London pre-open: Stocks set to rise

9th Jun 2010 08:04

London's blue chips are expected to open firmer after yesterday's rebound by Wall Street. Financial software provider Misys is to return more than $1bn to shareholders after selling the majority of its stake in its Allscripts subsidiary. The sale of shares by Misys will enable Allscripts to proceed with its planned merger with US healthcare information technology firm Eclipsys.Online clothes retailer ASOS reported a whopping 44% increase in full year pre-tax profit while revenue surged 35% as UK and International online demand accelerated. "The widely predicted slowdown in consumer spending, specifically amongst the younger customer groups did not materialise and the Internet continued its strong growth as a retail channel," said chairman Lord Waheed Alli.Tullow Oil has found oil at its Mahogany-5 appraisal well immediately to the southeast of the Jubilee field offshore Ghana, making it four out of five strikes in the region.