ENRC.L Share News (ENRC)

The FTSE 100 rebounded strongly with a 1.2 per cent jump on Tuesday after coming close to its 2013 low the day before, as concerns over a liquidity crunch in China and reduced stimulus in the US eased, for the time being at least.London's benchmark index finished the session up 73 points at 6,102, after having dropped to 6,029 on Monday, its worst level since early January.However, speaking this afternoon, Market Strategist Ishaq Siddiqi from ETX Capital said: "Putting the fundamentals aside and speaking technically, today's price-action in Europe is merely a dead-cat bounce and this rally is likely to lose steam in the coming sessions."Policymakers attempt to ease fearsStocks were given a boost this morning by comments from certain members of the Federal Reserve who said that markets have overreacted to Chairman Ben Bernanke's suggestion of a 'taper' last week. Minneapolis Fed President Narayana Kocherlakota yesterday released a statement and held a press conference to say that there was a "misperception" that the Fed has taken a more hawkish turn. He assured that the central bank was committed to an easy-money policy until the jobless rate falls further.Similarly, outgoing Bank of England Governor Mervyn King said today before the Treasury Select Committee that financial markets have "jumped the gun" in betting that interest rates will return to 'normal' levels in the near future. He said: "The Federal Reserve has merely said that the easing in which it is still engaging may taper at some point depending on economic conditions [...] Bernanke made it 100% obvious it will depend on the incoming data ... No one would sit down today and say this is the path of interest rates we intend to follow. That would be crazy."Meanwhile, as worries mount over the credit squeeze in China, the country's central bank has downplayed fears saying that money-market fluctuations are temporary and that there is ample liquidity in the system, lifting market sentiment further today.FTSE 100: Carnival jump on boardroom change, Q2 resultsCruise operator Carnival surged late on after announcing that it is splitting Micky Arison's roles as Chairman and Chief Executive Officer (CEO), with long-running board member Arnold Donald stepping up to the CEO position. The news came alongside the firm's second-quarter results with earnings per share excluding unrealised losses on fuel derivatives coming in at 9.0 US cents, ahead of the 7.0 cents expected by Bloomberg consensus.Oilfield service company Petrofac was under the weather after forecasting "modest growth" this year with results expected to be "significantly weighted towards the second half". Consumer packaging giant Rexam was also heavy faller after admitting that full-year trading will be below expectations after a slowdown in beverage can volumes growth in the first half. The company also announced its intention to sell off its Healthcare business.Chip designer ARM Holdings was a high riser this morning after Investec upgraded the group from 'hold' to 'buy' after a 32% fall in the shares since an analyst day in May. "We see ARM as the most attractive long term investment in the sector with underpinned earnings growth."Financial services group Prudential was making gains this morning after Berenberg said that the stock's recent pull-back on emerging market concerns "represents a rare buying opportunity".Similarly, Fresnillo was higher after Citigroup raised the precious metals miner from 'sell' to 'neutral' after a recent sharp fall in the share price.Telecoms giant Vodafone was making gains a day after launching a £6.6bn takeover offer for Kabel Deutscheland. The stock was given a lift this morning by Nomura which upgraded its rating from 'neutral' to 'buy'.FTSE 250: House builders gain after dataHouse builders and construction stocks were performing well on Tuesday after the British Bankers' Association revealed that mortgage approvals for house purchase hit a 16-month high in May of 36,102. Ashtead, Balfour Beatty and Barratt Developments were among the best performers this afternoon.Industrial coding, printing and marking technology group Domino Printing was lower after swinging into a pre-tax loss for the half year as difficult trading conditions across most of Europe persisted.Kazakhmys was rebounding after some heavy falls the day before. The company yesterday recommended shareholders to vote in favour of an offer for its 26% stake in ENRC, saying that it is the best option for shareholders despite the price being lower than hoped.Hotel group Millenium & Copthorne was in the red after Morgan Stanley cut its recommendation for the shares from 'overweight' to 'equal weight'. The broker said that it sees downside risks to forecasts, "and with Asian hotels and property under pressure, we think there could be a better entry point".FTSE 100 - RisersCarnival (CCL) 2,291.00p +5.33%Persimmon (PSN) 1,136.00p +4.41%Hargreaves Lansdown (HL.) 891.50p +4.21%Croda International (CRDA) 2,355.00p +4.20%Weir Group (WEIR) 2,118.00p +4.03%Experian (EXPN) 1,130.00p +3.96%GKN (GKN) 292.40p +3.65%ARM Holdings (ARM) 786.00p +3.63%Aberdeen Asset Management (ADN) 361.10p +3.50%Melrose Industries (MRO) 244.70p +3.25%FTSE 100 - FallersRexam (REX) 453.70p -2.45%Petrofac Ltd. (PFC) 1,219.00p -1.22%Imperial Tobacco Group (IMT) 2,265.00p -0.57%Centrica (CNA) 351.40p -0.48%SSE (SSE) 1,467.00p -0.20%British Land Co (BLND) 554.00p -0.18%Hammerson (HMSO) 470.50p -0.13%Amec (AMEC) 989.50p -0.10%Royal Dutch Shell 'A' (RDSA) 2,047.50p -0.05%Severn Trent (SVT) 1,628.00p 0.00%FTSE 250 - RisersBalfour Beatty (BBY) 234.20p +6.21%International Personal Finance (IPF) 491.10p +6.07%Elementis (ELM) 222.80p +5.99%Inchcape (INCH) 484.50p +5.65%Pace (PIC) 243.40p +4.91%Close Brothers Group (CBG) 952.50p +4.90%Unite Group (UTG) 354.40p +4.85%Hays (HAS) 86.75p +4.64%Ashtead Group (AHT) 625.50p +4.60%Kazakhmys (KAZ) 244.40p +4.58%FTSE 250 - FallersRenishaw (RSW) 1,535.00p -2.85%Dechra Pharmaceuticals (DPH) 690.00p -2.40%Domino Printing Sciences (DNO) 584.00p -2.34%Countrywide (CWD) 480.00p -2.24%African Barrick Gold (ABG) 109.80p -2.23%Synergy Health (SYR) 1,124.00p -2.09%Workspace Group (WKP) 391.40p -2.05%FirstGroup (FGP) 96.10p -1.94%Spirent Communications (SPT) 137.50p -1.79%Electra Private Equity (ELTA) 2,220.00p -1.77%