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Date: Friday 05 Sep 2008

  • Market Movers
  • techMARK 1,410.72 -1.82%
  • FTSE 100 5,240.70 -2.26%
  • FTSE 250 8,966.80 -2.00%

LONDON (ShareCast) - Footsie slumped for the third day in a row at the end of a tough week for London’s leading index.

Banks and miners were the main weak spots, with the former hit by the European Central Bank’s decision to get tougher on banks using its highly popular lending window while the latter are down with weaker commodity prices.

Barclays and Royal Bank of Scotland were among the worst-hit banks.

Among mining related stocks iron ore producer Ferrexpo is particularly hard hit as investors exit the stock ahead of its anticipated relegation from the Footsie 100. Kazakh rivals Kazakhmys and ENRC were both under pressure. Footsie relegation fears also weighed down ITV.

Oil groups were just about the only blue-chips making any headway today, with BG Group leading the way on renewed talk of a bid from ExxonMobil.

British Energy fell despite a report in the FT that Electricité de France is moving closer to a deal to buy the nuclear generator.

Pub group JD Wetherspoon's full year profits fell by 12.7% to £54.2m as the smoking ban and slowdown in consumer spending bit hard. Total sales increased by 2.1% to £907.5m, though on a like-for-like basis they fell 1.1%.

Elsewhere in the sector Punch Taverns is still friendless after abandoning its dividend earlier this week to conserve cash.

Music and entertainment retailer HMV Group's like-for-like sales rose by 1.3% in the 18 weeks to 30 August, in line with forecasts but markedly slower than the 10.1% seen in the previous quarter.

Carr's Milling has upped its full year forecast after very strong second half trading across all divisions and geographies with its largest division Agriculture especially good. Carr's now expects now expects profit before tax will be no less than £12.5m (2007: £5.5m). The firm also raised £2.7m with a placing at 660p.

Bus and Train group Go-Ahead upped full year profits by 19% to £131m, after all of its 12 subsidiaries increased their contribution. The dividend for the year rises by 15.7%.

Budget airline easyJet carried almost 24% more passengers in August than it did the year before, while passenger numbers grew by 8.8% at rival Aer Lingus last month.

Business publisher Informa is weaker after rejecting rejected a reduced 450p a share offer from the private equity consortium that has been stalking it for the last few months.

Churchill Mining has confirmed reports of a huge upgrade to its reserves at the East Kutai Coal Project in Indonesia. Churchill says it now has 1.4bn tonnes at the project but has only explored 20% of the site.

Multi-utility Telecom Plus expects results to exceed expectations "significantly" this year.

Scottish media outfit SMG has announced plans to change its name to stv group and return as much as £30m in cash to shareholders through a tender offer.

Shares in beleaguered optical drives maker Plasmon plummeted on news it is set to recommend a takeover bid from a US private equity firm worth just 0.25p per share.

Shares in oil and gas exploration company Circle Oil fall after the AIM-listed company raised new funds via a placing of shares at a substantial discount to the current share price.

FTSE 100 - Risers
RSA Insurance Group (RSA) 162.80p +2.84%
Cadbury (CBRY) 636.00p +2.25%
John Wood Group (WG.) 412.25p +0.92%
Unilever (ULVR) 1,591.00p +0.63%
Hammerson (HMSO) 914.50p +0.55%
Centrica (CNA) 316.00p +0.32%
Cairn Energy (CNE) 2,553.00p +0.12%
Next (NXT) 1,083.00p +0.09%
Severn Trent (SVT) 1,310.00p 0.00%
Associated British Foods (ABF) 790.00p -0.25%

FTSE 100 - Fallers
Johnson Matthey (JMAT) 1,441.00p -8.51%
Kazakhmys (KAZ) 975.50p -8.15%
Eurasian Natural Resources (ENRC) 805.50p -7.63%
Ferrexpo (FXPO) 184.00p -7.07%
Antofagasta (ANTO) 502.50p -7.03%
Amec (AMEC) 746.00p -5.75%
Xstrata (XTA) 2,465.00p -5.59%
Anglo American (AAL) 2,304.00p -5.19%
Vedanta Resources (VED) 1,530.00p -4.55%
Vodafone Group (VOD) 131.70p -4.50%

FTSE 250 - Risers
Daejan Holdings (DJAN) 2,768.00p +3.75%
JD Wetherspoon (JDW) 268.50p +2.87%
888 Holdings (888) 158.00p +2.60%
Imperial Energy Corporation (IEC) 1,155.00p +2.21%
Rank Group (RNK) 75.50p +2.03%
Workspace Group (WKP) 131.50p +1.94%
Misys (MSY) 164.25p +1.86%
Taylor Wimpey (TW.) 55.50p +1.83%
Bovis Homes Group (BVS) 446.75p +1.77%
Tate & Lyle (TATE) 445.25p +1.60%

FTSE 250 - Fallers
BlueBay Asset Management (BBAY) 258.50p -8.50%
Ashmore Group (ASHM) 244.25p -8.26%
Informa (INF) 385.75p -6.94%
Trinity Mirror (TNI) 109.00p -6.84%
ITE Group (ITE) 148.50p -6.75%
CSR (CSR) 305.25p -6.65%
Laird (LRD) 328.50p -6.28%
Aquarius Platinum (AQP) 404.00p -6.26%
Mapeley (MAY) 1,072.00p -6.21%
Mondi (MNDI) 303.75p -5.81%

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