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London midday: Greece woes can't halt bulls

Fri, 23rd Apr 2010 12:29

London's leading shares have barely blinked on the news that Greece has asked for the $45bn EU/IMF aid package to be activated.The news hit the Euro, but has had little impact on a strong morning for UK equities.Oil company BP said it is initiating a rapid response to clear up an oil spill following the sinking of the Transocean Deepwater Horizon drilling rig 130 miles south-east of New Orleans. The company is assisting operator Transocean in an assessment of the well and sub-sea blow out preventer with remotely operated vehicles.Banks are going well with RBS, Barclays and Lloyds all higher, while utilities Severnt Trent, National Grid and United Utilities are at the bottom end of the market.Royal Bank of Scotland ihas received an upgrade from BarCap, which suggests RBS has a "more credible strategy for balance sheet shrinkage" than state-controlled rival Lloyds Banking. BarCap has raised its rating on RBS to overweight and doubled its price target to 70p.Engineer Morgan Crucible said operating profits and margins are above the comparable period for 2009 and in line with management expectations thanks to the cost savings made last year.Prudential has announced some details of its proposed listing in Hong Kong (HK). Dealings are expected to commence in the company's shares on the HK Stock Exchange on 11 May. Existing shareholders will be offered the opportunity to shift registration of their shares from London to Hong Kong.It has been a busy month for contract announcements at Balfour Beatty and it got busier still on Friday as the contractor announced two more deals, one in Colorado, USA for $100m, and one closer to home in London for £65m.Defence industry supplier Ultra Electronics said revenue has continued to grow and its performance in the first quarter has been in line with expectations.Information Management solutions provider SDL said performance for the first quarter is in line with management expectations for both revenue and operating profit.Scalextrix maker Hornby is to return to paying dividends after the second half of the year finished stronger than expected.Home shopping firm Findel said benchmark pre-tax profit will be lower than previously expected due to difficult market condition at its educational supplies division.Testing software specialist NCC has bought rival SDLC Solutions Limited for up to £15m in cash.FTSE 100 - RisersCarnival (CCL) 2,816.00p +4.61%Kingfisher (KGF) 246.00p +3.36%InterContinental Hotels Group (IHG) 1,111.00p +3.35%Royal Bank of Scotland Group (RBS) 55.40p +2.88%Wolseley (WOS) 1,615.00p +2.67%British Airways (BAY) 231.20p +2.53%Fresnillo (FRES) 836.50p +2.51%Lonmin (LMI) 1,976.00p +2.44%FTSE 100 - FallersARM Holdings (ARM) 254.20p -1.82%Prudential (PRU) 539.50p -1.10%Aviva (AV.) 371.30p -0.72%United Utilities Group (UU.) 551.00p -0.54%Severn Trent (SVT) 1,197.00p -0.17%GlaxoSmithKline (GSK) 1,243.50p -0.08%Bunzl (BNZL) 768.00p 0.00%AstraZeneca (AZN) 2,906.00p +0.03%FTSE 250 - RisersSIG (SHI) 138.30p +6.14%Dana Petroleum (DNX) 1,293.00p +4.78%Micro Focus International Plc (MCRO) 544.50p +4.71%Debenhams (DEB) 74.45p +4.05%Bodycote (BOY) 233.20p +3.88%FTSE 250 - FallersResolution (RSL) 76.05p -2.12%Punch Taverns (PUB) 95.20p -1.19%Hargreaves Lansdown (HL.) 369.00p -1.15%JPMorgan Japanese Inv Trust (JFJ) 176.00p -1.12%Eaga (EAGA) 135.60p -1.09%

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