London pre-open: Stocks to track US indices higher

3rd Apr 2012 07:25

City sources predict the FTSE 100 will open up 10 points from yesterday's close of 5,875, tracking US stocks higher which rose on the back of better-than-expected US and Chinese manufacturing data. Whitbread has given Finance Director Chris Rogers the job of running its Costa Coffee chain and implementing worldwide expansion plans. Chris Rogers, who joined Whitbread in 2005 as group finance director, will lead a five year growth plan to increase the size of the business to 3,500 stores worldwide, £1.3bn system sales and 3,000 Costa Express machines by 2016. Drugs giant GlaxoSmithKline has received top-line results from seven of the eight 'Harmony' drug development Phase III studies investigating the use of albiglutide in type 2 diabetes. Glaxo said that based on the studies it has performed so far, there is enough information to support progression to regulatory submissions, as a possible once-weekly treatment for type 2 diabetes.Equipment rental group Ashtead has acquired Philadelphia-based peer Topp Construction Services and its related company Precision Steel Works. The two companies have been bought for a total consideration of $33.5m in cash, which included the among paid to settle Topp's net debt at closing.