London pre-open: FTSE to continue its winning streak

City sources predict the FTSE 100 will open up 21 points from yesterday's close of 5,956, with investor sentiment boosted after stocks surged in the US and Fitch announced an upgrade of its rating for Greece out of default territory. All four of insurance leviathan Legal and General's operating business divisions delivered increased sales, cash generation and profits in 2011. Although operating profit in 2011 rose to £1,056m from £1,002m the year before, profit before tax eased to £956m from £1,092m in 2010, below market expectations of £976m. The decline in pre-tax profit was largely due to the absence this time round of asset related investment variances, which contributed £0.19m to profits in 2010. Pre-tax profit at Africa-focused oil and gas giant Tullow Oil broke through the one billion dollar barrier in 2011, helped by a ramp-up in production and significantly higher commodity prices. "2011 was a very good year for Tullow. Industry leading exploration success continued with the opening of a major new basin offshore French Guiana as well as further discoveries in Africa," the firm said.Brewer and pub operator Marstons has reported sales slightly above expectations in the 23 weeks to 10 March. The trading update, which covers the bulk of the first half of its financial year, showed like-for-like sales for were 3.5% ahead of last year.