London pre-open: Week to start on a dull note

27th Jun 2011 07:45

London is set to start the week heading in its now familiar southerly direction, with City traders predicting the blue-chip index will open around 20 points down from Friday's close of 5,698.Grocery deliverer Ocado said the only limit on its growth is capacity as it moved into profit in the half year to 15 May and announced a deal to supply products from French supermarket Carrefour.Global banking titan HSBC said its Saudi wholesale and investment banking business is to merge with a subsidiary of the Saudi British Bank (SABB).UBM, the FTSE 250 business events organiser and publisher, has signed an agreement to sell its UK entertainment and technology product portfolio to Intent Media Ltd for £2.4m.--jh