London pre-open: Stocks fall ahead of GDP data

28th Mar 2012 07:39

City sources predict the FTSE 100 will open down 22 points from yesterday's close of 5,870, tracking falls in the US and Asia. The anticipated drop will also come ahead of UK GDP data for the fourth quarter, due to be released by the Office for National Statistics later this morning. Like-for-like (LFL) sales growth at pizza delivery firm Domino's Pizza has tailed off a touch in the last six weeks. Back in February, the group reported year-on-year sales growth on a LFL basis of 3.7% for the first seven weeks of 2012, but this rate had fallen to 3.5% for the period covering the 13 weeks to March 25th. In the corresponding period of 2011, LFL growth had been 4.2%.Support services firm Carillion has won two support services and construction contracts worth a total of £95m. The first is with FTSE 100 utilities giant Centrica, which owns British Gas, and is worth £50m over five years. The second contract is for the Pier 5 Reconfiguration project at Gatwick Airport, which is worth £45m and completion is expected in April 2014.Inter-dealer broker ICAP said it has seen an increase in risk appetite in some markets this year, but has left full year guidance unchanged from that given at the time of its last update at the beginning of February. The firm's voice business has seen a pickup in interest rate markets, but credit markets remain challenging, although there has been an increase in issuance.