London close: Financials soar on Eurozone bailout hopes

In a battle between booming banks and melting miners, the banks emerged on top, as Footsie reversed early losses to finish in the blue. Hopes that Eurozone governments will get their act together and seriously bumnp up the Eurozone bailout fund, while pushing through more severe "haircuts" - reductions in redemption values - for holders of Greek sovereign debt, have lifted the financial sector.Insurers joined banks in the general euphoria, with life assurance specialist Aviva receiving an extra boost from a "buy" recommendation from Investec, which drew attention to the insurer's juicy dividend yield. "October should see Aviva take receipt of the £1bn from the sale of the RAC business. While we suspect the net of tax proceeds will be much smaller, this cash ought to be seen as underwriting this year's dividend even if business was bad," Investec said.Precious metals stocks finished the day in the doghouse, as prices for gold and silver continue their downward turn, bucking the usual rise seen in times of volatility. Mexican silver miner Fresnillo and gold group African Barrick were prominent fallers. Industrial metal extractors fared little better, with Kazakhmys and Vedanta also taking a bashing. In company news, business publisher Reed Elsevier is to acquire the entire issued share capital of Accuity Holdings from Investcorp, a global investment firm, for a consideration of £343m payable in cash. Compliance-focused Accuity is a US provider of online subscription-based data solutions for the financial services industry. The start of the second half of the year has been a tough one for Aberdeen Asset Management, which has seen assets under management (AUM), as at the end of August, slide 4.8% to £176.9bn from £185.7bn at the end of June. Most of the fall was accounted for by market movements and foreign exchange fluctuations, which reduced AUM by £8.1bn, but the business also saw net outflows of £0.8bn. On the plus side, the company said it had seen an increase in operating margins and that profit for the current financial year will be at the top end of analysts' forecasts of between £262m and £297m.Bunzl, the international distribution and outsourcing group, has announced two small bolt-on acquisitions. The first is Ideal Global Sistemas de Higiene, a Brazilian supplier of cleaning and hygiene consumable products. The other is D-Care, based in Utrecht, which is principally engaged in the distribution of medical disposable products throughout the Netherlands.Turning to smaller companies, media and publishing firm Dods is lower after it reduced half year losses but saw revenue drop as it battles against persistent market headwinds. The group, which employs 200 people and operates in the UK, France and Belgium, said adjusted pre-tax losses reduced to £584,000 for the six months ended 30 June 2011 from a loss of £593,000 before. Revenue for the period fell to £6.1m from £7.9m the year before. The group says it remains confident about meeting full year forecasts. Investors have an appetite for cake and bread maker Finsbury Food posted a 12.6% increase in annual revenue as its cake division returned to growth and progress was made across the rest of group. Adjusted pre-tax profit rose to £5.8m in the year ended 2 July 2011 from £5.4m the year before. Revenue swelled to £189.6m from £168.3m previously. Ricardo's full year results reveal the consultant engineer saw a welcome return of some of its former clients in the car manufacturing business. The company saw revenues rise 21% to £196.5m in the year to the end of June from £162.8m the year before.FTSE 100 - RisersBarclays (BARC) 156.00p +6.85%Legal & General Group (LGEN) 97.45p +6.39%Aviva (AV.) 295.00p +6.38%Admiral Group (ADM) 1,333.00p +4.88%Associated British Foods (ABF) 1,137.00p +4.41%FTSE 100 - FallersFresnillo (FRES) 1,524.00p -6.85%Kazakhmys (KAZ) 782.00p -3.93%Vedanta Resources (VED) 1,070.00p -3.86%FTSE 250 - RisersHeritage Oil (HOIL) 237.20p +6.51%Catlin Group Ltd. (CGL) 377.20p +5.96%Hansteen Holdings (HSTN) 73.95p +5.34%FTSE 250 - FallersAfrican Barrick Gold (ABG) 500.00p -12.20%Aquarius Platinum Ltd. (AQP) 177.00p -7.52%Premier Foods (PFD) 10.26p -5.52%--jh