London afternoon: Back to square one

Footsie has limped back into positive territory, helped by an about turn by the mining stocks.After spending the morning down in the dumps Rio Tinto is now the best performing mining stock as metal prices head northwards. Fellow mining stocks Xstrata and Anglo American join Rio on the rise but South African platinum miner Lonmin is still on the slide after its plans to get its Number One furnace back fully on line hit a snag that will add around 25-30 days to the commissioning process. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. So far 23,000 claims have been filed in relation to the MC252 oil well spill and 9,000 have already been paid. A week ago, it had cost the company about $625m.Peers Cairn Energy, Tullow Oil and Royal Dutch Shell are also among the worst performers.On the positive side, Prudential is wanted on reports that US firm AIG has drawn up plans to float its Asian arm again if the Pru's attempts to buy it collapse.British Airways has given up early gains. Cabin crew started their strike today despite last ditch attempts to get it averted.Travellers face massive disruption despite BA's attempt to fly as many planes as possible, although it had looked like industrial action could be avoided following a last-minute overture from the Unite union.Invensys grew full-year profit, though not by as much as analysts would have liked, but the firm still remains positive about the outlook based on its large order book and view of economic conditions. Profits fell by 25% at bid target Chloride last year, as recession hit its markets in Europe and the US. The power supplies group saw profits fall to £29.9m from £39.8m in the year to March, after a £5.9m one-of charge. Adjusted operating profits fell 4% to £44.7m. Sales rose by 3% to £336m.Pork products supplier Cranswick brought home the bacon last year, delivering a 26% surge in annual pre-tax profit. Revenues were up 22% to £740m. Net debt reduced by £11.9m to £54.7m. The company said it is encouraged by the positive start made in the current financial year. AG Barr, the Scottish soft drinks maker best known for its iconic Irn Bru concoction, said sales have continued frothing over in the new financial year.Recession has kept Albemarle & Bond's pawnbroker business performing strongly and it expects results for the 12 months to June 2010 to meet market expectations.Oil companies Europa and Aurelian are wanted after good progress on the Voitinel-1 well in the Brodina Block in Romania, in which they both have sizeable stakes.ValiRx, the biotech firm, has added Biovei's over the counter Chlamydia self-testing kit to its range of health screening products. Biomaterials and medical devices group Aortech has announced a non-exclusive technology licence and material supply agreement with a multi-billion dollar NYSE listed company to use the group's proprietary biostable co-polymer Elast-Eo as an integral part of a drug delivery platform for urological catheters.