London pre-open: Stocks to retreat after rally

10th Jun 2011 07:38

Stocks are expected to give back some gains on a typically quiet Friday on the company news front. Economic resilience in the southeast of England helped brewer and pub operator Fuller, Smith and Turner post a strong rise in profits in the year to 2 April. The company, whose pubs only stretch as far north as the Midlands, saw adjusted pre-tax profits rise by 10% from the previous year to £29.3m on revenues up 6% to £241.9m.Daily Mail publisher DMGT said it is reviewing alternatives for its US retail trade show operation, after reports said the media company is considering selling the business for £122m. DMGT said the strategic review of George Little Management, which organises events in retail sectors such as clothing and jewellery, comes after it concluded that it should focus on more exciting areas such as energy and the Middle East. Oil and gas facilities provider Petrofac has acquired an additional 11.9% stake in Nigerian production and development firm Seven Energy International for $75m.