London pre-open: Chinese GDP boosts FTSE

13th Jul 2012 07:38

City sources predict the FTSE 100 will open up 28 points from yesterday's close of 5,608, gaining recently lost ground after China's latest GDP figure came in above expectations at 7.6 per cent (Q1: 8.1), pleasing investors despite the decline. Latin America continues to be the engine of growth at financial data company Experian, but the company is edgy about its prospects in the Eurozone. Group revenue in the three months to the end of June was up 14% on a constant currency basis, with organic revenue growth of 9.0% at constant exchange rates, in what is the first quarter of the group's financial year. To put that into context, in the whole of the financial year just finished, organic revenue growth was 10% year-on-year.Mining firms Anglo American and Codelco have agreed to extend talks for a second time over the disputed ownership of Anglo American Sur. Global mining giant Anglo and Chilean copper miner Codelco both requested the continued suspension of their legal proceedings on Thursday, July 12th, at the 14th Civil Court of Santiago until August 24th, 2012 to allow talks to continue. It is a case of more of the same in the new financial year for Electrocomponents, with UK sales continuing to bounce back while International sales decline. The electronics and maintenance products distributor said sales in the three months to the end of June were at a similar level to the previous financial year.