London pre-open: Stocks track falls in the US and Asia

29th Mar 2012 07:31

City sources predict the FTSE 100 will open down 17 points from yesterday's close of 5,809 after taking their lead from the US and Asia. Investors are awaiting jobless data from the US, with weekly claims expected to rise by 2,000 to 350,000. Cigarette maker Imperial Tobacco said it improved its revenue and profit momentum as it entered the second half of its financial year. First half reported tobacco net revenues (at constant exchange rates) are expected to increase by around 3% and reported stick equivalent volumes are expected to decline by around 4%. That compares with a 7% year-on-year fall in stick equivalent volumes in the three months to the end of December, and a 1% fall in net revenues.Power systems group Rolls-Royce has won an order to design and equip four offshore supply vessels in China for COSCO (Guangdon) Shipyard Co. The four UT 771 CDL vessels will be equipped for transporting pipes, equipment and cargo to and from pipe-laying barges, oil drilling and production platforms. The contract is worth £24m to Rolls-Royce.Package tour operator TUI Travel said UK winter trading has been ahead of expectations, while overall the group has traded much as the board anticipated in the six months to the end of March. "Summer 2012 volumes have improved in all key markets since our last update," revealed Chief Executive, Peter Long. "We are pleased with the development of bookings and pricing in the UK, where we continue to out-perform the market and have a strong performance in online sales," he added.