London pre-open: Pause for breath

16th Aug 2011 07:33

London's more reflective mood this week looks set to continue, with City traders betting that all of yesterday's gains on the Footsie will be relinquished at the outset.Spread betting quotes suggest the top-share index will open at around 5,310, down 41 points from last night's close.Witan Investment Trust, which hit a 52-week low earlier this month, said its performance outstripped its benchmark in the first half of 2011. The company's net asset value (NAV) total return was +3.6%, a relative out-performance of 0.6% over the FTSE All-Share index.  Life assurance firm Resolution saw IFRS-based operating profit before tax shoot up to £390m in the first half of 2011 from £151m the year before. Operating profit on an MCEV basis was unchanged at £180m.Water company Pennon said financial performance since the end of March has been in line with management expectations.