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Date: Monday 30 Jun 2008

LONDON (ShareCast) - London stocks are tipped to open lower again after another triple-digit fall on Wall Street on Friday. Traders have pencilled a 10-point dip for Footsie in early dealngs.

Housebuilders may be in focus again after reports at the weekend that Taylor Wimpey is to raise £500m and will write off hundreds of millions of pounds from the value of its land banks when it gives a trading update this week.

Ground engineer Keller reports trading in the first five months of 2008 has been strong, with revenue, operating profit and orders all ahead of the same period last year.

Power station Drax now expects full year results will be modestly higher than recent market EBITDA consensus of around £400m, reflecting its current contracted position as well as prevailing conditions in the commodity markets. The board expects to declare an interim ordinary dividend of 5p per share (approximately £17m), and a special dividend in respect of the six months ending 30 June 2008.

Online fashion group ASOS saw underlying profits surge 176% to £8.25m in the year to March 31 on a 90 percent increase in revenues to £81m. Sales in the 13 weeks to June 27 were up 95%, it added. "While it's too soon to suggest that this performance will continue for the full year, we are confident that 2008/09 will be another strong year for ASOS," it said in a statement.

Support services group Serco has repeated the guidance given with its interims on 13 May. "Our performance remains strong, and our markets continue to offer substantial opportunities, underpinning our revenue and margin guidance. Serco remains on track to deliver on expectations for 2008," it said.

Contractor Costain says that since 8 May 2008, the group has continued to perform in-line with the board's expectations. Costain says it has secured a number of significant new orders since the beginning of the year and the group's forward order book today stands at in excess of £2bn, which is a record level.

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