London pre-open: Blue chips set for early push

9th Dec 2010 07:37

Overnight strength on Wall Street looks like spreading over here this morning, with futures prices pointing to a charge back above 5,800.The FTSE 100 is expected to add more than 40 points when trading starts, according to City forecasters.As expected, "extremely difficult" market conditions and a bigger than expected first half loss have forced CD and DVD retailer HMV to slash the interim dividend. The owner of book chain Waterstone's lost £41.3m before tax in the 26 weeks ended 23 October, up from £24.9m last year and worse than the City had predicted. And things haven't gone well at the start of the key Christmas trading period, with the snow "significantly" affecting consumer footfall.Asia-focused bank Standard Chartered says it is on course for another record year of profit and income as it continues winning market share and enjoying its position in markets with strong growth prospects. Both its wholesale and consumer banking businesses have seen "strong" income levels, though net interest margins have fallen fractionally from levels of 2009 due to pressure on asset margins in several products.Men's outfitter Moss Bros says the positive trend experienced earlier in the year has continued as the company heads into the crucial Christmas period. Like-for-like sales were up by 8.3% in the first 18 weeks of the second half. "We enter this key trading period in the best shape we have been in for some time," says boss Brian Brick.