London pre-open: Stocks to rise ahead of Eurozone GDP data

14th Aug 2012 07:17

City sources predict the FTSE 100 will open up 27 points from yesterday's close of 5,832, as expectations of further stimulus builds ahead of the release of Tuesday's Eurozone GDP and US retail sales data. Elsewhere, the minutes from the latest policy meeting of the Bank of Japan have revealed that its policymakers are weighing up whether to introduce further stimulus action to the country's economy. Japanese GDP was dragging at 1.4% during the quarter ended June, compared to 5.5% in the previous quarter. Anglo-Swedish drugs colossus AstraZeneca has raised earnings guidance a tad after signing a deal with US pharmaceuticals titan Pfizer. Astra's core earnings per share (EPS) target for 2012 has been increased to the range of $6.00 to $6.30 after the group revealed that Pfizer is to stump up for the exclusive global rights to market NEXIUM for the approved over-the-counter (OTC) indications in the United States, Europe and the rest of the world. Life assurance behemoth Standard Life saw profits rise in the first half after a strong performance in the UK, its biggest market. Operating profit before tax was up 15% to £302m with the firm reporting group assets under administration of £204.2bn, up from £198.4bn the year before. In the UK profits rose 62%, from £87m in the first half of 2011 to £141m this year.Severe weather and tough economic conditions in Europe saw earnings slip at building materials group CRH in the first half of the year. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 1% year-on-year from €574m to €568m, more or less in line with the company's guidance in May of "close to last year's level".