancellations) have averaged 122 per week, up 9% on the corresponding period of last year. The increase in the private weekly sales rate is more marked at 19%, having been attained from an average of 210 sites, compared to 195 last year, the company said.
Ultra Electronics, the technology company with interests in defence, transport and energy, has been awarded an Indefinite Delivery, Indefinite Quantity contract by the US Navy. The contract, worth up to $49.2m, requires Ultra to supply upgraded versions of its submarine transducers that are stocked by the US Navy to support fleet requirements for new and restored units. Work on the contract is due to be completed in 2017.
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