London mid morning: Footsie edges higher

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Date: Monday 29 Dec 2003

LONDON (ShareCast) - London's blue chips managed a modest rise, as investors ease back into trading after the Christmas break.

Spread betting firms predict that Wall Street will open ahead after a positive close on Friday.

There are few companies reporting results today although property investment group Abraxus Investments rose as it delivered first-half earnings. Pre-tax losses narrowed, helped by cost cuts.

Companies on the move include HBOS early on alongside drug giant GlaxoSmithKline.

Founder of Russian oil company Lukoil Ralif Safin has talked to investment banks about making a bid for soccer champions Manchester United, according to the Daily Telegraph.

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