News

Top stocks are due to start slightly below flat with traders predicting FTSE 100 will open down 9 points.

Defence firm BAE Systems has acquired business and technology consultant Detica for approximately £531m.

The offer will be 440p per share in cash and represents a 57% premium to the closing price of 281p on 12 July 2008, the last business day prior to Detica's announcement that it had received an approach.

Publisher Pearson saw profits increase for the half year as sales across its divisions rose, including the FT Group, which continues to benefit from the shift to subscription and digital revenues from ad revenues.

Pre-tax profit for the period increased to £55m from £35m in the same period last year on sales that increased 14% to £1.96bn. The FT Group saw sales increase 11% and profits up 21. Advertising revenue for the half year increased 2%.

Household products firm Reckitt Benckiser said net revenues rose 20% to £1,564m in the second quarter and is on track to achieve its net revenue growth target of 11-12% in the full year.

"We are also fully on track to achieve our full year net income growth target of 11% at constant exchange, or around 19% at actual exchange (excluding restructuring, base £905m)," it added.

In the press, French energy giant Electricitie de France (EdF) may take a stake in Centrica's wind farms and other assets as part of a deal to bring the UK into its planned £11bn-plus takeover of nuclear generator British Energy (BE), says the Telegraph.

Lawyers acting for BP could file legal proceedings against AAR, the investment group with which it jointly owns Russia's TNK-BP, as soon as this week after another weekend of claim and counter claim in the bitter dispute between the oil giant and its Russian partners, says the Independent.

The Qatari Investment Authority has emerged as a potential new bidder for Land Securities' £1.4bn outsourcing arm Trillium, reports the Telegraph.