London pre-open: Wall Street casts a shadow

17th Aug 2009 07:45

London stocks are set to start the week on a weak note after Friday's retreat on Wall Street in the wake of gloom consumer sentiment figures.Traders predict the FTSE 100 index will open around 30 points down from Friday's close of 4,713.Silver miner Fresnillo saw revenue slide in the first half of 2009 by 10.7% from a year earlier to $378.9m, as the realised silver price over the period dropped 21.9% to $13.92. Earnings before interest, tax, depreciation and amortisation eased 4.1% to $203.4m.Pre-tax profit halved at Michael Page in the first half, but the recruitment firm said the rate of decline in the UK and the Asia Pacific region has slowed. The group also said that it will continue to 'adjust' its headcount in response to market conditions. In the last twelve months Michael Page cut staff by a third, largely through natural attrition.Shaftesbury warned that demand for offices continues to fall, though the London's West End-focused property firm said demand for retail, restaurant and residential accommodation continues to be healthy.