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London close: Stocks dive in late trading

Wed, 28th Sep 2011 16:40

Stocks gave up an earlier rally to finish firmly in the red amid continued nervousness ahead of an audit of Greece's finances.There is speculation that some countries in the Eurozone are demanding that private investors take a bigger hit on their holdings of Greek debt. European Commission President Jose Manuel Barroso has called on the European Central Bank to do everything in its power to maintain stability in the Eurozone. Former minister and European Trade Commissoner Peter Mandelson has also thrown in his tuppence worth, telling European leaders to speed up reforms to solve the issue.In stocks news, hedge fund manager Man Group fell sharply. It said statutory profit before tax on continuing operations for the six months ending 30 September 2011 totalled $145m, down from $180m at the interim stage last year. Total funds under management at the end of September stood at $65.0bn, down from $71.0bn at the end of June and $69.1bn at the end of March 2011. Its flagship fund, AHL, generated $1.5bn of positive investment movement in the firm's second quarter, taking the half year total to +$0.9bn.Oil firm Cairn Energy also fell back after its Greenland venture continues to disappoint. It has plugged and abandoned the Delta-1 exploration well in the Napariaq block of the West Disko Area. Meanwhile, drilling work has commenced on the AT2-1 well in the Attammik block, in the South Ungava area.Sector peer Tullow is having better luck off the coast of Ghana, where the Enyenra-3A appraisal well, in the Deepwater Tano licence, has successfully encountered oil in high quality sandstone reservoirs. Pressure data indicates that the Enyenra-3A well has confirmed an up-dip extension of the Enyenra oil field.Airport scanner maker Smiths Group went well despite what some analysts have described as cautious guidance from the company.BG Group gushed ahead after an upgrade to "conviction buy" at Goldman Sachs and a report in the Daily Mail saying that China's resources group CNOOC may be interested in the oil and gas group.Investors have no appetite for Domino's Pizza, which shrugged off weak economic conditions to post a 9.8% rise in sales in the 13 weeks to 25 September. The pizza deliverer's sales during the period climbed to £127m from £115.7m, bringing sales for the year to date so far up to £385.4m, a 9.2% rise from £352.8m the previous year.Turning to smaller companies, Ambrian Capital, the natural resources investment firm, has seen its share price plummet 20% following the announcement of a balance sheet loss of £1.46m for the six months to the end of June. The figure includes a complete write down of the group's holding in its investment banking operation known as Ambrian Partners, which equates to a £2.15m impairment. The reasoning for this is what the firm described as "financial turmoil...in global equity markets."Shares in Toye, a manufacturer of military and masonic regalia, plunged today after it said increasing commodity prices had hit profits hard and customers were cutting back. Its shares fell 26% after the firm reported profits of just £9,120 in the first half of the year, compared with £26,205 in 2010. The profit came on a turnover of £4,495,726, an increase of £360,000 over the previous year. Indian Restaurants Group, which operates a chain of restaurants in the London area, fell sharply as it resumed trading after a suspension and announced that it plans to sell its restaurants to explore other investment opportunities. In the 18 months to 31 March, losses totalled £1.62m against £1.05m for the previous 12 months. Revenues totalled £3.63m, up from £2.47m over the previous year. The U.S focused exploration, appraisal, development and production company, Caza Oil, saw its share price drop more than 25% after it gave an update on its operations. The firm admitted that two of its O.B. Ranch wells have underperformed, after they produced combined gross rates of 34 barrels per day of condensate and 661 cubic feet of natural gas per day. FTSE 100 - RisersBG Group (BG.) 1,262.50p +3.40%Smiths Group (SMIN) 969.50p +2.21%Capital Shopping Centres Group (CSCG) 326.90p +1.52%Experian (EXPN) 740.50p +0.75%Capita Group (CPI) 716.50p +0.56%Next (NXT) 2,605.00p +0.50%Scottish & Southern Energy (SSE) 1,305.00p +0.38%Vodafone Group (VOD) 166.70p +0.30%Severn Trent (SVT) 1,530.00p +0.26%Tate & Lyle (TATE) 612.50p +0.25%FTSE 100 - FallersMan Group (EMG) 180.00p -24.87%Cairn Energy (CNE) 276.50p -6.46%Antofagasta (ANTO) 990.00p -5.89%Petrofac Ltd. (PFC) 1,233.00p -5.73%Fresnillo (FRES) 1,585.00p -5.71%Glencore International (GLEN) 423.00p -4.90%Admiral Group (ADM) 1,319.00p -4.56%Weir Group (WEIR) 1,616.00p -4.55%Rio Tinto (RIO) 3,057.00p -4.36%Amec (AMEC) 847.50p -4.24%FTSE 250 - RisersAfren (AFR) 91.20p +5.56%Melrose (MRO) 303.30p +4.59%F&C Commercial Property Trust Ltd. (FCPT) 99.25p +3.82%Dairy Crest Group (DCG) 351.20p +3.69%Genus (GNS) 1,111.00p +2.87%UK Commercial Property Trust (UKCM) 76.00p +2.84%Savills (SVS) 296.00p +2.56%RPC Group (RPC) 325.90p +2.39%Mitie Group (MTO) 244.00p +2.22%Daejan Holdings (DJAN) 2,445.00p +1.96%FTSE 250 - FallersDomino's Pizza UK & IRL (DOM) 458.10p -9.91%Petropavlovsk (POG) 638.00p -7.67%Bwin.party Digital Entertainment (BPTY) 119.20p -6.73%Ferrexpo (FXPO) 290.00p -5.60%EnQuest (ENQ) 89.20p -5.01%Aquarius Platinum Ltd. (AQP) 180.20p -4.71%Soco International (SIA) 331.60p -4.11%Drax Group (DRX) 483.00p -4.07%Croda International (CRDA) 1,684.00p -3.83%Kenmare Resources (KMR) 38.00p -3.63%
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9 Nov 2016 13:57

Director dealings: Ambrian CEO ups stake amid metals withdrawal

(ShareCast News) - Ambrian chief executive Jean-Pierre Conrad made only a modest purchase of shares in the lossmaking industrial assets investor as it looks to exit its metals trading activities. Conrad, a Swiss investment banker who became chief financial officer of Xstrata before it merged with Gl

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9 Nov 2016 13:33

DIRECTOR DEALINGS: Ambrian Chief Executive Buys 50,000 Shares

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14 Oct 2016 14:00

Ambrian to shut down metals trading business

(ShareCast News) - AIM-listed commodities trading and logistics company Ambrian is to close its metals trading business due to the "prevailing uncertain business environment" in the sector. Metals trading would be wound down and closed over the next few months as the company focuses on developing it

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30 Sep 2016 11:26

Ambrian shares drop on interim numbers

(ShareCast News) - Ambrian announced its unaudited consolidated results for the six months to 30 June on Friday, with a loss before tax and impairment charge of $3.58m, narrowing year-on-year from $8.78m. The board of the AIM-traded firm said that reflected a "continuous challenging trading environm

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25 Aug 2016 09:10

Ambrian Names Martin Abbott As Interim Non-Executive Chairman

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20 Jul 2016 08:53

Ambrian Chairman Robert Adair To Step Down; Successor Identified

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18 Jul 2016 15:07

UK Shareholder Meetings Calendar - Next 7 Days

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8 Jun 2016 09:41

Ambrian Looks For Resilience In Wake Of Loss-Making 2015

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1 Dec 2015 09:45

Ambrian Says Beira Plan Commences Commercial Cement Production

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16 Oct 2015 13:58

Ambrian Completes Fundraising After Shareholder Vote (ALLISS)

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15 Oct 2015 13:48

Ambrian Says Commissioning Of Beira Plant In Mozambique Complete

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30 Sep 2015 13:48

Ambrian To Raise GBP2.6 Million, Swings To First Half Loss (ALLISS)

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30 Jul 2015 15:18

Ambrian Completes Cement Plant But Cost Will Be Higher Than Expected

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7 Jul 2015 07:26

LONDON BRIEFING: Shares Flat Ahead Of Greek Meetings; Weir Buys In US

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7 Jul 2015 05:20

AGM, EGM Calendar - Week Ahead

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