London pre-open: Footsie points lower

10th Jul 2009 07:41

London's top stocks look set to give back some of yesterday's gains. Traders expects Footsie to open around 15 points lower. Bovis has scrapped its interim dividend but said the housing market has shown signs of stabilisation during the first half. The housebuilder said it has decided not to pay a dividend at this stage given the "importance of financial capacity" in taking full advantage of opportunities to invest in the residential land market at what it anticipates will be attractive values, and having regard to the likely level of profitability during 2009. In 2008 it paid an interim dividend of 5.0p per share.Anglo American has confirmed the appointment of Sir John Parker as chairman from the end of the month succeeding Sir Mark Moody-Stuart who is to retire after seven years as chairman.Bodycote was downbeat Friday as the engineering firm said half-year revenue fell by a fifth and warned of a marginal operating loss before exceptional items. A weak automotive sector and continuing decline in demand from the oil and gas industry has cut revenue for the six months to 30 June 2009 by 20%, or 31% on a constant currency basis.Aircraft services group BBA Aviation said it has been outperforming the market during the first six months of the year and expects to continue doing so in the second half despite volatile markets. Building maintenance and services group Interserve is trading in line with expectations and ahead of last year's operating performance.Building products supplier SIG saw a 10% fall in sales in the half year to June 30 as it continued to feel the impact of the depressed construction market. In the second half of June sales were stable 'without exhibiting the level of seasonal pickup in activity which typically manifests itself from late spring onwards,' the firm said.Support and maintenance services supplier Mitie has made a steady start to the year with revenues booked already at 78% of the expected total for the year. This time last year the total booked was 83%.