London pre-open: Bright start expected

29th Mar 2010 07:40

London looks set to open the shortened week on the front foot, with traders expecting the FTSE 100 to open around 16 points up from its close on Friday.Sports Direct has confirmed press speculation that it is 'seriously considering a material increase in the level of its indicative bid' for Blacks Leisure. However, Sports Direct added that it has "become aware of indications" that Blacks' management had been selectively disclosing information about suppliers who were unlikely to keep selling stock to the company if Sports Direct took control. Blacks said it is confident that there had been no selective disclosure in breach of the Takeover Code as alleged by Sports Direct.Infrastructure contractor Balfour Beatty has won contracts worth a combined £200m from the Highways Agency, Yorkshire Water and Anglian Water, plus a £250m contract from the North East Lincolnshire Council.South Atlantic oil explorer Desire Petroleum has confirmed a mixed result from its first drilling in the waters around the Falkland Islands.Investment firm 3i Infrastructure said the market environment for infrastructure investment is improving and added that its portfolio is performing well and continues to deliver a good yield. The group invested £73.3m in the period from 1 April 2009 to 29 March 2010 and realised £25m. The company had cash balances of £310.6m at 29 March and no borrowings. Cameroon-focused oil explorer Bowleven has its first two wells prepared and ready to drill as part of an extensive exploration of its acreage over the next 12-18 months. Reserves on a gross and net basis were unchanged at approximately 217m barrels of oil equivalent (boe) at the end of the 2009, though this will fall to 165m boe once a deal to farm -out some of the Etinde prospect (in Cameroon) to Netherlands-Swiss based oil group Vitol is completed.