London pre-open: Gains ahead

16th Jul 2010 07:32

London's top stocks look set to open slightly higher, with traders expecting Footsie to add about 15 points early on.Talks to sell Candover to a Candian pension fund have collapsed, leaving the future of the struggling private equity group even more uncertain. Alberta Investment Management approached the venture capitalist over a possible takeover and cash injection in April, but after formal talks started, the discussions have unwound.Accountancy software provider Sage has named Guy Berruyer, currently head of its mainland Europe & Asia operations, as the man to take over from chief executive Paul Walker. Berruyer has spent 13 years at the firm, joining to run its French operations in 1997. He made it to the board in January 2000.BP confirmed this morning that it has succeeded in stopping the flow of oil pouring into the Gulf of Mexico for the first time in three months. The shutdown is part of an "integrity test" to see if the leaking wellhead can finally be contained. The test started last night and will last at least 6 hours and could last up to 48 hours. It is expected that no oil will be released to the ocean during the test. Asset under management fell 7.2% at fixed income fund manager BlueBay Asset Management during the fourth quarter due to foreign exchange issues, but still predicts a big increase in full-year profit. At the end of June, the company had $34.3bn of assets under management, down from $37bn on 31 March, but up 41% on the same time last year.