LONDON (ShareCast) - London's blue chips are tipped to rally slightly in first dealings following late gains on Wall Street on Friday.
Standard Chartered could be busy on reports that China's three leading banks have been looking at buying a large stake in the former colonial bank and have sounded out the Singapore state investment agency Temasek over a possible sale of its 17% stake
Housebuilder Barratt says that interest rate rises and the effect of recent liquidity squeeze on the availability and cost of mortgage finance has led to a tightening of the UK housing market. Private sales per week per site were lower in the 19 weeks to 1 July compared with the particularly strong period last year, but were more in line with 2005/6 levels. Operating margins for the half year will be broadly in line with the guidance given at the preliminary results.
Surgical equipment group Gyrus has agreed to a £935m bid from Japanese medical equipment and digital camera maker Olympus. The offer is pitched at 630p per ordinary share of Gyrus, a 57% premium to the current share price.
Aim-listed engineer Hamworthy lifted interim underlying profits by 15.1% to £6.3m (2006: £5.5m) on sales up 30.5% to £106.2m. "With the order book at a record level and a healthy balance sheet, the board remains confident in the Group's outlook for the remainder of the year," it added.
Electrical engineering and contracting firm T Clarke is on track to meet current market expectations for the full year following strong trading at its core business since August’s interims. “The board is confident about the prospects for the group,” it said.
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