Interserve Share News (IRV)

LONDON (Alliance News) - Large-cap stocks in London are set to open higher on Friday, buoyed by the re-opening of trade talks between the US and China, while a consortium led by Interserve has won a GBP105 million contract to build a new college for Durham University.IG says futures indicate the FTSE 100 index to open 33.6 points higher at 7,558.10 on Friday. The FTSE 100 index closed up 0.8% at 7,524.50 on Thursday.In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average ending up 1.6%, the S&P 500 up 0.8% and Nasdaq Composite closing 0.4% higher.China has accepted an invitation from the US for a new round of trade talks to be held in late August.China's Ministry of Commerce said that a Chinese delegation led by Vice Commerce Minister Wang Shouwen will travel to the US for trade talks to be held with US Under Secretary of Treasury for International Affairs David Malpass."News that a trade delegation from China will visit Washington for trade talks boosted sentiment. This will be the first set of trade talks since an apparent deal fell apart months ago. However the impact could be short lived, given that there are no senior officials involved, demonstrating that China is not convinced that any serious progress is expected from these talks," said Jasper Lawler, head of research at London Capital Group.In early UK company updates, Royal Bank of Scotland confirmed that Chief Financial Officer Ewen Stevenson will step down from the board and his position with effect on September 30, to facilitate an orderly handover to Deputy CFO Katie Murray.Murray will take up the role on an interim basis with effect on October 1 as the FTSE 100-listed bank commences the search for a permanent successor. In a merry-go-round of finance chiefs, RBS had announce Stevenson's intended departure back in May. Then earlier this month, HSBC Holdings said Stevenson would replace Iain Mackay as group finance director. Meanwhile, Mackay is moving to drug maker GlaxoSmithKline as its new CFO.Construction firm Interserve said a consortium made up of it, asset management firm Equitix and student accommodation developer Campus Living Villages UK has reached the financial close on a GBP105 million project for Durham University.The scheme will involve the design, building and operation of two new college facilities on a 51-year concession. The scheme will total 1,000 bed spaces, as well as a new University hub building with sports and music facilities. The project will mark the first new Durham University college to be founded in the city since 2006, according to Interserve.Work is expected to start soon with construction due to be completed in 2020. Sterling was quoted at USD1.2722 early Friday, marginally lower than USD1.2727 at the London equities close on Thursday.UK Foreign Secretary Jeremy Hunt said on Thursday that a no-deal Brexit would be a "mistake we would regret for generations".Hunt said the UK government would consider EU proposals that demanded accepting European environmental and social legislation, in order to facilitate a free trade agreement.The comments came in an interview with ITV News after a meeting with the Dutch foreign minister as part of a three-day tour of northern Europe.When asked whether he was presenting the government's Brexit plan as "take it or leave it", Hunt answered: "No, but it is a framework on which I believe the ultimate deal will be based and I've been to several countries and met seven foreign ministers and am meeting more in the weeks ahead and I'm getting a strong sense that not just in Holland but in many of the places I've visited that they do want to engage seriously to try and find a way through to try and get a pragmatic outcome."The economic events calendar on Friday has inflation data from the eurozone and Canada at 1000 BST and 1330 BST respectively.In Asia on Friday, the Japanese Nikkei 225 index closed up 0.5%. In China, the Shanghai Composite is down 0.4%, while the Hang Seng index in Hong Kong is up 0.6%.