London pre-open: London set to get off to a flyer

8th Oct 2009 07:38

After yesterday's pause for breath leading shares are back at the races today, with dealers predicting the FTSE 100 will open just under 50 points higher.Attention is certain to focus on part-nationalised bank Lloyds Banking Group which is proposing to raise around £25bn in capital by means of a right issue and a debt to equity conversion. The plans will see the state's stake in the bank rise fomr 43% to 62%.Mobile phone retailer and broadband provider Carphone Warehouse reiterated its existing guidance for the year to March 2010, after posting rises in customers at its two divisions. Talk Talk, the firm’s broadband division, posted a net year-on-year gain of 15,000 new subscribers during the second quarter, compared with 47,000 in the first quarter. ISP Tiscali, which was acquired earlier in the year, saw its customer base fall by 62,000 during the period.Support services and construction company Carillion said it continues to perform well and remains on track to deliver materially enhanced earnings in 2009, despite challenging market conditions.Miner Vedanta said zinc, copper and aluminium operations were at full capacity during the second quarter as it revealed a 16% rise in refined zinc production and a 27% surge in iron ore output.Car and bike accessories retailer Halfords saw the rate of like for like (LFL) sales growth pick up in the second quarter of its financial year. With sales and margins improving the board said it expects full-year profit before tax to be in the range of £59m to £61m.Australian air Express (AeE) has extended defence firm Cobham’s long term contract to provide air freight services to eastern Australian ports. The contract extension is worth AU$100m.Bookmaker Ladbrokes announced plans to raise £275m via a rights issue as it warned that profitability has continued to weaken largely as a result of lower gross win margins. The group also scrapped it final dividend in 2009 but said it intends to re-instate dividend payments at the interim results next year.Recruitment firm Hays posted continuing sharp revenue falls across its geographical and business divisions in the quarter to September 30, with permanent recruitment fees leading the decline, falling by half.Italian restaurant chain Carluccio’s said it expects to post a pre-tax profit ahead of expectations after seeing an 8% rise in turnover in the year to 27 September.