London pre-open: US data hopes boost FTSE

13th Mar 2012 07:28

City sources predict the FTSE 100 will open up 31 points from yesterday's close of 5,893, taking its lead from a strong finish by the Dow Jones and ahead of a wealth of economic data due out in the US later today.  Life assurance firm Standard Life delivered an increase in operating profits and cash flow in 2011 against an uncertain economic backdrop. Total income in 2011 rose to £1,579m from £1,501m the year before, while operating profit before tax from continuing operations climbed to £544m from £425m the year before. Group assets under administration rose to £198.4bn by the end of the year from £192.9bn at the end of 2010.Spread-betting firm IG Group experienced a significant slowdown in sales growth during the third quarter, after the previous market volatility that had helped sales in the first half was alleviated. In the three months to February 29th, revenue increased by just 1.5% year-on-year to £75m. In the first six months of the fiscal year, net trading revenue surged 27.8% to £195.46m.Chilean copper miner Antofagasta increased revenues and earnings by just under a third in 2011 on the back of record levels of output. Group revenue rose 32.7% to $6.08bn - a record figure for the group - from $4.58bn the year before. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 32.1% to $3.66bn from $2.77bn in 2010.