London pre-open: FTSE to open at yesterday's lows

15th May 2012 07:29

City sources predict the FTSE 100 will open fairly flat, up just four points from yesterday's close of 5,466 when the index hit its lowest level in the year-to-date amid widespread fears Greece will exit the euro. Quality control group Intertek has purchased Vigalab, a minerals testing laboratory in Chile. Vigalab helps mining companies in the Copiapo and Antofagasta regions to analyse and assess the value of mineral deposits being explored (by sample preparation and trace metal analysis, etc.), such as copper, gold, silver, iron, zinc and lead. International security solutions firm G4S said profits in the first three months of 2012 were, as expected, at similar levels to the corresponding period of last year. Overall organic year-on-year revenue growth was 7.0%, or 6.0% excluding the Olympic Games contract. That represents an improvement on the 4.5% organic growth rate the group achieved in 2011. Organic growth in developing markets was 11% in the first quarter of 2012 while for developed markets it was 4.0%.The acquisition of John Crane continues to pay off for Smiths Group, as it drives growth at the medical devices maker. With nine months of the group's financial year in the rear view mirror, expectations for the year remain in line with the guidance given at the interim results, despite the continued difficult economic and trading conditions, the group said.