London pre-open: FTSE to again track US stocks higher

24th Jan 2013 07:24

City sources predict the FTSE 100 will open up four points from yesterday's close of 6,198, after US stocks closed higher for the sixth consecutive session. The main US equity benchmarks ended on a high note Wednesday after the House of Representatives voted to temporarily suspend the government's borrowing limit. Leaders passed a Republican plan to lift the nation's debt ceiling through mid-May, giving lawmakers time to tackle other fiscal issues. The House voted 285-144 with strong support from both Democrats and Republicans. On today's agenda, the EU balance of payments, ECB interest rate, Spanish unemployment, Eurozone manufacturing / service sector PMIs, US initial jobless claims and US leading indicators. In the UK economic announcements due out include CBI distributive trades surveys amd BBA mortgage lending figures. In company news, total revenue for the first quarter ending December 31st rose 9.2 per cent to £833m at low-cost airline company easyJet, according to an interim management statement issued by the company on Thursday morning. Revenue per seat grew by 8.0% at constant currency or by 3.9% on a reported basis to £53.87 per seat. The group stated that this had been driven by a programme of revenue initiatives including the company's so-called "europe by easyJet" campaign as well as improvements to revenue management.High Street pastry and baked goods retailer Greggs said Thursday that Roger Whiteside will be its next Chief Executive, having announced in December that Ken McMeikan is leaving the post in March. Whiteside, who will take up the role from February 4th, has been a Non-Executive Director of Greggs since March 2008 and is currently Chief Executive of Punch Taverns.Engineering group Invensys reiterated that the completion of its rail disposal to Siemens should happen in the second quarter of 2013, as it continues to wait for the all-clear by regulators. Back in November, the group's share price soared after it announced that Invensys Rail would be sold to Siemens for £1.74bn. The stock is now trading over 50% higher than it was three months ago.