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FTSE preview: Lloyds, Interserve, Diageo

By Reuters
Updated: 02:58 EDT, 25 February 2011

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London blue-chip stocks are expected to open positively today, after the oil prices rises abated overnight.

The FTSE 100 index is set to climb 10-13 points on the open after it closed down 3.5 points at 5,919.9 yesterday.

Oil was still hovering above $112 a barrel on Friday on easing worries of Middle East supply disruptions. Brent oil prices had vaulted more than 7% to almost $120 on Thursday before pulling back on rumours that Libyan leader Muammar Gaddafi had been shot and on Saudi Arabia's reassurances that it could counter Libyan supply disruptions.

Market watchers, however, said that investors are likely to remain on edge.

'Saudi assurances that they can make up any oil production shortfall from Libya have certainly been well received, but the question remains whether we're going to see the situation spread further still,' Ben Potter, a market strategist at IG Markets, said.

In terms of domestic economic data, investors were waiting for the second reading for UK fourth-quarter GDP at 0930 GMT.

Also, British consumer confidence edged higher this month from January's 22-month low after a slight recovery in shoppers' personal financial situation and willingness to make big purchases, a GfK NOP survey showed.

UK stocks to watch today:

Interserve: is in advanced talks with Mouchel over a tie-up that would create one of Britain's biggest public sector outsourcing companies, the Financial Times said.

Diageo: The world's largest spirits company is pouring more money into emerging markets, and expects those faster-growing regions to make up half of its sales in five years, its chief executive said, citing acquisitions and a burgeoning middle class.

BSkyB: News Corp is close to an agreement with British regulators over a remedy for concerns about its $21.3 billion bid for broadcaster BSkyB, the Financial Times said.

National Express: chief exec Dean Finch has rejected the prospect of a corporate break-up after it emerged that an activist New York hedge fund has built up a significant stake in the group, the Guardian said.

Lloyds Banking Group: The bank reports full-year results.

Aminex: The oil and gas explorer holds an extraordinary general meeting.

Brit Insurance: The insurer reports full-year results.

Berendsen: The support services company reports full-year results.

Brewin Dolphin: The financial services group holds its annual general meeting.

Colt Group; The corporate telecoms specialist reports full-year results.

Rightmove: The property site reports full-year results.

Rank group: The gaming firm reports full-year results.

Spectris: The engineer reports full-year results.

William Hill: The bookmaker reports full-year results.

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