London pre-open: Slight advance expected

Footsie is expected to edge up in early dealings, building on gains yesterday.Home Retail Group said both Argos and Homebase enjoyed better than expected sales in the quarter and grew market share. Total sales at Argos grew by 0.9% in the 13 weeks ended 30 May to £937m, while like-for-like sales declined by 2.8%. Good growth continued in consumer electronics as a whole, and toy sales were strongly ahead, though the furniture and homewares markets continued to be challenging.Electronic components distributor Premier Farnell saw first quarter profit slump 63% as the poor market trends it experienced in the fourth quarter persisted. Pre-tax profit slumped to £9m from £24m before on first quarter revenue that fell 15% to £204.3.Consumer packaging group Rexam has refinanced its £775m revolving credit facility and a number of smaller bilateral facilities which mature in 2010. The refinancing package, which totals £860m of new committed debt facilities, consists of £647m of syndicated forward start commitments and £213m of new bilateral commitments, all maturing in the second half of 2012. Struggling metals trader Wogen has received an approach about a possible offer from executive directors of the company. The group is being led by Damian Brousse and it controls 61% of the company's shares. Wogen also reported a slump into losses in the six months to March 31 amid deterioration in the speciality metal markets.System C, an information solutions and services provider to the healthcare sector, expects profit for the financial year ending 31 May 2009 to be at or around the top end of market expectations. The group said pre-tax profit is expected to be over 20% higher than for the year to 31st May 2008. Sysgroup Home Reit