London open: Stocks edge higher after Greece approves reforms

(ShareCast News) - With inflation set to remain below its target for longer than expected and as the Greek crisis rolls on Barclays now thinks the European Central Bank will be forced to extend its programme of bond buying beyond the expected end date of September 2016.As of 0828 BST, the FTSE 100 was advancing by 15.05 points to 6,681.89.Despite the wariness displayed by those economists, stocks across Europe began the session higher after Greece's parliament gave its approval to a new package of economic reforms overnight, clearing the way for the start of negotiations on a third bail-out package.Nevertheless, the country's Prime Minister, Alexis Tsipras, was adamant that the current demands from creditors were excessive, saying he would make every effort possible to improve the final terms.Commenting on the vote, which took place in the early hours of Thursday morning, Barclays said: "We think the situation in Greece will remain fluid and the implementation of the third bailout will be challenging. More worrisome, we think the Greek crisis has this time altered the irreversibility of the monetary union, which will require action to speed up integration, along the lines of the "Five Presidents report".That followed a slip overnight on Wall Street amid some carry-through selling in the commodities space.Goldman Sachs on Thursday morning lowered its price forecasts for copper in 2015, 2016 and 2017 to $5,670, $4,725 and $4,500 per metric tonne, from $5,724, $5825 and $7,000 previously.The bank's analysts expected further supply to reach markets while private consumption in China was simply not capable of making up for lower demand as the government-led investment drive was wound down.On a related note, the largest hedge fund in the world, Bridgewater Associates LP, had turned against China. It was telling clients that the recent meltdown in the country's stockmarkets would have broad, far-reaching repercussions, The Wall Street Journal reported.Aberdeen hit as investors shy away from AsiaShares in Aberdeen Asset Management fell sharply after the company reported net outflows in the nine months to 30 June of £9.9bn, as institutional investors continue to reduce exposure to Asia and emerging markets equities.Sales slowed in the first quarter at SABMiller as declines in Europe, Asia Pacfic and North America held back drinks volume growth in Latin America and Africa. Group net producer revenue (NPR) grew by 3% on flat beverage volumes, down from the 5% growth seen last year.Kingfisher, which owns home improvement retailer B&Q, delivered a solid second-quarter sales performance across all its major businesses, albeit against softer comparatives than in the first quarter. In its pre-close update for the 10 weeks to 11 July, the company posted a 4.8% rise in total sales at constant currency, or 3.5% in like-for-like terms.Royal Bank of Scotland has agreed to dispose a portfolio of loans as part of a move to strengthen its balance sheet. The bank will receive around £400m offloaded to an entity funded by Deutsche Bank and funds affiliated with Apollo Global Management, trousering a profit of around £24m after costs.Britvic announced the acquisition of Brazilian soft drinks company Empresa Brasileira de Bebidas e Alimentos (Ebba) for around £113.6m. The transaction, which will be partly funded from the proceeds of a placing of new ordinary shares, provides Britvic with immediate access to the sixth largest soft drinks market and the largest concentrates market globally.SSE reported increased production in all of its divisions apart from coal, as the company said it expects lower profits from its energy supply business this year but higher profit from its management and generation business.Market MoverstechMARK 3,177.32 +0.50%FTSE 100 6,677.85 +0.16%FTSE 250 17,666.91 +0.12%FTSE 100 - RisersUnilever (ULVR) 2,918.00p +2.06%Shire Plc (SHP) 5,570.00p +1.92%ARM Holdings (ARM) 987.00p +1.75%Kingfisher (KGF) 373.10p +1.66%CRH (CRH) 1,907.00p +1.65%Relx plc (REL) 1,105.00p +1.10%Wolseley (WOS) 4,304.00p +1.03%Meggitt (MGGT) 463.70p +0.98%ITV (ITV) 272.90p +0.96%Fresnillo (FRES) 641.00p +0.94%FTSE 100 - FallersAberdeen Asset Management (ADN) 377.60p -5.48%Ashtead Group (AHT) 963.00p -4.37%SSE (SSE) 1,518.00p -4.35%Sainsbury (J) (SBRY) 268.20p -1.61%Glencore (GLEN) 224.80p -1.40%BP (BP.) 401.25p -1.32%RSA Insurance Group (RSA) 444.10p -1.20%Johnson Matthey (JMAT) 2,869.00p -1.07%Weir Group (WEIR) 1,552.00p -1.02%BHP Billiton (BLT) 1,172.00p -0.68%FTSE 250 - RisersMan Group (EMG) 157.00p +2.88%AO World (AO.) 124.00p +2.06%Hellermanntyton Group (HTY) 341.90p +1.88%Worldwide Healthcare Trust (WWH) 2,095.00p +1.16%Supergroup (SGP) 1,404.00p +1.15%Homeserve (HSV) 428.60p +1.13%Betfair Group (BET) 2,665.00p +1.10%John Laing Group (JLG) 221.50p +1.10%Cineworld Group (CINE) 498.20p +1.08%Pets at Home Group (PETS) 294.50p +1.03%FTSE 250 - FallersIP Group (IPO) 200.10p -3.10%TalkTalk Telecom Group (TALK) 346.90p -2.47%Kaz Minerals (KAZ) 182.30p -2.04%Drax Group (DRX) 265.30p -1.96%GCP Infrastructure Investments Ltd (GCP) 115.50p -1.79%Cairn Energy (CNE) 167.30p -1.70%Telecom Plus (TEP) 1,113.00p -1.68%Rank Group (RNK) 237.90p -1.29%Evraz (EVR) 110.70p -1.25%Rathbone Brothers (RAT) 2,200.00p -1.17%