London midday: Shares rise after Japan intervention

Shares are on the rise again today, helped by international financial intervention to help Japan following its catastrophic earthquake.The seven leading industrialised nations have taken concerted action to stop the rise of the Japanese yen. Monetary authorities in Japan, Europe, Britain and the US started action early yesterday in Tokyo, sparking an immediate fall in the Japanese currency from Y79 against the US dollar to under Y81.The international community is also intervening in Libya but in a different way. The United Nations Security Council voted to establish a no fly-zone over the North African country and take measures to defend civilians against forces loyal to Libyan leader Colonel Gaddafi.A resolution proposed by Britain, France, the US and Lebanon was supported by 10 Security Council members with the other five, including Germany, abstaining.The oil price continued rising following the vote. Crude-thirsty cruise operator Carnival and British Airways owner International Consolidated Airlines are under pressure.Power and gas grid operator National Grid is going well after OfGem published details of its new price review regime which it said will provide strong incentives and penalties to encourage smarter, more sustainable networks, delivering improved customer service.The price controls for Britain's gas and electricity transmission and gas distribution networks will run for eight years from 2013 until 2021.To encourage greater innovation, Ofgem will set up a £400m fund for the transmission and gas distribution companies. Go Ahead has raced ahead after the bus and train operator said it had accepted the Southeastern rail franchise.Bookmaker William Hill has been granted an extension to the injunction preventing Playtech from selling its stake in William Hill Online. In court yesterday, it was agreed the injunction will stay in place until a further court hearing which is expected to occur in May or shortly thereafter.London and south-east housebuilder Berkeley continues to benefit from the region's position as a pocket of strength in an otherwise gloomy housing market. "Berkeley anticipates reporting earnings at the high end of its expectations for the year ended 30 April 2011 and the investment in work in progress will enable a further growth in earnings in 2011/12 if overall market conditions permit," it said.Fund manager Jupiter, which relisted in June, is out of favour even after it enjoyed a profit burst in 2010. Profit before tax came in at £42.4m compared with £7.2m in 2009. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 37% o £124.6m.Having lowered expectations in January with a profits warning building services group T. Clarke managed to beat those downgraded expectations. Revenue in 2010 rose to £179.0m versus £175.5m in 2009 and against market expectations of £169.0m. Profit before tax slipped to £5.7m from £7.3m the year before. The market had pencilled in a figure of £5.63m.AssetCo's major shareholders are rallying round the cash-strapped outsourced fire services provider, ready to chip in with money to boost working capital.The company has had to rattle the begging bowl again because creditors have been demanding earlier repayment than usual since news emerged that the company is set to raise new funds through a placing. The demands have placed a considerable strain on AssetCo's working capital.Manganese Bronze, the company behind London's iconic black cabs, narrowed losses in 2010 and still thinks it can return to profit this year. The firm announced a deficit of £6.3m for the year just gone - "a year of transition" - down by a million from 2009, though revenue fell 5% to £69.6m as total new vehicle sales dropped by 154 to 1,879. Restructuring cost £3.5m.FTSE 100 - RisersNational Grid (NG.) 569.00p +2.99%Invensys (ISYS) 338.00p +2.89%Burberry Group (BRBY) 1,137.00p +2.62%Amec (AMEC) 1,140.00p +2.61%GKN (GKN) 193.90p +2.48%Man Group (EMG) 249.80p +2.29%Scottish & Southern Energy (SSE) 1,232.00p +2.24%Petrofac Ltd. (PFC) 1,425.00p +2.08%BAE Systems (BA.) 313.30p +2.02%Prudential (PRU) 703.50p +1.96%FTSE 100 - FallersARM Holdings (ARM) 523.00p -1.97%Barclays (BARC) 279.50p -1.43%Compass Group (CPG) 532.50p -1.30%International Consolidated Airlines Group SA (IAG) 215.80p -1.19%Carnival (CCL) 2,470.00p -1.12%Marks & Spencer Group (MKS) 332.00p -0.93%Next (NXT) 1,936.00p -0.82%Vodafone Group (VOD) 170.10p -0.79%GlaxoSmithKline (GSK) 1,148.50p -0.73%Inmarsat (ISAT) 575.00p -0.69%FTSE 250 - RisersExillon Energy (EXI) 408.80p +5.44%COLT Group SA (COLT) 151.40p +5.43%Salamander Energy (SMDR) 276.70p +4.93%Lancashire Holdings (LRE) 595.00p +4.66%Kenmare Resources (KMR) 38.15p +3.92%Renishaw (RSW) 1,569.00p +3.91%International Personal Finance (IPF) 322.00p +3.87%Telecity Group (TCY) 490.00p +3.79%Berkeley Group Holdings (BKG) 1,042.00p +3.78%Go-Ahead Group (GOG) 1,378.00p +3.69%FTSE 250 - FallersJupiter Fund Management (JUP) 299.50p -5.91%JPMorgan Indian Inv Trust (JII) 404.00p -2.34%Lamprell (LAM) 282.60p -2.21%Micro Focus International Plc (MCRO) 296.00p -2.08%Hansen Transmissions International NV (DI) (HSN) 48.30p -1.93%Daejan Holdings (DJAN) 2,700.00p -1.78%JD Wetherspoon (JDW) 413.10p -1.67%Domino Printing Sciences (DNO) 634.50p -1.63%Pace (PIC) 163.50p -1.39%London & Stamford Property Ltd. (LSP) 125.50p -1.34%