London pre-open: Slight decline expected in opening trade

17th May 2013 07:33

City sources predict the FTSE 100 will open down four points from yesterday's close of 6,688, ahead of the latest reading of the US consumer sentiment index, EU car registrations and the German wholesale price index. UK stocks finished in a mixed fashion on Thursday, while US markets were in decline after data failed to impress. In today's UK company news, Morrison Supermarkets has confirmed it is teaming up with Ocado Group to launch its first shopping website in January next year. The partnership had been expected as the two have been in talks since Morrison announced it was moving online in its annual results in March. Online grocer Ocado will provide its technology, logistics and distribution operations to Morrison. Intertek Group, which provides solutions to industries worldwide, has posted a 9.9 per cent year-on-year rise in revenue for the first four months of the year, driven by organic growth, favourable currency movements and the benefit of acquisitions made in 2012 and 2013. Sales growth at web and technology firm Premier Farnell came in well ahead of expectations in the first quarter though margins slipped slightly. Sales per day returned to year-on-year growth of 2.8% in the three months ended May 5th. Jefferies had expected no growth on last year, while the company itself had pointed to growth of just 0.5% in the first six weeks, implying a strong exit rate.