Stock Market News
London midday: FTSE 100 fights back
13-06-2011 12:15
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Shares have climbed higher after an indifferent start, with mining stocks and banks sending the top share index higher.
Imperial Tobacco is lower though after it slashed profit expectations for its Spanish business as competition in the country forced it to cut prices for cigarettes. Imperial, whose brands include Lambert & Butler and Gauloises Blondes cigarettes, said operating profits in Spain could fall short of previous expectations by up to £110m.
Mining giant Kazakhmys is in demand after it secured a $1.5bn loan facility to help the development of a major copper project at Aktogay in Kazakhstan. A memorandum of understanding was signed on Monday with the China Development Bank Corporation (CDB) for the loan. Kazakh peer ENRC is also higher.
In the banking sector, Lloyds is among the top risers.
Aim-listed wine retailer Majestic Wine reported a 26.6% increase in full year profit, lifted its final dividend and said it was encouraged by current trading despite challenging market conditions.
Energy services firm Wood Group will return 140p per share to its shareholders, in the second stage of its £1.08bn return of cash programme. Following the £412m returned through a tender offer two weeks ago, the company will return the residual £665m.
Safety systems specialist Latchways is in demand after it reported record annual profit and revenue as it introduced new products and ramped up sales to overseas markets. The group, whose safety systems are used to provide worker safety in wind power turbines, commercial rooftops, electricity transmission towers, aircraft wings and industrial plants, said pre-tax profit rose to a record £9.3m for the year ended 31 March 2011 from £7.6m the year before.
Fire engine supplier Assetco jumped after it confirmed it is in discussions with a "number of parties which may or may not lead to an offer being made for the business," it confirmed in a statement Monday morning.
Sterling Energy lost a quarter of its value, sinking to a 52-week low, after a disappointing open hole flow test at its Sangaw North-1 well in Kurdistan.
North Sea-focused oil group Faroe Petroleum fell after it said its Lagavulin exploration well near Shetland has not been successful and that it has incurred in cost overruns on that project.
FTSE 100 - Risers
Eurasian Natural Resources Corp. (ENRC) 785.50p +5.86%
Kazakhmys (KAZ) 1,254.00p +3.72%
Essar Energy (ESSR) 443.00p +2.36%
Lloyds Banking Group (LLOY) 47.92p +1.97%
ARM Holdings (ARM) 577.00p +1.67%
Sainsbury (J) (SBRY) 328.60p +1.61%
Vodafone Group (VOD) 161.15p +1.42%
International Consolidated Airlines Group SA (IAG) 225.20p +1.30%
Barclays (BARC) 259.75p +1.27%
WPP (WPP) 736.50p +1.24%
FTSE 100 - Fallers
Aggreko (AGK) 1,870.00p -3.36%
ITV (ITV) 64.80p -1.97%
Hargreaves Lansdown (HL.) 614.00p -1.29%
Imperial Tobacco Group (IMT) 2,063.00p -1.06%
Investec (INVP) 490.40p -1.05%
Reckitt Benckiser Group (RB.) 3,434.00p -1.01%
ICAP (IAP) 458.80p -0.99%
International Power (IPR) 311.90p -0.98%
TUI Travel (TT.) 211.00p -0.89%
Tullow Oil (TLW) 1,281.00p -0.77%
FTSE 250 - Risers
Kenmare Resources (KMR) 47.49p +3.92%
Ashtead Group (AHT) 182.50p +2.18%
Halfords Group (HFD) 392.70p +2.13%
Senior (SNR) 159.90p +2.11%
Synergy Health (SYR) 915.00p +1.89%
Sports Direct International (SPD) 220.10p +1.71%
Invensys (ISYS) 302.20p +1.58%
Carpetright (CPR) 730.00p +1.46%
Victrex (VCT) 1,490.00p +1.36%
RPC Group (RPC) 341.90p +1.21%
FTSE 250 - Fallers
Supergroup (SGP) 877.50p -4.83%
Exillon Energy (EXI) 416.00p -4.19%
Regus (RGU) 105.00p -2.51%
Dignity (DTY) 745.00p -2.49%
Cookson Group (CKSN) 642.00p -2.43%
Ocado Group (OCDO) 219.60p -2.40%
F&C Asset Management (FCAM) 76.20p -2.18%
Shanks Group (SKS) 128.10p -2.14%
Premier Foods (PFD) 29.68p -2.14%
Rathbone Brothers (RAT) 1,134.00p -2.07%
Imperial Tobacco is lower though after it slashed profit expectations for its Spanish business as competition in the country forced it to cut prices for cigarettes. Imperial, whose brands include Lambert & Butler and Gauloises Blondes cigarettes, said operating profits in Spain could fall short of previous expectations by up to £110m.
Mining giant Kazakhmys is in demand after it secured a $1.5bn loan facility to help the development of a major copper project at Aktogay in Kazakhstan. A memorandum of understanding was signed on Monday with the China Development Bank Corporation (CDB) for the loan. Kazakh peer ENRC is also higher.
In the banking sector, Lloyds is among the top risers.
Aim-listed wine retailer Majestic Wine reported a 26.6% increase in full year profit, lifted its final dividend and said it was encouraged by current trading despite challenging market conditions.
Energy services firm Wood Group will return 140p per share to its shareholders, in the second stage of its £1.08bn return of cash programme. Following the £412m returned through a tender offer two weeks ago, the company will return the residual £665m.
Safety systems specialist Latchways is in demand after it reported record annual profit and revenue as it introduced new products and ramped up sales to overseas markets. The group, whose safety systems are used to provide worker safety in wind power turbines, commercial rooftops, electricity transmission towers, aircraft wings and industrial plants, said pre-tax profit rose to a record £9.3m for the year ended 31 March 2011 from £7.6m the year before.
Fire engine supplier Assetco jumped after it confirmed it is in discussions with a "number of parties which may or may not lead to an offer being made for the business," it confirmed in a statement Monday morning.
Sterling Energy lost a quarter of its value, sinking to a 52-week low, after a disappointing open hole flow test at its Sangaw North-1 well in Kurdistan.
North Sea-focused oil group Faroe Petroleum fell after it said its Lagavulin exploration well near Shetland has not been successful and that it has incurred in cost overruns on that project.
FTSE 100 - Risers
Eurasian Natural Resources Corp. (ENRC) 785.50p +5.86%
Kazakhmys (KAZ) 1,254.00p +3.72%
Essar Energy (ESSR) 443.00p +2.36%
Lloyds Banking Group (LLOY) 47.92p +1.97%
ARM Holdings (ARM) 577.00p +1.67%
Sainsbury (J) (SBRY) 328.60p +1.61%
Vodafone Group (VOD) 161.15p +1.42%
International Consolidated Airlines Group SA (IAG) 225.20p +1.30%
Barclays (BARC) 259.75p +1.27%
WPP (WPP) 736.50p +1.24%
FTSE 100 - Fallers
Aggreko (AGK) 1,870.00p -3.36%
ITV (ITV) 64.80p -1.97%
Hargreaves Lansdown (HL.) 614.00p -1.29%
Imperial Tobacco Group (IMT) 2,063.00p -1.06%
Investec (INVP) 490.40p -1.05%
Reckitt Benckiser Group (RB.) 3,434.00p -1.01%
ICAP (IAP) 458.80p -0.99%
International Power (IPR) 311.90p -0.98%
TUI Travel (TT.) 211.00p -0.89%
Tullow Oil (TLW) 1,281.00p -0.77%
FTSE 250 - Risers
Kenmare Resources (KMR) 47.49p +3.92%
Ashtead Group (AHT) 182.50p +2.18%
Halfords Group (HFD) 392.70p +2.13%
Senior (SNR) 159.90p +2.11%
Synergy Health (SYR) 915.00p +1.89%
Sports Direct International (SPD) 220.10p +1.71%
Invensys (ISYS) 302.20p +1.58%
Carpetright (CPR) 730.00p +1.46%
Victrex (VCT) 1,490.00p +1.36%
RPC Group (RPC) 341.90p +1.21%
FTSE 250 - Fallers
Supergroup (SGP) 877.50p -4.83%
Exillon Energy (EXI) 416.00p -4.19%
Regus (RGU) 105.00p -2.51%
Dignity (DTY) 745.00p -2.49%
Cookson Group (CKSN) 642.00p -2.43%
Ocado Group (OCDO) 219.60p -2.40%
F&C Asset Management (FCAM) 76.20p -2.18%
Shanks Group (SKS) 128.10p -2.14%
Premier Foods (PFD) 29.68p -2.14%
Rathbone Brothers (RAT) 1,134.00p -2.07%
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