London pre-open: Equities to follow Wall St. lower

20th May 2009 07:43

Wall Street's weaker tone looks set to be echoed in London at the outset, with City sources expecting the FTSE 100 index to open around 18 points down from last night's close of 4,482.Credit checking firm Experian hailed its revenue and profit growth last year despite exceptionally difficult market conditions. Revenue rose to $3,873m in the year to 31 March 2009 from $3,789m a year earlier. Revenue from continuing activities was up 8% at constant exchange rates, while organic revenue growth was 3%, indicating a slowdown in organic growth since its last trading update in mid-April, when organic growth was 4%. The group said it expects little organic growth in the first half of the current financial year.London's West End-focused Shaftesbury has joined the rush of property groups raising cash with a fully underwritten rights issue to raise £149.1m net.Silver and gold producer Fresnillo said it has successfully concluded 2009 annual wage negotiations with Union at Ciénega mine in MexicoLloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank’s placing and compensatory open offer.Recession has not yet dented demand for for bank notes with specialist printer De La Rue upping underlying profits by over 18% last year and its dividend by 92%.London Stock Exchange slumped into losses for the year due to hefty impairment charges associated with the acquisition of Borsa Italiana.