London pre-open: FTSE expected to break through 6,300 level early on

29th Jan 2013 07:28

City sources predict the FTSE 100 will open up 12 points from yesterday's close of 6,294, pushing the index above the 6,300 mark for the first time since May 2008. In the US, mixed economic data resulted in a broadly flat end to Monday's session, with traders taking a breather following an impressive start to 2013.Today's agenda includes the latest US consumer confidence reading. In UK company news, real estate giant British Land said it continued to perform well in the third quarter and saw 'encouraging' levels of demand in spite of tough market conditions. The company said that in the face of subdued economic growth, weak consumer spending and an increased leave of retailer bankruptcies, occupancy across its UK estate remained high at 97.7% in the three months to December 31st 2012. Bookmaker William Hill said its good performance continued into its final quarter, buoyed by a strong gross win margin result and strong performances in retail and online. For the 14 weeks to January 1st 2013 group net revenue grew by 12% and on a 52 week basis was up 10%. Operating profit was up 20% and 18% for the year.Consumer products giant PZ Cussons has posted a rise in profits in line with market expectations. The company, which owns Original Source shampoo, Morning Fresh washing up liquid and Imperial Leather soap, reported a 9.7% increase in profits before tax of £44.1m for the six months to November.