London pre-open: Decent gains expected

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Monday 07 Jul 2008

LONDON (ShareCast) - London's blue chips are tipped for decent gains in first dealings with traders suggesting Footsie could be up 30 points early on.

It's a big week for housebuilders with reprots this morning already suggesting that Persimmon will make 1,000 staff redundant tomorrow. Marks & Spencer boss Staurt Rose also faces a difficult week with one in four shareholders expected to abstain or vote against his election as executive chairman.

Elsewhere, gaming machines group Inspired Gaming is to raise £40m through an issue of 80m convertible preference shares at 50p each. The money raised will fund its exit from its Pubs Division, pay down £10m of senior debt facilities and fund the further expansion of its core business. The pubs division is being sold to Danoptra for a nominal consideration. Inspired reported an after tax of loss of £45.3m for the half year to 12 April including a pub division write-down of £47.6m.

No frills airline Easyjet reports its June load factor remained strong at 86.9% and passenger numbers, including the effect of the GB Airways acquisition, grew 19.5% to 4.1m compared to last year. Loads on a rolling 12 month basis fell to 83.3% from 84%. "In line with expectations, total revenue per seat continues to improve and to date nearly 70% of seats for the second half of the year have been sold," it added.

Engineer Morgan Crucible's turnover rose by about 13% in the first half of its financial year. On a like for like basis, excluding acquisitions, revenue growth is expected to be c.10% (c.4% on a constant currency basis). "Our organic revenue growth guidance for the full year remains in the 5-6% range on a constant currency basis," it added. Group underlying operating profit margins are expected to be in the mid 11% range at the half year, which is comparable to the full year 2007 at 11.4%, Morgan said.

Courtesy car supplier Helphire reports satisfactory progress in the year to June just ended, but cautions that the UK non-fault accident management market is maturing and its caseload is growing less rapidly. If the economic environment remains challenging in the near future and fuel prices remain high, motoring activity and therefore growth in the use of credit hire may slow, it added.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).