London opening: Footsie opens quietly

20th May 2009 08:40

Wall Street's weaker tone is being echoed in London with blue chips struggling to make headway.Credit checking firm Experian hailed its revenue and profit growth last year despite exceptionally difficult market conditions. Revenue rose to $3,873m in the year to 31 March 2009 from $3,789m a year earlier. Revenue from continuing activities was up 8% at constant exchange rates, while organic revenue growth was 3%, indicating a slowdown in organic growth since its last trading update in mid-April, when organic growth was 4%. London Stock Exchange slumped into losses for the year due to hefty impairment charges associated with the acquisition of Borsa Italiana.Silver and gold producer Fresnillo said it has successfully concluded 2009 annual wage negotiations with Union at Ciénega mine in MexicoLloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank's placing and compensatory open offer. The shares were little changed after they went ex-entitlement today.Recession has not yet dented demand for for bank notes with specialist printer De La Rue upping underlying profits by over 18% last year and its dividend by 92%.Soft drinks supplier Britvic is the best performers as it shrugged off a profits collapse in Ireland to lift underlying interim profits by over 16% as sales in the UK gathered momentum. London's West End-focused Shaftesbury has joined the rush of property groups raising cash with a fully underwritten rights issue to raise £149.1m net.