London pre-open: Greek deal to spark good start for FTSE 100

13th Feb 2012 07:27

City sources predict the FTSE 100 will open up 36 points from Friday's close of 5,852 after the Greek government voted in favour of a new set of austerity measures, including wage and pension cuts, which will form the conditions of a new bailout in a bid to prevent it from defaulting on its debts. Mobile telecoms giant Vodafone has confirmed it is running the rule over rival telecoms firm Cable and Wireless Worldwide (CWW). CWW's shares have lost almost three-quarters of their value over the last year after a series of profit warnings. Vodafone said it is still in the very early stages of assessing whether to make a bid and indicated that if it were to do so, the offer would likely be in the form of cash for shares.Telecom Plus, the utility provider which trades as Utility Warehouse, said full year profits are expected to be slightly ahead of market expectations, after it enjoyed a recent acceleration in organic growth. The company revealed it is set to pay a full year dividend of 27p, up from 22p the year before. Anglo American Platinum (AAP), the platinum group metals (PGMs) producing subsidiary of FTSE 100 mining giant Anglo American, saw the headline earnings fall from $674m to $527m in the full-year ended December 31st. As such, the contribution to Anglo American's underlying earnings has fallen to $410m, down from $425m in 2010.