Despite the barrage of results from FTSE 100 companies this morning London cannot make its mind up which direction to go in. City traders expect the blue-chip index to open barely changed.

Royal Dutch Shell has trumped forecasts by almost doubling earnings in the second quarter, in stark contrast to loss-making rival BP, and has exceeded targets set last year for costs and staff cuts. Earnings on a current cost of supplies (CCS) basis came in at $4.5bn, up from $2.3bn a year ago. Analysts had expected somewhere around the $4bn mark.

Defence firm BAE Systems continues to expect revenue growth in 2010 despite the threat of cutbacks in government spending. The company saw sales grow 9% in the first half of 2010 to £10,643m from £9,747m the year before. On a like-for-like (LFL) basis, sales increased by 7%. Underlying earnings before interest, tax and amortisation improved 14% to £1,114m from £978m a year earlier.

Pay TV and internet service provider British Sky Broadcasting posted slightly better than expected full-year figures but warned that the economic outlook remains uncertain. Underlying operating profits were up by 10% in the 12 months ended 30 June to £855m, while revenue rose to £5,912m from £5,359m.

Cobham subsidiary Cobham Analytic Solutions has been selected as a prime contractor to provide infrastructure and deployment support services to the US Missile Defense Agency.

Related share prices
BAE Systems (BA.) share price
British Sky Broadcasting Group (BSY) share price
Cobham (COB) share price
Royal Dutch Shell 'B' (RDSB) share price