London pre-open: Modest rise predicted for Footsie
London is tipped to make modest gains after the rally on Wall St overnight with traders tipping Footise to add 9 points in early dealings.
British Airways profits jumped to £883m (2007: £611m) in the year to March even though its fuel bill topped £2bn, but it is very cautious on the current year. " The first quarter will be particularly difficult," it said adding it is reviewing costs across its whole network.
Nuclear power generator British Energy has received a range of takeover proposals, including some priced above Thursday's closing share price. "The board has reviewed the proposals and has decided that discussions should continue with all the parties concerned. The Board wishes to stress that each of the proposals requires further development and that the process is therefore likely to continue for a number of weeks," it said in a statement.
(Article continues below)Advertisement
Ladbrokes profits increased by 13%in the four months to April 30. Gross win increased by 16% and by 34% including the contribution from "high rollers." The High Rollers chipped in £40m but their activity has recently fallen to de minimis levels, Ladbrokes said. 'Gross win grew strongly during the period and, whilst our business has seen no evidence yet of a consumer downturn, we remain mindful of general economic conditions," Chris Bell, chief executive, said.
Housebuilder and contractor Kier expects to meet profit expectations this year barring any further significant market setbacks for its residential business, where reservations are down 35% on last year and margins are under pressure. Conditions for its property business have also continued to deteriorate over the last few months. Construction and support services are both trading well.
