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Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

London close: Stocks dive as Greek worries persist

Wed, 21st Sep 2011 16:50

Shares closed firmly in the red as the Eurozone crisis rumbled on, with Greece's government meeting to discuss austerity measures including public sector lay-offs.Reports suggest that Greece will have to wait until next week to find out if it has done enough to persuade the officials from the International Monetary Fund, the European Central Bank and the European Union - collectively referred to as the Troika - to cough up the sixth tranche of its bail-out package. In stocks, Ocado was out of favour amid fears that the grocery delivery firm will be hit by a new price offensive by supermarket Tesco.Miners were also lower, with South American copper mining specialist Antofagasta leading the FTSE 100 lower. Lloyds Banking topped the leaderboard after a report from the Financial Times which said that the firm is set to sell a portfolio of commercial property loans worth around £1bn. Lloyds has declined to comment on the matter. Turning to smaller companies, property consultant DTZ jumped after saying it doesn't know why its share price has been falling. Polo Resources fell sharply after stock broker Evolution Securities lowered its target price on the mining group after the firm announced it will trade ex-entitlement to the 2p special dividend which the group will pay on 5 October as a result of the sale of Caledon Resources. Despite lowering its target Evolution highlighted the strong case which it continues to see for investing in the firm. "We reiterate our buy recommendation, but lower our target price from 8p to 6p per share. Polo shareholders have had a lot to smile about during the last 12 months. Following the recent sale of Caledon Resources, Polo will soon pay a 2p per share dividend, equating to $47m. It is for this reason that we have lowered our target price."FTSE 100 - RisersLloyds Banking Group (LLOY) 36.16p +5.64%Essar Energy (ESSR) 269.20p +2.71%National Grid (NG.) 647.00p +1.33%Royal Bank of Scotland Group (RBS) 23.38p +1.26%Intertek Group (ITRK) 2,043.00p +1.24%Land Securities Group (LAND) 682.50p +0.89%Experian (EXPN) 720.00p +0.84%Tate & Lyle (TATE) 622.50p +0.81%Capita Group (CPI) 737.00p +0.68%Rolls-Royce Group (RR.) 625.00p +0.64%FTSE 100 - FallersAntofagasta (ANTO) 1,114.00p -6.93%Rio Tinto (RIO) 3,389.00p -4.20%Aviva (AV.) 295.00p -4.13%BHP Billiton (BLT) 1,888.50p -3.89%Xstrata (XTA) 939.80p -3.71%Glencore International (GLEN) 436.25p -3.39%Eurasian Natural Resources Corp. (ENRC) 631.00p -3.37%Compass Group (CPG) 541.50p -3.30%International Power (IPR) 327.00p -2.68%Inmarsat (ISAT) 490.20p -2.64%FTSE 250 - RisersImagination Technologies Group (IMG) 445.90p +5.41%Cookson Group (CKSN) 465.30p +4.70%Moneysupermarket.com Group (MONY) 116.60p +4.20%Premier Foods (PFD) 12.68p +3.76%Bellway (BWY) 627.50p +3.55%Heritage Oil (HOIL) 243.30p +3.53%Taylor Wimpey (TW.) 34.62p +3.31%Bovis Homes Group (BVS) 418.60p +3.21%Morgan Crucible Co (MGCR) 256.20p +3.14%Dairy Crest Group (DCG) 350.00p +2.61%FTSE 250 - FallersOcado Group (OCDO) 102.50p -11.41%Afren (AFR) 94.00p -6.09%Spirit Pub Company (SPRT) 39.00p -5.45%Exillon Energy (EXI) 274.00p -4.96%Ashmore Group (ASHM) 391.60p -4.49%Rank Group (RNK) 129.00p -4.44%Misys (MSY) 246.00p -4.28%Debenhams (DEB) 56.00p -4.27%Petropavlovsk (POG) 797.50p -4.09%Murray Income Trust (MUT) 590.00p -3.75%

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