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London close: Weak finish to volatile week

Fri, 30th Sep 2011 16:54

Stocks were on the back foot heading into the weekend amid continuing worries over global growth.Data showing consumer confidence has risen for the first time in four months failed to lighten the mood. The index of sentiment remained firmly negative in September at -30, up a point from the previous month. Citigroup is showing growing pessimism over the global economy. Yesterday, it lowered its global gross domestic product (GDP) estimates for 2011 and 2012 for the second time this month because growth prospects "continue to deteriorate quickly." Miners such as Aquarius Platinum were among the fallers after the Chinese Purchasing Managers' Index was unchanged from the previous month at 49.9 in September. Luxury goods group Burberry, which depends on China for much of its growth, continued a weak spell. Precious metals miners Fresnillo (silver) and Randgold Resources (gold)were in demand for their haven qualities.At the wrong end of the leaderboard was goods tester Intertek afterUBS cuts its rating on the stock from "neutral" to "sell".Rigid plastic packaging supplier RPC firmed after saying it expects its adjusted pre-tax profits for the first half to be ahead of expectations after benefitting from synergies from the integration of its plastics and cardboard packaging business Superfos and growth in sales of products with big margins, such as coffee capsules.Britain's second biggest car accident repair chain Just Car Clinics crashes following its announcement that it is planning to cancel its listing on AIM after concluding that the benefits do not justify the costs and management time. The company said it also does not think that any of the perceived benefits of listing on AIM are likely to accrue in the near future.Shares in Alterian fell back after the marketing software provider said its detailed company review is not looking at ways to sell the business. The company, which welcomed a new chief executive, Heath Davies, earlier this month, said it will "examine Alterian's positioning in its target markets to ensure it has the appropriate level of resources required both to achieve a leadership position and to create shareholder value.""The prize will be worth the effort," were the words of troubled ViaLogy's chairman, but it appears they fell on deaf ears on Friday as the share price fell more than 18%. Shareholders were clearly more concerned to see that pre-tax losses for the company, which provides sensor technology used in the oil and gas industry, had risen £0.2m to £6.36m for the full year to the end of March. FTSE 100 - RisersFresnillo (FRES) 1,586.00p +4.76%Randgold Resources Ltd. (RRS) 6,290.00p +2.61%Shire Plc (SHP) 2,010.00p +1.46%Morrison (Wm) Supermarkets (MRW) 290.50p +1.01%Severn Trent (SVT) 1,541.00p +0.98%United Utilities Group (UU.) 624.00p +0.65%SABMiller (SAB) 2,107.50p +0.50%Wolseley (WOS) 1,607.00p +0.37%BG Group (BG.) 1,241.50p +0.36%Centrica (CNA) 297.70p +0.24%FTSE 100 - FallersIntertek Group (ITRK) 1,855.00p -9.51%Ashmore Group (ASHM) 324.50p -7.29%Standard Chartered (STAN) 1,287.00p -5.23%Kazakhmys (KAZ) 793.00p -4.92%Barclays (BARC) 161.35p -4.61%WPP (WPP) 601.00p -4.53%Lloyds Banking Group (LLOY) 34.87p -4.44%Amec (AMEC) 815.50p -4.40%Man Group (EMG) 168.50p -4.26%International Consolidated Airlines Group SA (IAG) 153.10p -4.13%FTSE 250 - RisersPerform Group (PER) 225.00p +5.44%Domino's Pizza UK & IRL (DOM) 445.50p +4.23%Bwin.party Digital Entertainment (BPTY) 123.60p +3.87%RPC Group (RPC) 337.00p +3.06%Euromoney Institutional Investor (ERM) 615.00p +2.84%Daejan Holdings (DJAN) 2,438.00p +2.70%QinetiQ Group (QQ.) 116.70p +2.64%International Personal Finance (IPF) 223.30p +2.29%Premier Foods (PFD) 10.33p +2.28%Thomas Cook Group (TCG) 39.89p +2.28%FTSE 250 - FallersAfren (AFR) 81.25p -10.71%Pace (PIC) 95.15p -6.81%Bodycote (BOY) 247.30p -6.78%Aquarius Platinum Ltd. (AQP) 177.30p -6.68%ITE Group (ITE) 158.10p -5.84%AZ Electronic Materials SA (WI) (AZEM) 221.00p -5.56%Talvivaara Mining Company (TALV) 252.00p -5.55%Barratt Developments (BDEV) 78.45p -5.42%Inchcape (INCH) 279.40p -5.29%Imagination Technologies Group (IMG) 419.20p -5.03%

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