London pre-open: Moderate gains expected on FTSE ahead of summit

City sources predict the FTSE 100 will open up 16 points from yesterday's close of 5,524, ahead of the EU summit which begins today. Many of Europe's top leaders are in disagreement over some of the biggest issues which the region is facing, including shared debt liability. Royal Dutch Shell has extended its offer for AIM-listed oil and gas producer Cove Energy by two weeks and urged Cove shareholders who have not yet accepted to do so. The offer, which was first extended to June 27th, will now expire on July 11th.Shares of energy giant International Power (IPR) were suspended from trading on the London Stock Exchange (LSE) on Thursday morning as its takeover by parent company GDF SUEZ faced delays. On April 16th, the companies announced that they had reached agreement on the terms of a recommended cash offer for the remaining shares of IPR. This is to be effected by means of a court-sanctioned scheme of arrangement.Property company London and Stamford has completed the acquisition of an office building located on Leatherhead Office Park in the South East for £61.15m. This sum, which excludes costs, reflects a net initial yield of 6.85%. The property comprises 179,457 sq ft and is let in its entirety to Unilever UK, for which it was purpose built, at a rent of £4.43m per annum. The unexpired lease term is for a further 11 years. The purchase of Unilever House also includes 520 car parking spaces and an existing planning consent to extend the building.