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London midday: Footsie still lower

Fri, 27th Nov 2009 12:41

Footsie is still sitting slightly lower amid continued worries over the Dubai debt situation.But Royal Bank of Scotland is now going well having fallen back in early dealings on fears over the financial sector's exposure to a debt default by Dubai World. RBS calmed nerves by saying it has signed up for the government's asset protection scheme (APS). The bank said in a statement that the agreement was signed on Thursday, 26 November, on the terms summarised in the announcement published on 3 November. Peer Barclays is another top riser.London Stock Exchange is higher after a bad day yesterday when the exchange had to shut down due to a technical glitch.Miners are bearing the brunt of the selling in London, with the dollar rallying and investors having big profits to lock in. Kazakhmys, Fresnillo and ENRC are the worst hit.Gulf-related worries have also knocked Petrofac, while fund manager Schroders is also under pressure. Elsewhere, mobile phone retailer and broadband provider Carphone Warehouse has provided some cheer. It upped its full year guidance after posting better than expected half year figures. The group increased its headline EPS guidance for March 2010 to between 14.0p and 15.0p.Holidaybreak has suffered a big drop in full-year profit, but the firm's education business had a better time of it as parents refused to let their kids go without. Headline profit before tax for the year to 30 September fell by 12.9% to £28.4m, while statutory profit slumped to £5.4m from £23.4m in 2008. Revenue rose to £473.4m from £455.1m.Things are not looking a lot better in the business travel world, where the recession hit travel agent Hogg Robinson in the first half, with profits almost halving. Domino's Pizza is higher after it scrapped its tender offer, announced last week, because the shares have fallen about 7% below the tender price. A straightforward share buy-back might now be on the cards.Respiratory inhaler firm Vectura reported a 67% reduction in half year pre-tax losses and said it plans to establish an infrastructure in the US marketAccident Exchange expects a first half loss and has warned it needs to refinance as insurers continue to drag their heels over settling claims.FTSE 100 - RisersThomas Cook Group (TCG) 214.40p +3.83%London Stock Exchange Group (LSE) 781.00p +3.51%SEGRO (SGRO) 336.80p +2.97%Cairn Energy (CNE) 3,019.00p +2.93%Prudential (PRU) 638.00p +2.82%Xstrata (XTA) 1,050.00p +2.74%Amec (AMEC) 789.50p +2.67%Royal Bank of Scotland Group (RBS) 33.87p +2.64%Legal & General Group (LGEN) 80.45p +2.48%Barclays (BARC) 298.30p +2.47%FTSE 100 - FallersLloyds Banking Group (LLOY) 57.34p -3.06%Inmarsat (ISAT) 635.50p -2.46%British Airways (BAY) 188.90p -2.23%Schroders (SDR) 1,144.00p -1.89%Anglo American (AAL) 2,518.00p -1.76%Home Retail Group (HOME) 295.40p -1.73%Next (NXT) 1,971.00p -1.65%Fresnillo (FRES) 839.50p -1.52%Reed Elsevier (REL) 457.80p -1.51%Tesco (TSCO) 423.05p -1.46%FTSE 250 - RisersPunch Taverns (PUB) 75.90p +9.68%Redrow (RDW) 135.50p +6.78%Lamprell (LAM) 172.70p +5.95%Bellway (BWY) 744.00p +5.53%Enterprise Inns (ETI) 103.20p +5.41%Big Yellow Group (BYG) 379.10p +5.31%Melrose (MRO) 179.00p +5.29%Taylor Wimpey (TW.) 36.76p +5.12%Interserve (IRV) 210.00p +5.11%JPMorgan Japanese Inv Trust (JFJ) 138.90p +4.67%FTSE 250 - FallersKesa Electricals (KESA) 151.70p -3.31%DSG International (DSGI) 35.96p -2.81%Euromoney Institutional Investor (ERM) 390.00p -2.74%Morgan Crucible (MGCR) 150.30p -2.72%JPMorgan Asian Inv Trust (JAI) 176.00p -2.49%JKX Oil & Gas (JKX) 282.00p -2.15%Daily Mail and General Trust (DMGT) 417.10p -1.72%Investec (INVP) 422.10p -1.72%Cookson Group (CKSN) 383.30p -1.67%Edinburgh Dragon Trust (EFM) 175.20p -1.57%
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