London pre-open: Lower start expected ahead of data

25th Jul 2013 07:58

Stocks are expected to fall slightly on Thursday morning as investors get set for a busy day for economic data. City sources predict the FTSE 100 will open down 13 points from yesterday's close of 6,620. The IFO survey on the business climate in Germany during July is due out this morning, along with the first estimate of second-quarter UK economic growth. In the States meanwhile, durable goods orders will be the key focus of the day, along with the weekly jobless claims figures.Stocks to watchRolls-Royce Holdings posted a 34% jump in pre-tax profits to £840m for the first half as the engine maker secured more orders. Underlying revenue was up 27% to £7.3bn, including a £1.1bn contribution from Tognum which was incorporated into the firm's results for the first time since it acquired the German firm with Dailmer in 2011. Consumer products giant Unilever delivered robust growth in underlying sales in the first half and improved margins despite admitting that the economic environment remains tough. "This set of results clearly demonstrates that the transformation of Unilever to a sustainable growth company is fully on track," said Chief Executive Officer Paul Polman.BC