3i Group Share News (III)

Investors are holding fire ahead of this afternoon's release of US gross domestic product data. The downgrading of the credit rating of Spanish sovereign debt came as little surprise and has had minimal effect on sentiment, as has news that the bail out of Anglo Irish Bank could cost Ireland as much as €34bn (£29bn).Inter-dealer broker ICAP leads the market lower after it said earnings would be hit by debt refinancing costs. The company said that current profit forecasts from the investment analyst community for the year to March 2011, which range from £333m to £357m, appear 'reasonable' assuming steady exchange rates.Compass Group has headed south even after the contract caterer upped its sales growth guidance again after a strong fourth quarter. Having said in late July that organic sales growth this year would be around 2.5% the company now thinks it will be closer to 3%, including the impact of acquisitions.Another company upping its sales guidance is Analysts ITE. The exhibitions group said it enjoyed strong trading in the fourth quarter and expects revenue for the year to end-September to be around £112m, down from last year's £117m, but comfortably ahead of market expectations of £108.4m.Increased profits from its cheese products have underpinned an improvement in trading at dairy goods firm Dairy Crest. The company said trading in the six months to the end of September has been in line with management expectations and ahead of last year.Sugar and sweetener firm Tate & Lyle said it expects its encouraging start to the year to continue in spite of higher corn costs. In the speciality food ingredients division, growth in speciality sweeteners and starches has remained steady, while sucralose volumes have been robust, though at lower selling prices, the company said.Private equity house 3i spent much more money on investments and sold far less during the five months to the end of August, it revealed ahead of meetings with analysts and investors. The blue chip firm made investments of £257m during the period, up from £155m last year when the financial crisis was still raging. Buyouts accounted for £236m and growth capital £21m.Rolls-Royce chief executive Sir John Rose will retire from the company at the end of March 2011. He will be succeeded by John Rishton, currently chief executive of the Dutch retail group Royal Ahold. John Rishton has been a non-executive director of Rolls-Royce since 2007 and chairs the Audit Committee. The shares have fallen.Shares in Homeserve are lower after the home emergency business even after it said it expects profits for the first half of the year to be ahead of the same period the previous year and in line with expectations.Property developer St. Modwen Properties said while the outlook for commercial property remains uncertain, trading at the group is not deteriorating. The company has made significant progress in all areas of the business, following its return to profit at the half year stage.Sticking with the property sector, property investment firm Quintain Estates said strong progress has been made in the last six months towards its key milestones for the financial year. In a trading update for the six months to 30 September 2010 the social housing and regeneration specialist said it is confident of further delivery during the current calendar year.FTSE 100 - RisersEurasian Natural Resources (ENRC) 920.00p +1.77%Burberry Group (BRBY) 1,037.00p +1.67%African Barrick Gold (ABG) 595.00p +1.62%Lonmin (LMI) 1,690.00p +1.38%BP (BP.) 426.60p +1.33%Anglo American (AAL) 2,563.00p +1.24%Fresnillo (FRES) 1,264.00p +1.12%Man Group (EMG) 215.40p +1.03%Smiths Group (SMIN) 1,207.00p +0.92%Kazakhmys (KAZ) 1,470.00p +0.89%FTSE 100 - FallersICAP (IAP) 422.40p -3.52%Compass Group (CPG) 539.50p -2.18%Morrison (Wm) Supermarkets (MRW) 296.50p -1.85%InterContinental Hotels Group (IHG) 1,130.00p -1.74%Standard Chartered (STAN) 1,851.50p -1.57%Carnival (CCL) 2,504.00p -1.46%Sainsbury (J) (SBRY) 389.50p -1.39%Old Mutual (OML) 138.70p -1.28%BT Group (BT.A) 139.40p -1.27%Unilever (ULVR) 1,821.00p -1.25%FTSE 250 - RisersCSR (CSR) 362.40p +5.75%Senior (SNR) 135.30p +4.97%Halma (HLMA) 318.70p +3.47%FTSE 250 - FallersRegus (RGU) 80.30p -3.83%IG Group Holdings (IGG) 494.00p -2.95%Ladbrokes (LAD) 133.60p -2.84%