London pre-open: Stocks play catch-up

30th Aug 2011 07:28

Having missed out yesterday on the strong gains seen on stock exchanges that were open for business, London is in the mood to catch up today, with City traders suggesting the blue-chip index will open around 120 points up from Friday's close of 5,130.Margins are on the mend at house builder Bovis Homes, which saw profits more than double in the first half of 2011. Profit before tax surged to £8.6m in the first six months of the year from £3.5m the year before.Gold miner Randgold Resources' Loulo/Gounkoto complex in Mali suffered in the third quarter after abnormally heavy rainfall. The bad weather has meant that targets for the third quarter have been substantially lowered as a result.Dominique Yates has been appointed as Chief Financial Officer of Regus, the workspace provider, taking over from Stephen Gleadle, who is stepping down after six years in the role to pursue other opportunities.Insurers could see some buying interest this morning, after estimates of the likely damage done by Hurricane Irene were trimmed back by Kinetic Analysis Corporation, a hurricane damage prediction specialist.