ENRC.L Share News (ENRC)

UK markets were able to hang on to gains on Thursday morning on a busy day for economic data, as stocks continue to rebound after some heavy losses over the last month.After hitting a fresh five-month low of 6,029 on Monday, the FTSE 100 has risen strongly over the past two sessions with bargain hunters stepping in, given that many have seen the index's recent sell-off - after coming within touching distance of its record closing high of 6,930 last month - as overdone.Benchmarks in the States finished higher last night as markets reacted positively towards a downwards revision to US economic growth to 1.8% in the first quarter, down from the initial estimate of 2.4%. This sparked hopes that the Federal Reserve could potentially delay its decision to taper stimulus until growth shows more signs of improvement.Supporting stocks this morning was the news that the initial estimate for UK economic growth in the first three months of 2013 was maintained at 0.3%. Meanwhile, revisions to historic estimates mean that the economy did not actually suffer a double-dip recession in the first quarter of 2012. "That said, this is merely a technicality and revisions have also shown that since 2008, growth has been significantly worse than previously thought which is a much more concerning statistic," said Market Analyst Craig Erlam from Alpari.It's a relatively busy day for economic data today, with markets this morning digesting a higher-than-expected drop in unemployment and a falling jobless rate in Germany, as well as mixed Eurozone consumer and business confidence figures.Meanwhile, jobless claims, personal income/spending and pending home sales are all due out in the States later on.FTSE 100: Miners rebound, but ENRC fallsMining stocks were performing well this morning, including Glencore Xstrata, Randgold, Antofagasta and Vedanta, with the sector rebounding after heavy falls the day before as metals prices slumped. Glencore Xstrata announced this morning plans to axe 450 jobs as part of plans to cut back coal production at its Newlands and Oaky Creek mines in Australia.However, sector peer ENRC was in the red after UBS downgraded the stock from 'buy' to 'neutral' and cut its target price to reflect this week's lower offer from its founding shareholders and Kazakhstan government.Energy services group John Wood Group gained after saying it is on course to deliver good growth in the first half and remains confident of achieving full-year performance in line with expectations.FTSE 250: DS Smith jumps early on after resultsPaperand plastic packaging company DS Smith jumped this morning after seeing pre-tax profits soar 51% to £166.2m following a "transformational year". Revenue for the year to end of April jumped 86% to £3.6bn, boosted by the acquisition and integration of SCA Packaging. However, digital sports media firm Perform dropped this morning after a pre-close trading update said that while it is on track to deliver strong revenue growth this year, a change in revenue mix, together with additional rights and other investment, will impact the rate of earnings growth.FTSE 100 - RisersWPP (WPP) 1,110.00p +2.87%Weir Group (WEIR) 2,175.00p +2.40%Smiths Group (SMIN) 1,297.00p +2.13%Tate & Lyle (TATE) 817.50p +2.00%Bunzl (BNZL) 1,266.00p +1.61%Wood Group (John) (WG.) 793.50p +1.60%Next (NXT) 4,565.00p +1.56%Anglo American (AAL) 1,275.00p +1.51%Randgold Resources Ltd. (RRS) 4,032.00p +1.51%ARM Holdings (ARM) 807.00p +1.51%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 274.80p -1.96%Pearson (PSON) 1,134.00p -1.90%Standard Life (SL.) 347.80p -1.81%Barclays (BARC) 284.25p -1.59%Carnival (CCL) 2,283.00p -1.55%Melrose Industries (MRO) 238.60p -1.41%Serco Group (SRP) 589.00p -1.34%International Consolidated Airlines Group SA (CDI) (IAG) 261.10p -1.17%Croda International (CRDA) 2,401.00p -1.15%Legal & General Group (LGEN) 167.30p -1.06%FTSE 250 - Risers888 Holdings (888) 152.20p +7.03%Ocado Group (OCDO) 281.90p +4.64%Smith (DS) (SMDS) 249.90p +4.21%Debenhams (DEB) 94.45p +4.02%Carillion (CLLN) 272.40p +4.01%Kazakhmys (KAZ) 271.80p +3.58%CSR (CSR) 534.50p +3.38%Centamin (DI) (CEY) 31.40p +3.09%NMC Health (NMC) 275.80p +3.03%Greene King (GNK) 767.50p +2.88%FTSE 250 - FallersPerform Group (PER) 510.50p -12.29%Imagination Technologies Group (IMG) 271.50p -8.12%Man Group (EMG) 79.50p -6.08%Hochschild Mining (HOC) 156.40p -5.10%AZ Electronic Materials SA (DI) (AZEM) 294.60p -5.06%Polymetal International (POLY) 444.70p -4.16%Evraz (EVR) 96.55p -3.64%Elementis (ELM) 221.10p -3.03%IG Group Holdings (IGG) 564.50p -2.76%Fenner (FENR) 306.80p -2.60%