London open: Mixed reception for company updates

Stocks are suffering more losses in early dealings, with company updates failing to impress the market.Oilfield services group Wood Group slips after saying it is to return £1.05bn to shareholders by way of a tender offer to repurchase up to 32.1% of the issued ordinary share capital of the group. The strike price range has been set at 605p to 625p. The strike price range represents a discount of 6.1% to 3.0% to the closing price of Wood shares on 13 May, the last trading day before the announcement of the tender offer.However, London Stock Exchange moves ahead after saying it remains committed to its proposed merger with its Canadian counterpart TMX despite learning that TMX has received an approach from Maple, a consortium of Canadian financial institutions and pension funds.Pork sausages maker Cranswick enjoyed a record year of sales and profitability, despite sales growth petering out in the first quarter of 2011. Pre-tax profit rose 8% to £47.1m from £43.8m the year before.Exhibitions organiser ITE said it is now operating in a 'business as usual' environment in its main market Moscow after recovering from the global economic downturn. In the six months to 31 March, headline pre-tax profits climbed to £9.1m from £6.4m over the same period the previous year on revenues that were up to £53m from £39.2m. Education IT services provider RM falls after it swung to a pre-tax loss and said UK and US markets remain challenging amid ongoing spending cuts. Budget cuts in the UK and US has hurt demand for its services with trading conditions continuing to be very challenging, RM explained. FTSE 100 - RisersAntofagasta (ANTO) 1,153.00p +0.96%Kazakhmys (KAZ) 1,220.00p +0.58%Vodafone Group (VOD) 168.50p +0.57%InterContinental Hotels Group (IHG) 1,291.00p +0.55%Randgold Resources Ltd. (RRS) 4,725.00p +0.51%Vedanta Resources (VED) 2,111.00p +0.38%Inmarsat (ISAT) 620.50p +0.32%Xstrata (XTA) 1,361.50p +0.26%Diageo (DGE) 1,299.00p +0.23%Anglo American (AAL) 2,924.00p +0.22%FTSE 100 - FallersGKN (GKN) 208.50p -1.65%Centrica (CNA) 312.50p -1.51%Wolseley (WOS) 2,081.00p -1.33%John Wood Group (WG.) 637.00p -1.16%BAE Systems (BA.) 335.30p -1.15%Pearson (PSON) 1,158.00p -1.11%IMI (IMI) 1,071.00p -1.11%Aggreko (AGK) 1,791.00p -1.10%Johnson Matthey (JMAT) 1,969.00p -1.06%Serco Group (SRP) 560.50p -1.06%FTSE 250 - RisersCPP Group (CPP) 128.50p +4.47%Kesa Electricals (KESA) 146.20p +3.69%Mitie Group (MTO) 221.00p +3.37%Dixons Retail (DXNS) 16.67p +3.09%Dignity (DTY) 765.00p +2.62%Paragon Group Of Companies (PAG) 185.00p +1.87%BTG (BGC) 256.00p +1.63%Betfair Group (BET) 829.50p +1.28%London Stock Exchange Group (LSE) 837.00p +1.15%Imagination Technologies Group (IMG) 490.40p +1.11%FTSE 250 - FallersAfrican Barrick Gold (ABG) 473.00p -5.08%Hochschild Mining (HOC) 524.00p -2.69%Supergroup (SGP) 1,131.00p -2.50%Rathbone Brothers (RAT) 1,141.00p -2.23%Carillion (CLLN) 394.90p -2.06%Punch Taverns (PUB) 76.10p -1.81%Enterprise Inns (ETI) 89.95p -1.80%Talvivaara Mining Company (TALV) 457.40p -1.68%Jardine Lloyd Thompson Group (JLT) 691.00p -1.64%Marston's (MARS) 110.20p -1.61%