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London open: FTSE 100 falls into red, markets await Bernanke

Fri, 26th Aug 2011 08:31

The FTSE 100 fell into the red in early trading, with heavyweights AMEC, Resolution and ARM Holdings dragging the blue chip index lower, after a poor performance on Wall Street last night and a mixed session in Asia. Meanwhile, financials were on the rise, with Hargreaves Lansdown, Lloyds, RBS and Standard Life among the better performers. Car insurer Admiral is a high risers, recovering after its recent decline. 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.BCFTSE 100 - Risers3i Group (III) 213.10p +2.30%Admiral Group (ADM) 1,308.00p +2.27%Burberry Group (BRBY) 1,238.00p +1.64%Hargreaves Lansdown (HL.) 408.50p +1.01%Kazakhmys (KAZ) 1,005.00p +0.80%Lloyds Banking Group (LLOY) 31.23p +0.77%Diageo (DGE) 1,176.00p +0.51%Randgold Resources Ltd. (RRS) 6,300.00p +0.48%Scottish & Southern Energy (SSE) 1,241.00p +0.40%Barclays (BARC) 158.50p +0.38%FTSE 100 - FallersAmec (AMEC) 842.00p -3.88%Resolution Ltd. (RSL) 247.70p -3.43%ARM Holdings (ARM) 514.50p -2.65%Marks & Spencer Group (MKS) 310.70p -1.71%Rexam (REX) 338.20p -1.69%Tullow Oil (TLW) 983.50p -1.55%Aggreko (AGK) 1,738.00p -1.53%Carnival (CCL) 1,799.00p -1.48%Cairn Energy (CNE) 290.70p -1.19%BP (BP.) 381.55p -1.18%FTSE 250 - RisersYule Catto & Co (YULC) 177.50p +4.41%Computacenter (CCC) 366.80p +3.38%Anglo Pacific Group (APF) 297.80p +2.69%Kofax (KFX) 327.90p +2.63%Electra Private Equity (ELTA) 1,459.00p +2.10%Dunelm Group (DNLM) 444.00p +1.83%United Business Media Ltd. (UBM) 443.70p +1.79%BH Macro Ltd. GBP Shares (BHMG) 1,989.00p +1.53%Hiscox Ltd. (HSX) 352.80p +1.50%Pace (PIC) 101.00p +1.41%FTSE 250 - FallersSalamander Energy (SMDR) 218.70p -4.08%Stobart Group Ltd. (STOB) 127.00p -4.08%New World Resources A Shares (NWR) 550.50p -3.93%Aegis Group (AGS) 129.60p -3.14%AZ Electronic Materials SA (WI) (AZEM) 220.10p -3.00%Elementis (ELM) 138.80p -2.87%CSR (CSR) 219.50p -2.36%EnQuest (ENQ) 105.00p -2.33%Kenmare Resources (KMR) 42.50p -2.30%Phoenix Group Holdings (DI) (PHNX) 529.00p -2.22%
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