London pre-open: Footsie to make assault on 6,000

13th Apr 2011 07:46

After yesterday's shake out buyers are expected to be back in force this morning with the FTSE 100 index tipped to open around 30 points higher, leaving a handful of points short of the 6,000 level.Mining giant Rio Tinto said first quarter production in Australia was hit by the extreme weather in the region but most of its operations are now recovering and benefiting from strong prices. Global iron ore production of 42m tonnes attributable was down 3% on the first quarter of 2010 and down 16% on the fourth quarter of 2010. Operations in the Pilbara were disrupted by three tropical cyclones and widespread flooding.Teen outfitter JD Sports Fashion hiked its dividend by about 30% after reporting a sharp rise in profits but said it is "extremely cautious" on the outlook. The sports-themed fashion retailer posted a pre-tax profit of £78.6m in the year to 29 January, up from £61.4m the previous year, on revenues that rose to £883.7m from £769.8m. The full-year dividend is upped to 23p from 18p.Oil and gas firm Tullow Oil has had another success off the coast of Ghana, with the Tweneboa-4 appraisal well in the Deepwater Tano licence encountering gas condensate in good quality sandstone reservoirs. The company added that it is resuming its exploration and appraisal campaign in Uganda. The company expects to have a five-rig drill-out campaign on the go in the second half of this year.---jh