London pre-open: Quiet start expected

City sources predict the FTSE 100 will open little changed, as the market awaits more developments in the Eurozone. Real estate investment trust British Land increased underlying profit before tax by 5.1% to £269m in the year to the end of March. Net asset value per share was up 4.9% to 595p. "We outperformed the broader UK commercial property market on almost all key measures and our balance sheet is strong," said Chris Grigg, British Land's Chief Executive.Power systems developer Rolls-Royce has won a contract worth $136m to supply its Trent units to existing customer Dolphin Energy, a company which transports natural gas from Qatar to the United Arab Emirates and Oman via a sub-sea pipeline.Media giant WPP has entered into an agreement to buy a stake in Myanmar-based advertising agency, Today Advertising. The acquired company, based in Yangon, employs 60 people.JH