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London midday: Stocks slip but share-buying boosts Admiral

Fri, 26th Aug 2011 12:18

Stocks have drifted into the red amid apprehension ahead of this afternoon's annual meeting of the US Federal Reserve.The results stream has slowed sharply, giving investors an opportunity to digest figures released earlier this week.AMEC, which yesterday reported a strong performance in its mining and power and process divisions and increased activity in the UK North Sea but a reduction in activity levels within the oil sands and federal businesses in the first half of 2011, is lower again today though.Some director buying helps boost Admiral though. Chairman Alastair Lyons has bought 20,000 shares at 1,272p while non-executive director John Sussens's wife Cheryl bought 22,000 at 1,320p.Today is the big day of the week, with Federal reserve chairman Ben Bernanke set to make an eagerly awaited speech at the central bankers' conflab in Jackson Hole, Wyoming. Investors seem disinclined to commit themselves ahead of Bernanke's speech. Mining giant Rio Tinto fell lower despite the independent directors of Australian Stock Exchange-listed miner Coal & Allied having given the green light to plans by Rio and Japanese trading house Mitsubishi Corporation to take full ownership of the company.Transport logistics firm Stobart Group was a heavy faller on the FTSE 250 after it said its transport and distribution division is back on the right track in August after a difficult period in June and July. Eastern Europe-focused oil producer Exillon Energy was out of favour despite moving into the black in the first half of 2011, as production hit record levels for the company.Berendsen, the FTSE 250 workwear textile rental and laundering services firm, also disappointed even though it said it was able to up its adjusted profits by 18% in the six months ended 30 June, as it made good progress in the implementation of its strategic review.Specialty chemicals producer Yule Catto rose higher after it posted sharp rise in half year pre-tax profit helped by strong demand from Asia and its PolymerLatex acquisition.Sales at low emission power products developer Ceramic Fuel Cells surged by 81% during the 12 months ended 30 June, but losses widened as operating expenses were increased. Shares fell into the red.FTSE 100 - RisersAdmiral Group (ADM) 1,319.00p +3.13%Diageo (DGE) 1,194.00p +2.05%Fresnillo (FRES) 1,852.00p +1.93%Randgold Resources Ltd. (RRS) 6,390.00p +1.91%Petrofac Ltd. (PFC) 1,219.00p +1.50%ITV (ITV) 56.65p +1.43%Anglo American (AAL) 2,328.50p +1.17%Burberry Group (BRBY) 1,230.00p +0.99%3i Group (III) 210.10p +0.86%Capital Shopping Centres Group (CSCG) 317.00p +0.76%FTSE 100 - FallersAmec (AMEC) 838.50p -4.28%Lloyds Banking Group (LLOY) 29.71p -4.11%Glencore International (GLEN) 375.70p -3.29%Marks & Spencer Group (MKS) 305.90p -3.23%Royal Bank of Scotland Group (RBS) 22.54p -2.34%Resolution Ltd. (RSL) 250.60p -2.30%Vodafone Group (VOD) 159.15p -2.27%Shire Plc (SHP) 1,912.00p -2.20%Barclays (BARC) 154.60p -2.09%Essar Energy (ESSR) 243.30p -2.05%FTSE 250 - RisersPerform Group (PER) 169.40p +5.02%Hansteen Holdings (HSTN) 78.15p +4.20%Keller Group (KLR) 355.70p +2.80%Hochschild Mining (HOC) 470.20p +2.26%Yule Catto & Co (YULC) 173.80p +2.24%Britvic (BVIC) 295.80p +2.04%Stagecoach Group (SGC) 254.60p +1.80%Euromoney Institutional Investor (ERM) 580.00p +1.75%Hunting (HTG) 650.00p +1.64%JKX Oil & Gas (JKX) 190.30p +1.55%FTSE 250 - FallersBerendsen (BRSN) 474.80p -6.54%Bwin.party Digital Entertainment (BPTY) 102.10p -3.31%Phoenix Group Holdings (DI) (PHNX) 524.50p -3.05%Regus (RGU) 65.00p -2.99%Exillon Energy (EXI) 276.60p -2.95%Lancashire Holdings (LRE) 630.00p -2.93%Premier Farnell (PFL) 169.70p -2.92%Hays (HAS) 72.20p -2.76%Stobart Group Ltd. (STOB) 129.00p -2.57%Devro (DVO) 239.00p -2.45%
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