London pre-open: Dull start in store

15th Mar 2010 07:44

London looks set to get the week off to a quiet start with City traders predicting the FTSE 100 will open around 10 points lower than it's closing level on Friday.Investment trust giant Witan’s investment performance beat its benchmark index in 2009 after calling the bottom of the market a month early in February. The Trust achieved 25.9% total return in net asset value in 2009, versus a 24.5% return from the company’s benchmark measurement. The total dividend for 2009 is 10.5p, up from 10.2p the year before.Rio Tinto has been cleared by an internal Chinese investigation of wrong doing over the collapse of its proposed tie-up with aluminium group Chinalco. The investigation instead blamed naivety, poor PR and soaring metal prices for the breakdown of the deal.Distribution and outsourcing group Bunzl has bought Switzerland-based consumable products supplier Weita Holding for an undisclosed sum. In 2009 the Swiss company’s revenue was SFr.70.9m while at the end of the year the company had gross assets worth SFr.47m.Sensor and electronic components firm TT Electronics has been hit hard by the recession, but put in a “creditable” performance in 2009 and has continued a better fourth quarter performance into the new year. The group traded in the black during the second half, resulting in a profit before exceptional items of £0.8m for the year, down sharply from the £21.1m reported in 2008. A restructuring resulted in £14.2m of exceptional costs.