London pre-open: Looking for direction

1st Jun 2011 07:39

Investors seem set to take a pause for breath after yesterday's solid gains, postponing a renewed assault on Footsie's 6,000 level.City traders expect the blue-chip index to open around 7 points lower at 5,983.Anglo-Australian mining giant BHP Billiton has scored a $580m victory against the tax man in the Australian High Court. The dispute concerned the claw-back of capital allowance deductions claimed by BHP Billiton for the ill-starred Port Hedland plant, Cruise operator Carnival has placed an order for a massive 141,000-ton, 3,611-passenger cruise ship, set to be the largest in its P&O Cruises fleet.Insulation specialist SIG is to sell its safety and work wear business to outsourcing firm Bunzl for an undisclosed sum.--jh