London pre-open: Stocks to start quietly firmer

10th Dec 2010 07:30

As expected, it has been a quiet day for company news so far in London with traders looking to the US to provide a lead on market trends. Wall Street's late rally yesterday looks set to give a boost to London's blue-chips at the outset, with City traders expecting the FTSE 100 to open around 18 points firmer.Infrastructure specialist Balfour Beatty has won a contract extension in conjunction with London Underground. The five-year contract, worth around £110m to Balfour Beatty, is to carry out track renewal work. Oilfield services firm Wood Group has been awarded a five-year gas turbine Term Maintenance Agreement by Stadtwerke München, Germany's largest municipal gas and electricity companyProperty company British Land and investment firm Blackstone Group have submitted planning application for 5 Broadgate, the office building in the City that initially will be let out to Swiss banking giant UBS.Flybe, Britain's biggest domestic airline, has priced its flotation at 295p, valuing the carrier at £215m. Conditional dealings start this morning. The airline will sell 20.4m new shares, some 28% of the company, which will raise about £60m for the carrier