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London close: Sluggish Footsie closes lower

Mon, 19th Jul 2010 16:52

Footsie finished in the red Monday as M&A excitement failed to give the leading share index any real sense of direction.International Power was the best FTSE 100 performer after French energy giant GDF Suez revived talks about a partnership to create a new London-listed electricity group. The deal would see a combination of their businesses outside Europe and certain assets in the UK and Turkey. In the FTSE 250, meanwhile, Tomkins, finished nearly 30% higher after the engineer received a bid approach from a Canadian consortium worth 325p a share in cash or £2.9bn in total. Tomkins also warned that sales and margin performance in the second half is unlikely to be as strong as it was in the first half of 2010.BP fell again. The oil giant has been told it can keep the cap on its broken well in the Gulf of Mexico for another 24 hours despite fears it may be causing a new leak elsewhere on the ocean floor.BT is raising the cost of phone calls by 10% and the monthly line rental charges by 50p from October. The telecoms giant will this week write to customers telling them about plans to up the cost of connecting a call from 9.9p to 10.9p and lift the daytime rate to 6.4p from 5.9p. Aquarius Platinum was the worst FTSE 250 performer after a new tough South African directive on safety for mining companies using bord and pillar mining methods. Aquarius says it intends to appeal the directive today. Five people died at Aquarius' Marikana platinum mine in South Africa earlier this month when a shaft collapsed. Prices rose, but problems at both its Ellendale and Letseng mines hit diamond miner Gem's first half output, with currency movements also causing some headaches. "In the first half of the year we have had a number of operational challenges at both Let?eng and Ellendale," chief executive Clifford Elphick said. Department store Debenhams has completed the refinancing of its borrowings and signed a new £650m senior credit facility. Industrial conveyor belt maker Fenner finished higher after saying it is comfortably meeting expectations with revenue and underlying operating profit in the third quarter well ahead of the comparable period last year.Recruiter SThree fell sharply after it said half year pre-tax profit fell sharply but remains cautiously optimistic, in an improving but not yet fully recovered market. For the six months ended 30 May 2010 pre-tax profit before exceptional items fell to £7.3m from £11.2m the year before. Revenue declined 21% to £221.7m while gross profit was down 20.3% at £74.3m during the period.Kazakhstan focused Max Petroleum has had its subsoil use licence for the Astrakhanskiy Block in Western Kazakhstan terminated as it has failed to comply with work obligations stipulated under the licence.FTSE 100 - RisersInternational Power (IPR) 350.00p +10.48%Invensys (ISYS) 273.00p +2.90%Standard Chartered (STAN) 1,740.00p +1.99%Rio Tinto (RIO) 3,048.50p +1.45%Cobham (COB) 238.00p +1.41%Vedanta Resources (VED) 2,228.00p +1.13%Antofagasta (ANTO) 913.00p +1.11%Xstrata (XTA) 918.20p +1.06%Intertek Group (ITRK) 1,653.00p +1.04%Man Group (EMG) 211.40p +0.96%FTSE 100 - FallersBP (BP.) 387.85p -4.74%Associated British Foods (ABF) 1,031.00p -2.37%Prudential (PRU) 513.00p -1.72%Scottish & Southern Energy (SSE) 1,173.00p -1.59%Autonomy Corporation (AU.) 1,866.00p -1.58%Next (NXT) 2,039.00p -1.50%Johnson Matthey (JMAT) 1,590.00p -1.49%Carnival (CCL) 2,146.00p -1.42%Marks & Spencer Group (MKS) 342.90p -1.32%Whitbread (WTB) 1,416.00p -1.32%FTSE 250 - RisersTomkins (TOMK) 294.00p +27.66%Fenner (FENR) 225.30p +4.40%Gartmore Group (GRT) 107.00p +3.78%Computacenter (CCC) 295.80p +3.72%Promethean World (PRW) 168.30p +2.94%Restaurant Group (RTN) 221.30p +2.17%Electra Private Equity (ELTA) 1,313.00p +2.10%Bodycote (BOY) 229.20p +1.87%London Stock Exchange Group (LSE) 634.50p +1.85%UK Commercial Property Trust (UKCM) 80.45p +1.64%FTSE 250 - FallersAquarius Platinum Ltd. (AQP) 227.10p -11.29%SThree (STHR) 272.20p -7.10%Redrow (RDW) 98.25p -5.71%Barratt Developments (BDEV) 93.85p -5.49%Persimmon (PSN) 360.30p -4.58%Rightmove (RMV) 601.50p -4.52%Taylor Wimpey (TW.) 25.00p -4.18%International Personal Finance (IPF) 189.00p -4.06%Pace (PIC) 167.10p -4.02%Bellway (BWY) 568.00p -3.81%
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