London pre-open: FTSE to extend Thursday's gains

8th Mar 2013 07:28

City sources predict the FTSE 100 will open up 36 points from yesterday's close of 6,439, tracking gains seen in the US and Asia overnight. The Dow Jones recorded yet another all-time high on Thursday, closing at 14,329.Meanwhile, in Asia markets were lifted by reports that exports from China were higher-than-expected in February. On the announcement front, today's agenda includes US non-farm payrolls, unemployment rate and wholesale inventories, and German industrial production. In UK company news, telecoms giant Vodafone has announced that New Zealand Police has chosen Vodafone New Zealand as its partner for mobile communications in a 10-year fully outsourced deal. The company will provide the police with customised mobile services and smartphones, with a total of NZ$159m to be spent on the technology over the next 10 years. AIM-listed mining company Spitfire Oil has secured the long-term tenure over the Salmon Gums lignite resource area in Western Australia. In the company's interim statement for the six months ended December 31st, the company reported that it together with its subsidiaries recorded a loss before tax of A$182,907. Advanced Computer Software (ACS) has purchased an accounting and back-office software firm which will increase annual revenues by around 60%, the company announced on Friday. Alongside an upbeat pre-close trading update, the AIM-listed software and IT services provider said that it has acquired Computer Software Holdings (CSH) from HgCapital for £110m in cash, financed partly by existing cash resources, new bank debt and a recent share placing that raised £44m (gross).