London midday: FTSE 100 gives up gains

The FTSE 100 has run out of puff and is now flat despite good gains for BP.BP - more specifically last year's disastrous oil spill - is in focus again, but the oil giant's shares are higher after it said MOEX, part of the Japanese trading house Mitsui and the 10% owner of the Macondo oil well that blew up so disastrously last year, has agreed to pay the British oil giant $1.065bn.Pub group Mitchells & Butlers's trumpeting of the success of its move into food sales has failed to prevent sharp falls in its share price this morning. It made more money from food than drink for the first time in the half year to 9 April, but pre-tax profits at the All Bar One and O' Neills owner fell to £43m from £72m in the same period the previous year on total revenues that fell to £946m from £1.04bn.Due to cost pressures at Mitchells & Butlers, Nomura reduces its "ahead-of-consensus" 2012 earnings estimates, however the 'buy' rating and target price of 435p are kept in place. Shares in HMV have soared after the CD, DVD and book retailer said it has agreed to sell its bookshop chain has reached agreement on the sale of its bookshop chain Waterstones to the Russian billionaire Alexander Mamut, for £53m. Scottish and Southern Energy, the utility company, bumped up the dividend a bit more than expected. The full year dividend has been hiked 7.1% to 75p from 70p last year, a shade above market expectations of a 74.8p pay-out. Adjusted profit before tax in the year to March 31st rose 1.6% to £1,310m from £1,290m the year before, topping the market consensus forecast of £1.24bn.Northgate, the light commercial vehicle hire specialist, has promoted Chris Muir, its UK finance director, to the position of group finance director.Parseq has the wind in its sails for the second day in a row after revealing the identity of the mystery client it yesterday said it had won a major contract with. "The three-year contract has been secured with O2 to build, host and manage its new mobile wallet service," he said.FTSE 100 - RisersBP (BP.) 461.05p +2.94%Associated British Foods (ABF) 1,087.00p +2.84%Petrofac Ltd. (PFC) 1,566.00p +2.49%Invensys (ISYS) 305.60p +1.93%Investec (INVP) 495.90p +1.83%Burberry Group (BRBY) 1,362.00p +1.49%ITV (ITV) 70.70p +1.43%Antofagasta (ANTO) 1,218.00p +1.42%Standard Chartered (STAN) 1,607.00p +1.39%Scottish & Southern Energy (SSE) 1,345.00p +1.36%FTSE 100 - FallersLloyds Banking Group (LLOY) 52.19p -1.77%Imperial Tobacco Group (IMT) 2,176.00p -1.72%Wolseley (WOS) 2,042.00p -1.35%IMI (IMI) 1,028.00p -1.25%Next (NXT) 2,241.00p -1.19%Kingfisher (KGF) 281.70p -1.16%Amec (AMEC) 1,175.00p -1.01%Rolls-Royce Group (RR.) 640.50p -1.00%Serco Group (SRP) 550.00p -0.99%Man Group (EMG) 248.10p -0.96%FTSE 250 - RisersMicro Focus International Plc (MCRO) 385.30p +4.19%Ocado Group (OCDO) 209.80p +3.66%Booker Group (BOK) 69.80p +3.10%Aveva Group (AVV) 1,596.00p +2.77%Rightmove (RMV) 1,100.00p +2.71%Howden Joinery Group (HWDN) 118.00p +2.70%Centamin Egypt Ltd. (CEY) 126.80p +2.67%Elementis (ELM) 161.10p +2.61%Talvivaara Mining Company (TALV) 499.00p +2.57%Anglo Pacific Group (APF) 322.60p +2.45%FTSE 250 - FallersMitchells & Butlers (MAB) 319.30p -5.08%Supergroup (SGP) 1,079.00p -3.32%Babcock International Group (BAB) 683.50p -2.98%Tate & Lyle (TATE) 612.50p -2.47%Cable & Wireless Worldwide (CW.) 50.15p -2.43%Gem Diamonds Ltd. (DI) (GEMD) 272.60p -2.29%Devro (DVO) 286.00p -1.52%Kofax (KFX) 472.90p -1.27%Enterprise Inns (ETI) 81.45p -1.27%London Stock Exchange Group (LSE) 901.00p -1.21%