London pre-open: Flat start in store

1st Jul 2011 07:03

London looks set for a quiet end to what has been a buoyant week with City traders expecting the Footsie to open more or less unchanged.There is not much corporate news to generate enthusiasm, and with the Greek can of worms kicked further down the road, the macro-economic scene is looking placid as well, for the time being.Water and waste management group Northumbrian Water has confirmed that it received a proposal about an offer from the Hong Kong infrastructure group Cheung Kong. The statement comes after Cheung King said on Monday that it was in the initial stages of sizing up an offer for the north-east England-based utility.Plant-based sweetener-maker Pure Circle has signed a global distribution agreement with the world's biggest fragrance and flavour company Firmenich. Under the agreement Switzerland-based Firmenich will have exclusive rights over NSF-02, a flavour modifier developed by Pure Circle to be used in combination with its sweeteners.Astra-Zeneca, the FTSE-100 pharmaceuticals firm, has won approval to sell its drug Nexium in Japan. The drug helps in the treatment of acid related conditions, including peptic ulcer disease.--jh