London pre-open: FTSE to track Asian stocks higher

29th May 2012 07:28

City sources predict the FTSE 100 will open up 25 points from yesterday's close of 5,356, tracking Asian stocks higher. Sentiment over Greece has been boosted by another poll in the country which showed that the pro-bailout New Democracy party is leading amongst voters as the country prepares for the elections in June. Plumbers' merchant Wolseley has seen like-for-like growth slow down in its fiscal third quarter as it runs up against tougher comparatives from last year. Revenue in the three months to April 30th was up 4.7% to £3,069m from £2,930m in the fiscal third quarter of last year, but like-for-like (LFL) growth was only 3.8%, versus LFL growth of 5.0% in the first half of the financial year. Trading profit in the quarter shot up 10.3% to £139m from £126m.Full year profits at Pennon came in ahead of expectations, with growth at South West Water more than offsetting a slow-down at Viridr, the waste management unit. Profit before tax in the year to March 31st was £200.5m, ahead of market expectations of £196.2m and up from £188.5m the year before.Advertising and media giant WPP is to buy a majority stake in French digital data and campaign technology marketing group Predictys, as it attempts to widen its footprint in the digital industry. Predictys, founded in 2007 and headquartered in Grenoble, has a co-operative database which includes information from 140m opted-in consumers from among more than 25 co-op partners.