London pre-open: Dull start in store

14th Jan 2011 07:32

UK equities are set to open slightly lower, though there has been some cheer provided by housebuilder Bovis Homes, which is se to resume dividend payments after a strong performance in 2010.Bovis Homes predicts profits for 2010 will beat consensus estimates. A "significant" improvement in profits to more than £16.3m has been driven by a 5% increase in the number of legally completed homes to 1,901 at an average sale price of £160,700, up 4% on the year before.UK defence giant BAE Systems has made an agreed offer for AIM-listed financial crime prevention specialist Norkom Group. BAE is offering €2.10 per Norkom share in a deal that values the Dublin-headquartered firm at €217m.Mexico-based silver and gold miner Fresnillo produced record amounts of both metals last year with output expected to increase again over the coming twelve months.Engineering firm Morgan Crucible has paid RMB.64m (£6.15m) for Changsha Hairong New Materials, a specialist in the production of graphite materials for anodes used in lithium ion batteries for portable electronics and electric vehicles.