London pre-open: Slow start expected

31st Mar 2010 07:37

A subdued start is expected from Footsie in early dealings as investors digest updates from food-related stocks.Telecoms regulator Ofcom is on a collision course with BSkyB after it ordered the satellite broadcaster to make its two top sports channels available to rivals at a 23% discount to the current price.Catering giant Compass said it has had a good first half, with efficiency measures helping to improve margins in the face of sluggish revenues in many markets. The company, which provides catering for schools, businesses and hospitals, said revenue is expected to be broadly flat compared with the same period the previous year, with efficiency measures helping to improve margins by about 50 basis points.Goodfellas pizza and Fox's biscuits group Northern Foods reported a drop in fourth-quarter like for like sales but said it will deliver full-year profits in line with expectations. The group said the 1.8% in quarterly like for like sales was due to the planned exit from its low margin frozen business.Sugar and sweeteners company Tate & Lyle said currency movements, in particular the stronger US dollar, will benefit its reported performance in the final quarter. Underlying trading in the quarter has been consistent with expectations, the group added.SSE Renewables, the renewable energy development division of Scottish and Southern Energy (SSE) has secured a £400m loan facility from the European Investment Bank (EIB) to help finance the development of renewable energy schemes in the UK and Ireland. The EIB funding takes the total funding which SSE has secured since July 2008 to almost £3.8bn.