LONDON (ShareCast) - London’s top stocks are expected to continue yesterday’s stellar gains with traders predicting FTSE 100 will open up 47 points.

Miner Xstrata has made a £5bn offer to buy platinum miner Lonmin. The group has proposed £33 per share cash offer, which is a 42% premium on Lonmin's share price yesterday.

The group also announced today that pre-tax profits for the half-year fell slightly to $4bn from $4.47bn previously.

Broadcaster ITV slumped into losses of £1,537m versus profits of £105m for the half year and slashed dividends by 50% to 0.675p.

The group said ITV Family net advertising revenue (NAR) was up 1% and viewing share rose 2.5%. ITV estimates that ITV NAR for September will be down 20% with the total market down 17%.

Life insurer Standard Life saw first-half profits rise 51% to £534m thanks to one-off gains despite difficult market conditions.

“In our life and pensions businesses, net flows were strong, sales showed good growth and profitability was maintained. In Standard Life Investments, net inflows offset the impact of market declines so that third party funds under management remained constant,” said the group.

WS Atkins said it has started the year well with performance in the first quarter in line with expectations. “Overall the markets in which we operate remain strong and the Group continues to make good progress,” it added.

In the press, Apax Partners, the private equity group, has held talks with GfK, the German market research group, about funding a cash bid for Taylor Nelson Sofres (TNS), reports the Times.

Debenhams and Liberty are considering a proposed rescue plan for nearly 3,000 newlyweds left without presents after the collapse of Wrapit, the online wedding gift service, according to the Times.

Terry Smith, the chief executive of Tullett Prebon, is confident he will seal a merger agreement with New York's GFI by September in a deal that will give him the momentum to compete with his main interdealer-broker rival ICAP, reports the Telegraph.

• News Channel