London pre-open: Early morning dip

20th Dec 2010 07:31

It looks like London is in for early losses on the last Monday before Christmas on rising tensions between North and South Korea and sovereign debt fears in the eurozone.The FTSE 100 is expected to open about 7 points lower, according to futures prices.M&A could brighten the mood though. Rumours that Ladbrokes is mulling a bid for internet casino firm 888 have been confirmed by the high street bookmaker and Monday morning."Ladbrokes confirms that it is in very preliminary discussions with 888. There can be no certainty that these discussions will ultimately lead to an offer for 888 being made, nor as to the terms of any such offer," it said in a brief statement. A similar announcement has also been issued by 888.It's thought a price of 70p for each 888 share is being discussed. That would value the business at about £240m.Aggreko has won a contract to be the exclusive supplier of temporary energy services at the London Olympics in 2012, the power supply and temperature control specialist has announced. The value of the contract is expected to be around £37m. It will also be the sponsor of both the Olympic and Paralympic Games.