London pre-open: FTSE to rise on Greek polls

Date: Friday 01 Jun 2012

City sources predict the FTSE 100 will open up 26 points from yesterday's close of 5,296, boosted by news that the most recent opinion polls in Greece show that pro-bailout parties are in the lead.

BP has revealed that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of Russian investors, as speculation has run rampant in recent days of a breakdown in the relationship between the British oil firm and its partners. The group said on Friday morning that it has received "unsolicited indications of interest" regarding its stake in TNK-BP.

Real estate investment trust Great Portland Estates (GPE) has bought interests in two properties in the heart of London's St James's district from fund management firm Henderson Global Investors. GPE is paying £39.0m for the leasehold interests in French Railways House and 50 Jermyn Street, SW1. The purchase price reflects a net initial yield of 5.1% and a capital value of £782 per square foot. The 1950's properties are multi-let to nine tenants, producing a gross rent of £2.12m per annum, which reflects an average rent of £46.50 per square foot on the offices and £125 per square foot Zone A on the retail space.

Telecoms giant BT Group has sold its application development services business in France to IT services company Osiatis. In a brief statement, BT said that the sale "allows BT Global Services in France to focus further on its core strategy, which is to offer networked IT services and communications solutions to corporate customers and the government sector."

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