RED.L Share News (RED)

After opening brightly London's leading shares have been treading water since the middle of the morning. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources lead the mining sector higher, as metal prices improve. Gold miner Randgold Resources is wanted after the price of gold bullion pushed through the $1,000 mark for the third time in its history, but this time some traders predict it could breach its all-time high of $1,030, though on an inflation-adjusted basis the price peak is much higher.Hotel group InterContinental (IHG) is the best performing blue-chip on the back of an 'outperform' recommendation from Credit Suisse, which has upped IHG's target price to 910p. Elsewhere in the leisure sector British Airways gains altitude after sector peer Air France-KLM saw its load factor improve in August, albeit after it cut back capacity by 4.2%. Kingfisher is going well after it mistakenly circulated some draft figures on Monday afternoon. That has forced the DIY retailer to admit this morning that adjusted pre-tax profit for the six months to 1 August will be between £285m and £290m.Cadbury is up again as the bid from Kraft looks unlikely to succeed at its current level. 800p seems to be the minimum figure mentioned by fund managers, while there is still talk that Nestle might get involved. Aerospace and defence group BAE has made a complaint to the US Government Accountability Office (GAO) asking it to review a US Army decision to award a vehicle contract to Oshkosh, one of its US competitors. Strong food sales helped pub group and Abbot Ale brewer Greene King post a healthy rise in like-for-like sales in the 17 weeks to 30 August, up 4.6%. Food operations grew 8.1%, while sales at Scottish business Belhaven were up 10.9%. Greene King added that margins have stayed strong across its pubs. Soco International has plugged and abandoned the Liyeke Marine 1 well, offshore the Republic of Congo, after the target reservoir was found to be water saturated. 'A 62 metre heavy oil column was encountered in the overlying sediments, but the log and sample data indicated that the oil would not flow,' Soco said. Cardboard and paper supplier DS Smith enjoyed a better than expected first quarter's trading, but is still concerned about the level of demand overall while input costs are rising. Industrial equipment rental firm Ashtead saw pre-tax profits plunge in the quarter to July 31 as tough economic conditions forced customers in the US and UK to scale back spending. Figures were not as bad as feared, however, and the share price has responded positively.National Express is working on a daring last-ditch plan to offer its UK bus and rail franchises directly to Stagecoach in a side deal that could save it from a takeover by CVC. The transport group was weighing up last night whether to accept a £765m joint bid from CVC and Stagecoach or to sell assets, the Times reports.Catalogue-based antibodies distributor Abcam underlined the recession-proof nature of its business with doubled profits in the year just ended. The AIM-listed group made £16.3m in the year to June, against £8m last time.Heavily indebted IT and telecoms group Redstone has downgraded earnings guidance for the year to end-March 2009 after a number of adjustments coming to light in the post balance sheet review period. The company's shares shot higher, however, after the company revealed it has entered into discussions with Eckoh Technologies about the loan facility between Redstone subsidiary Symphony Telecom Holdings and Eckoh.Mining exploration and mineral investment company Regency Mines declared the drilling results of its Botue-Mambare nickel exploration project to be 'highly encouraging'.