London pre-open: London to follow Wall Street higher

23rd Dec 2011 07:50

London's leading stocks are set to edge higher in a truncated trading session ahead of the long week-end. Taking its lead from Wall Street, which enjoyed a good day on the back of some favourable economic data, the FTSE 100 is set to open around 30 points up from yesterday's close of 5,457. Corporate news is predictably thin on the ground.Perform, the digital media firm specialising in sports content, has acquired two related German businesses: Spox Media and mediasports Digital. The two businesses are being acquired for an initial cash consideration of €3.65m, with a maximum deferred cash consideration of €12.35m payable. Property group London and Stamford has sold 17 warehouses, comprising the Triangle Distribution Portfolio and including the recently acquired 5110 Magna Park, Lutterworth. The selling price is £265m, a figure which exceeds the valuation figure for the portfolio as at 30 September 2011. The sale will only complete at the year end so allowing the Company to retain the benefit of this income for its full financial year.Insurance firm Amlin has acquired coverage for US hurricane, US earthquake and European windstorm perils of up to $150m from a Bermudian special purpose insurer, Tramline Re Limited, which in turn is placing a catastrophe bond for this amount into the capital markets.--jh