London pre-open: Lloyds in focus as Footsie targets 5,300

It looks like being a bright start to the week, with the leading index predicted to rise 50 points at the start of play and Wall Street showing early indications it will jump later today.There's also good news at Lloyds Banking Group where the bank has the part-nationalised lender enjoyed "strong demand" for its £9bn offer to swap existing debt for contingent capital.Offers to exchange £12.51bn of existing securities were received, of which £8.78bn have been accepted, said the bank. Earlier this month, Lloyds said it was raising £21bn from a 13.5bn rights issue and £7.5bn swap of existing debt for contingent capital. Elsewhere, oil explorer Soco's confidence over its Viodo prospect, offshore Congo, has been boosted after an encouraging latest test drilling. The Viodo Marine 4 vertical appraisal well tested at a combined maximum flow rate of approximately 2,600 barrels of oil per day and 7m standard cubic feet of gas per day following two drill stem tests, Soco said.Credit checking firm Experian has created a joint venture with seven of India's leading financial institutions to operate a credit information company in India. It had already been granted a provisional licence, and the company now intends to apply for a final licence with the backing of Axis Bank, Federal Bank, Indian Bank, Magma Fincorp, Punjab National Bank, Sundaram Finance and Union Bank of India. Experian will own 49% of the joint venture, called Experian Credit Information Company of India.Higher tariffs and reduced spending helped Northumbrian Water offset a decline in demand to post a rise in pre-tax profits in the half year to September 30. The firm, which operates water and waste services in the northeast of England, saw pre-tax profits rise to £87m from £77.1m over the same period the previous year on revenues that climbed to £351.2m from £347.7m. The dividend was lifted to 4.39p from 4.29p.The first half of the current financial year has been one of consolidation for civil engineering consultant Hyder, with revenue and profits little changed from the interim stage last year. Profit before tax in the six months to the end of September was £5.67m, virtually unchanged from a year earlier, on revenue that grew to £156.26m from £151.56m a year earlier.Miner First Quantum has agreed to buy rival Zambia-focused base metal miner Kiwara in a cash and share deal worth £158m. The deal will see Kiwara shareholders receive cash and shares worth an equivalent 75p per share, a 41.5% premium to the closing price last Friday. Prior to the bid, Kiwara shares had already risen more than 250% over the past 12 months.Support services and asset management firm Mitie posted a rise in profits in the six months to September 30 and said efficiency drives in the private and public sector will create further opportunities for growth in the next year. Mitie, whose services include roofing, catering and painting, saw pre-tax profits climb to £42.3m from £37.6m over the same period the previous year on revenues that rose to £801.1m from £760.7m. The interim dividend was lifted to 3.7p from 3.3p.