London pre-open: FTSE to edge lower after hitting 13-year highs

22nd May 2013 07:36

City sources predict the FTSE 100 will open down 11 points from yesterday's close of 6,804, after it yesterday smashed through the 6,800 mark, just 130 points short of its all-time high, not seen since 1999. A decline would ignore the gains seen in both Asia and the US overnight. It's a busy day for data in the UK, with the Bank of England announcing its interest rate minutes, the second release of GDP, internet ratail sales, public sector finances and the CBI industrial trends survey. Today's international announcements include US crude oil inventories, MBA mortgage applications, and existing home sales, the EU current account, the Bank of Japan policy decision and the latest summit of the EU 27. In today's UK company news, Rolls-Royce, the FTSE 100 aerospace and defence giant, has won an order from US leasing company CIT Aerospace for Trent XWB engines to power ten Airbus A350 XWB aircraft and Trent 700 engines to power 13 Airbus A330 aircraft. "This order underscores the market-leading position of the Trent 700, and reflects our ability to deliver a Trent XWB engine that has already proven itself in test flights to be the most efficient large aero engine flying today," the group said.FTSE 250-listed asset manager Intermediate Capital, otherwise known as ICG, has unveiled record assets under management (AuM) for 2012/13 but profits dropped sharply as the company didn't exit as many investments during the year.AuM reached a record €12.93bn in the year ended March 31st, up 13% from €9.51bn previously, following what it labelled as a "strong fundraising year, with increased geographical and institutionally diverse investors".UK construction company Carillion has been selected as the preferred bidder to deliver the £400m first phase of redevelopment at London's Battersea Power Station. The project comprises 866 apartments, including 11 penthouses, together with retail facilities, theatre space and business studios, in two blocks built on a podium with two levels of basement parking.