London pre-open: Indecisive start in store

21st Sep 2010 07:37

In keeping with the other major European indices the Footsie is expected to open barely changed from last night's close, with traders keeping their powder dry ahead of this evening's announcement from the US Federal Reserve about its interest rate policy and, more importantly, its stance on further stimulus for the US economy.In company news, oil giant Cairn Energy's Greenland drilling campaign has got off to a duff start. The company has plugged and abandoned its first major drilling well in its extensive Greenland drilling programme after deciding it was not commercial.Outsourcing giant Serco said King's College Hospital NHS Foundation Trust has joined GSTS Pathology, the joint venture between Guy's & St Thomas's NHS Foundation Trust and Serco. GSTS Pathology has been awarded a ten-year contract valued at around £300m, starting October 2010, as the principal provider of pathology for King's.Sports-themed fashion apparel retailer JD Sports saw profit before tax surge 36.5% to £19.39m in the 26 weeks to 31 July from £14.2m in the corresponding period of last year. Revenue grew 18.5% to £383,9m from £324.0m the year before, Like for like (LFL) sales rose by 2.8% in the UK and Ireland, with the Sports Fascias showing a 3.9% LFL gain while the Fashion Fascias saw a 3.8% drop in LFL sales.