London open: Footsie starts flat

London's blue chips have opened flat with utilities and airlines the bright spots on bid and recovery talk respectively. Irish no-frills airline Ryanair's third quarter loss came in lower than expected and it upped its profit estimate for the full year as new routes meant yields fall by less than expected. British Airways and Easyjet are higher in sympathy.Northumbrian Water is leading the water sector on reports a Canadian pension fund is poised to bid. United Utilities and Severn Trent are also in demand.The chairman of Premier Foods will quit after six years at the helm of the Hovis to Branston Pickle maker. Kappler, the former HMV chairman, plans to step down later in the year, once his successor has been identified. Premier Foods said it has commenced a succession process.A ramp up in production during the last three months of 2009 helped Xstrata achieve record annual production of thermal coal, mined nickel, zinc in concentrate and lead metal. It reported stronger second half volumes of chrome, platinum, copper, semi-soft and coking coal, with a 'significant' rise in fourth quarter volumes across almost all commodities compared to third quarter. Consulting and business services group Mouchel has entered into an arrangement with its banks to ease the fixed charge cover covenant on its banking facilities. The group said it has taken the step as a 'precautionary measure.'Sausages, bacon and pork specialist Cranswick piled on the sales in the run-up to Christmas with total turnover up by 31% to £200m. Organic growth from the underlying business in the three months to December was 17%, with 14% growth from CCF Norfolk, acquired in June 2009. Cranswick easyJet Severn Trent United Utilities Bay Capital Natwest