London pre-open: Footsie set to crawl higher

23rd Jul 2010 07:33

A modestly firmer start is expected in London with traders predicting the FTSE 100 index will open around 7 points higher.Mobile phone network operator Vodafone returned to organic revenue growth in the April to June quarter of 2010 for the first time since the near global recession. Group revenue increased by 4.8% to £11.3bn and group service revenue increased by 4.9% to £10.6bn. On an organic basis, service revenue increased by 1.1% as each of the regions delivered improved service revenue trends.United Utilities says current trading reflects lower prices for 2010/11, revenue pressures from reduced water volumes, bad debt and anticipated rise in property rates. However, the firm, which revealed a drop in full-year profits in May due to high borrowing costs, said these negatives are being partly offset by a drop in power costs..Britvic saw revenue increase by 16.2% from a year earlier to £289.5m in its third quarter. The underlying GB, International and Irish businesses saw a combined revenue increase of 6.9%. BP has temporarily suspended relief well activities at the MC252 well site in the Gulf of Mexico due to "potentially adverse weather" linked to Tropical Storm Bonnie.