London pre-open: London cheers US QE move

4th Nov 2010 07:41

The decision by the Federal Reserve to purchase a further $600bn of longer term treasuries by the end of the first half of 2011 has cheered London, though the chances of the Bank of England following the Fed's move and announcing a resumption of quantitative easing (QE) at noon today are considered remote.Unilever's turnover in the third quarter was up 13.2% at €11.55bn from €10.20bn a year earlier, ahead of some market forecasts of €11.35bn. Underlying sales growth in the third quarter was 3.6%, while the growth rate for the first nine months of 2010 was 3.8%. Net profit in the third quarter rose 21% to €1.35bn.BHP Billiton's bid for fertiliser giant Potash has been blocked by the Canadian government on the grounds it is not in the country's interest.Insurer RSA Group maintained top line momentum in the third quarter despite challenging trading conditions. Net written premiums in the first nine months of 2010 totalled £5.53bn, up 10% from £5.03bn the year before. With exchange rate fluctuations stripped out the rise was 7%.