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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%
More News
4 Nov 2011 17:31

Bramson tightens hold on FCAM

Activist investor Edward Bramson effectively staged a board room coup earlier this year at F&C Asset Management, but having installed himself as chairman, he has continued to build up his interest in the company. On Friday, he acquired a beneficial interest of 200,000 shares in the asset management

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18 Oct 2011 15:34

Hikma non execs buy big stakes

Two non-executive directors at Hikma Pharmaceuticals have upped their stakes in the Arab world-focused pharmaceutical company. Ronald Goode took 8,000 shares at 633p a time, lifting his stake to 22,700 shares, while Robert Pickering snapped up 7,500 shares at 617p a pop, having previously had none.

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22 Sep 2011 14:30

Centamin Egypt boss buys again

The chairman of FTSE 250-listed gold miner Centamin Egypt Josef El-Raghy has doubled his personal stake in the company, taking more than £550,000 of shares. He took 500,000 at 110.9p a time and now has a personal holding of 1m shares. However, including "his connected persons" El-Raghy has 71.2m s

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13 Sep 2011 13:27

IFG no longer in takeover talks

Dublin-based pensions adviser and administration company IFG Group is no longer in exclusive takeover talks with private equity firm Bregal Capital, it announced today. In June IFG said it had received two approaches in relation to possible offers for the company and had invited both parties to und

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31 Aug 2011 10:10

IFG Group talking to Bregal about takeover

Dublin-based pensions adviser and administration company, IFG Group, said it was in exclusive takeover talks with private equity firm Bregal Capital. In June IFG said it had receieved two approaches in relation to possible offers for the company and had invited both parties to undertake due diligen

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4 May 2011 13:49

IFG soars after bid approach

IFG Group saw shares soar on Wednesday after revealing that it has received an approach that could lead to an offer for the company. IFG, which provides self-invested personal pensions in the UK and Ireland, said that the approach - from an unnamed party - is in the preliminary stages and is subjec

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11 Jan 2011 17:51

Sainsbury's commercial director goes shopping

Sainsbury's commercial director Michael Coupe has taken a big chunk of shares ahead of the supermarket operator's trading statement tomorrow. He took 8,621 shares at 390.53 a time, spending nearly £34,000, and now has 798,285. News of the purchase, which was made last week, comes as data from mar

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16 Nov 2010 15:44

Ireland, Cyprus and Switzerland slow IFG

Financial advice and administrative services group IFG Group expects adjusted earnings per share for the full year to in line with market forecasts of 18 to 20 cents, despite tougher trading in some of its overseas markets. In the UK, which accounts for around 55% - 60% of group profits, the pensio

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22 Oct 2010 16:41

Amlin non-exec increases stake

Amlin independent non-executive director Sir Mark Wrightson has invested nearly £20,000 in increasing his stake in the Lloyds' insurance firm. Sir Mark bought 5,000 shares at 395.75p each, taking his stake to 13,888 shares. He also acquired 1,000 shares 395.26p a share in his position as a trustee

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21 Oct 2010 16:45

Michael Page executives raise £7.8m

Three Michael Page International executive directors have raised £7.8m between them by selling shares in the recruitment company. They sold the shares on Wednesday, which was the day before Goldman Sachs cut its recommendation from buy to hold. Each of the three executives made four separate dis

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19 Jun 2009 17:30

Paddy Power non-exec trims stake

Tom Grace, senior independent director of Paddy Power, has cut his stake in the Irish bookie, which has seen a rally in the share price since February. Grace, a former Irish rugby international and the treasurer of the Irish Rugby Football Union, sold €165,000 worth at €10 per share. Grace joined t

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18 May 2009 12:48

Small caps round-up: IFG, Lamprell, Ocean Wilsons

Irish finance group IFG expects full year 2009 earnings to hit market expectations of 18-20c adjusted earnings per share. The international and UK businesses continue to perform well despite challenging trading conditions. Trading conditions are extremely difficult in Ireland, which now accounts fo

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