London pre-open: Flat start ahead of Bernanke speech

26th Aug 2011 07:17

Today is the big day of the week, with Federal reserve chairman Ben Bernanke set to make an eagerly awaited speech at the central bankers' conflab in Jackson Hole, Wyoming.Investors seem disinclined to commit themselves ahead of Bernanke's speech, with the Footsie expected to open barely changed.In corporate news, transport logistics firm Stobart Group expects to declare figures for the first half of 2011 that are ahead of the corresponding period last year. Eastern Europe-focused oil producer Exillon Energy moved into the black in the first six months of 2011, with a net profit of $11.2m versus a loss after tax of $8.7m in the first half of 2010. The company said it sees considerable potential for further profitable growth by continuing to increase production and enhancing operational efficiency.The independent directors of Australian Stock Exchange-listed miner Coal & Allied have given the green light to plans by mining giant Rio Tinto and Japanese trading house Mitsubishi Corporation to take full ownership of the company, after Rio and Mitsubishi upped their offer terms.--jh