London pre-open: Small drop ahead

London's top stocks are expected to open around 15 points lower as investors consider a bunch of corporate results.Lloyds Banking returned to profitability in the first quarter and said it expects this momentum to be sustained throughout the rest of the year. The lender, 41% owned by the taxpayer, did not provide a profit figure in today's statement, but said it made a profit on a combined businesses basis due mainly to a significant downward trend in impairments. BP more than doubled profits during the first quarter following stronger than expected results from both the upstream and downstream businesses. Replacement cost profit for the first three months of the year leapt to $5.60bn from $2.39bn a year earlier and up from $3.45bn in the fourth quarter of 2009. Customers smoking roll-ups rather than branded cigarettes keep earnings momentum strong at Imperial Tobacco in the first half, despite the impact of recession in many of its main European markets. Revenue in the six months to March jumped by 8% to £13.4bn, from £12.4bn, with profits coming in at £974m versus a loss of £184m last time. Drugs giant AstraZeneca has received more good news on its cholesterol-lowering drug Crestor after the European Union cleared its use in nineteen European countries for patients at risk of a first heart attack.