London pre-open: Bright start predicted

13th Aug 2009 07:40

Footsie is expected to open higher after a strong performance from Wall Street last night.Insurer Prudential said its half-year results show continued "strong performance" in what still remains challenging market conditions. IFRS operating profit before tax from continuing operations increased 6% to £688m, driven by strong underlying operating performance in Asia, together with a one-off benefit from a regulatory change in Malaysia.Travel group Thomas Cook posted a rise in revenues in the nine months to June 30 despite the impact of swine flu and said it has seen 'robust' trading over summer. Revenue for the nine month period climbed by 10.7% from the same period the previous year to £5.9m, while losses from operations before exceptional items and swine flu reduced by 43.4% to £49.5m. Interserve, the services, maintenance and building group, has been named preferred bidder for a £60m Thames Water Utilities contract covering the creation of new facilities and upgrade works at the Riverside Sludge Digestion plant. Interserve will construct a new Thermal Hydrolysis Plant, refit digestion equipment and undertake alterations and extensions in order to meet the new Tideway Operating Agreement consent.Engineer Tomkins has cut its dividend as it swung to a half year loss and said its outlook remains uncertain. The group will pay an interim dividend of 3.5 cents per share compared with 11.02 cents in the same period last year and said prevailing end market conditions and its outlook led to the decision to cut the payout.