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London close: Good gains as FTSE 100 rallies

Tue, 13th Sep 2011 16:58

Stocks rediscovered their earlier buoyancy to finish with strong gains as hopes of a resolution of the euro crisis attracted buyers.Today's big mover, Cairn Energy, fell sharply after reporting disappointing results from its drilling campaign offshore Greenland, with one well coming up dry and another showing only minor hydrocarbons.Restaurant and pubs group Mitchells & Butlers, jumped after rejecting a takeover offer from its largest shareholder, the billionaire Joe Lewis.Spread-betting firm IG Group edged higher after revealing that revenues reached £100m in the first quarter, after saying in August that it expected sales to pass the £94m mark.Train and coach operator National Express has acquired the fifth largest provider of student transportation services in the US for $200m. Commercial vehicle hire company Northgate was in demand as it said despite tough economic conditions hitting its UK and Spanish markets, trading between May and September has been in line with the company expectations.Despite seeing record profits in the year ended June, asset manager Ashmore Group fell on the back of disappointment over the level of performance fees for funds ending (August) in the current financial year. The group also warned that while it recorded a fifth successive year of operating margin "in the 70s" (72%), "we would expect this to finally enter the '60s' in the year to come".Investors had an appetite for Tasty, the restaurant company behind the Wildwood and Dim T chains, has seen sales grow by 43% in the six months to the 3rd of July, compared to the same period of 2010. Operating profit grew to £526,000 from £94,000 and overall profit before tax for the period was up to £444,000 from £9,000.The toys, games and giftware company, Character Group fell after saying its year end results will meet market expectations. The firm, which produces branded toys such as Peppa Pig, Bob the Builder and Fireman Sam, says it felt obliged to update investors amidst the current economic gloom. Physiomics, which makes computer models that simulate biological cell behaviour, was wanted after saying it has agreed to collaborate over development of a prostate cancer drug. The agreement with ValiPharam Limited will see Physiomics help test how the drug "VAL201" performs in combating tumour growth.Claims management and insurance consultant Resources in Insurance rose after announcing a major contract with a "leading property and travel insurer" for its Verify product. After securing a number of small clients in the motor industry during 2011, Verify has won its first major contract from one of the "UK's leading insurers for property and travel investigation claims". Shares in AIM-listed miner Sunrise Resources plummeted on Tuesday after the firm revealed disappointing results from a second drill programme at the Long Lake Gold Project near Sudbury in Canada. Dublin-based pensions adviser and administration company IFG Group tanked after saying it is no longer in exclusive takeover talks with private equity firm Bregal Capital. FTSE 100 - RisersMan Group (EMG) 228.10p +5.50%Inmarsat (ISAT) 486.20p +3.51%Carnival (CCL) 1,986.00p +3.17%Barclays (BARC) 148.30p +2.99%Lloyds Banking Group (LLOY) 31.83p +2.55%ITV (ITV) 53.60p +2.10%Royal Bank of Scotland Group (RBS) 21.88p +1.77%Marks & Spencer Group (MKS) 318.60p +1.30%Standard Chartered (STAN) 1,339.00p +1.09%ARM Holdings (ARM) 586.50p +1.03%FTSE 100 - FallersFresnillo (FRES) 1,930.00p -10.23%Cairn Energy (CNE) 287.00p -9.92%Land Securities Group (LAND) 670.00p -5.96%Hargreaves Lansdown (HL.) 457.30p -4.29%Schroders (SDR) 1,325.00p -4.26%Schroders (Non-Voting) (SDRC) 1,060.00p -4.16%Antofagasta (ANTO) 1,238.00p -3.96%Petrofac Ltd. (PFC) 1,318.00p -3.65%International Consolidated Airlines Group SA (IAG) 146.50p -3.62%Resolution Ltd. (RSL) 237.80p -3.37%FTSE 250 - RisersMitchells & Butlers (MAB) 251.00p +14.04%Enterprise Inns (ETI) 35.10p +7.87%Charter International (CHTR) 855.00p +6.34%Gem Diamonds Ltd. (DI) (GEMD) 219.00p +4.29%Melrose (MRO) 291.80p +4.21%BH Macro Ltd. USD Shares (BHMU) 20.09 +4.09%National Express Group (NEX) 230.80p +3.82%Spirit Pub Company (SPRT) 40.00p +3.63%CSR (CSR) 215.50p +3.61%BH Macro Ltd. EUR Shares (BHME) € 20.00 +3.57%FTSE 250 - FallersKofax (KFX) 283.00p -8.50%Talvivaara Mining Company (TALV) 284.00p -7.13%Premier Foods (PFD) 11.34p -6.97%International Personal Finance (IPF) 219.10p -6.73%Morgan Crucible Co (MGCR) 247.30p -6.47%Ashmore Group (ASHM) 385.00p -6.17%New World Resources A Shares (NWR) 544.00p -5.56%St James's Place (STJ) 318.40p -5.52%Cable & Wireless Worldwide (CW.) 30.90p -5.50%Domino's Pizza UK & IRL (DOM) 492.40p -5.31%
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