London pre-open: Relief over Ireland rescue

22nd Nov 2010 07:37

Ireland's decision to accept a bailout worth up to €100bn is set to relieve markets Monday following weeks of speculation and concern about the former 'tiger' economy.The FTSE 100 could add around 50 points in early deals, according to futures prices. It's a slow start to the week on the company's front. But Rolls-Royce has picked up a morale boosting $1.8bn (£1.1bn) engine order from China just weeks after the problems that grounded Airbus A380 super-jumbos around the world. Air China wants the engines to power a total of 20 new aircraft, comprising ten Airbus A350 XWBs and ten A330s. The contract includes a TotalCare long-term service agreement.Mining heavyweight Anglo American has puts its Callide thermal coal mine up for sale. The mine in Central Queensland, a low cost coal producer, will go as part of Anglo's focus on growing its metallurgical coal and high margin export thermal coal businesses. It mostly supplies domestic power stations in Queensland, producing 8.8m tonnes of thermal coal in 2009 and possessing expansion potential from its resource base of more than 1bn tonnes.