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London midday: Trichet comments heap more gloom

Thu, 23rd Jun 2011 12:19

Gloomy comments from European Central Bank (ECB) President Jean-Claude Trichet have sent stocks further into the red.Trichet warned that the Greek debt crisis threatens to infect banks. Recycled packaging firm DS Smith is in demand after it overcame a sharp rise in input costs to grow pre-tax profits by 86% last year. Profit before tax in the year to 30 April rose to £102.2m from £55.0m the year before, on sales that rose 19.5% to £2,474.5m from £2,070.6m. With the effects of the recent acquisition of Otor stripped out, sales rose 10.0% year-on-year.Train and bus operator Go-Ahead has moved into reverse, despite a strong start after saying it expects to post a full-year profit ahead of expectations as high petrol prices and tough economic conditions prompt drivers to abandon their cars in favour of public transport.Currys and PC World owner Dixons is down after it saw underlying profit before tax dip to £85.3m in the year to end-April from £90.0m the year before. The group said it is increasing market share across most of its markets and sectors, especially in the UK and the Nordic countries.Military decoy flare and mine detection firm Chemring is under heavy attack even after it managed to post a sharp rise in sales and profits in the half-year to 30 April despite constraints on military spending in Britain and the US. Revenues climbed by 29% from the previous year to £329.8m, while underlying pre-tax profits were up by 17% at £49.6m. Software group Micro Focus is in the red after the company's underlying earnings coming in below the guidance range issued at the time of the company's February profits warning. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $158.7m in the year to 30 April, down 8.4% from the $173.3m achieved the year before. The group had indicated in February that underlying earnings would be in a range running from $159m to $167m.FTSE 100 - RisersBritish Sky Broadcasting Group (BSY) 838.00p +0.90%ITV (ITV) 67.15p +0.83%Associated British Foods (ABF) 1,081.00p +0.75%Capita Group (CPI) 728.50p +0.55%Shire Plc (SHP) 1,853.00p +0.32%Sainsbury (J) (SBRY) 326.40p +0.15%Imperial Tobacco Group (IMT) 2,033.00p +0.15%Marks & Spencer Group (MKS) 366.70p +0.05%Aviva (AV.) 428.90p -0.07%National Grid (NG.) 591.50p -0.08%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 37.36p -3.34%Vedanta Resources (VED) 1,906.00p -3.10%Eurasian Natural Resources Corp. (ENRC) 710.00p -3.07%Antofagasta (ANTO) 1,242.00p -3.04%Glencore International (GLEN) 475.10p -3.04%Lloyds Banking Group (LLOY) 45.62p -2.93%Essar Energy (ESSR) 400.30p -2.77%International Consolidated Airlines Group SA (IAG) 237.00p -2.27%Anglo American (AAL) 2,851.00p -2.20%Xstrata (XTA) 1,261.50p -2.17%FTSE 250 - RisersDS Smith (SMDS) 238.40p +11.61%Bwin.party Digital Entertainment (BPTY) 132.00p +3.94%Telecom Plus (TEP) 645.00p +3.37%Premier Foods (PFD) 26.06p +2.20%Dixons Retail (DXNS) 16.81p +1.69%Henderson Group (HGG) 147.50p +1.65%Misys (MSY) 416.80p +1.56%Berendsen (BRSN) 492.10p +1.46%FirstGroup (FGP) 332.40p +1.28%Aberdeen Asset Management (ADN) 215.20p +1.03%FTSE 250 - FallersMicro Focus International Plc (MCRO) 324.30p -8.39%Ocado Group (OCDO) 180.00p -7.79%Imagination Technologies Group (IMG) 384.70p -7.19%Chemring Group (CHG) 596.00p -6.44%Afren (AFR) 153.30p -3.46%Exillon Energy (EXI) 402.00p -3.37%Big Yellow Group (BYG) 302.80p -2.79%Halma (HLMA) 389.20p -2.68%Renishaw (RSW) 1,661.00p -2.64%ITE Group (ITE) 209.10p -2.56%
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