London pre-open: Revival set to continue

23rd Aug 2011 07:26

Footsie is tipped to open with a 50 point gain, continuing yesterday afternoon's revival.Security services provider G4S said it is seeing organic revenue growth accelerating in most regions and business sectors, as the global economy continues its recovery from the recession. Group turnover rose 5% on a constant exchange rates basis to £3.76bn in the first six months of 2011 from £3.58bn in the first half of last year. Profit before tax climbed to £149m from £142m in the first half of 2010.Chilean copper miner Antofagasta saw net earnings rise 54.3% to $696.2m in the first half of 2011 from $451.2m last year on turnover that rose to $3.05bn from $1.76bn last year. "While markets are likely to remain volatile, especially in the near-term, we remain confident that copper fundamentals will remain supportive of a strong pricing environment," said Marcelo Awad, Chief Executive Officer of Antofagasta Minerals.Reinforced polymer products manufacturer Fenner has acquired Transeals, a privately owned company based in Perth, Australia. The unaudited value of the gross assets acquired was A$5.586m. as at 30 June 2011. --jh