London pre-open: Footsie to top up gains

5th Nov 2010 07:30

More gains are expected for FTSE 100 Friday, capping a strong week for the leading share index.Unusually for a Friday, there is a fair amount of corporate news flow.Part-nationalised bank Royal Bank of Scotland saw a 10% increase in its core operating profit in the third quarter over the preceding one. Core operating profit, excluding fair value of own debt (FVOD), climbed to £1,732m. The company took an £858m charge in respect of FVOD.Oil giant Shell has agreed to sell stakes in six Gulf of Mexico oil and gas fields for $450m (£280m) as it seeks to invest in 'more promising' growth opportunities. It is selling the Tahoe, Southeast Tahoe, Droshky, Marlin and Dorado fields and a Gulf of Mexico producing shelf property to W&T Energy for $450m.A good performance from its orthopaedics business helped wound care and artificial joint maker Smith & Nephew over the past three months. Revenues in the quarter to September rose by 4% to $941m, compared to $915m in the same period last year. Pre-tax profits rose to $201m from $173m while trading profit in the quarter was $215m, representing underlying growth of 4%.