LONDON (ShareCast) - London's blue chips are sliding again having attempted a rally mid-morning. Housing-related stocks are down as mortgage approvals hit a record monthly low in December.

Vodafone and credit checker Experian are the two best performers at lunchtime. Vodafone is up ahead of third quarter KPI's tomorrow, which are expected to be upbeat.

Rio Tinto is up on a rumour it is talking to BHP Billiton over an increased offer even though BHP recently insisted it would not up its price.

Standard Life is down over 3% despite a 12% rise in 2007 worldwide life and pensions sales, slightly ahead of analysts' forecasts, but iit s more cautious over prospects in 2008. New business for the group totalled £16.3bn. In the UK, Standard Life sales climbed 15% to £13.2bn. "The early indications are that some of the markets in which we operate will remain difficult in 2008," Standard Life said.

It also confirmed Trevor Matthews had resigned. He is tipped to take over as new chief executive at Friends Provident.

Travel group Thomas Cook's pro-forma profit from operations was €375.3m (up 26%) in the year to October. Trading for the winter 07/08 season is in line with expectations, with demand ahead of capacity. Trading for summer ‘08 is encouraging in all markets and we are in a strong position for the rest of the year, it said.

JP Morgan has reacted to yesterday's trading update from Cook’s peer TUI Travel by raising its price target on the travel firm to 425p from 400p and keeping its ‘overweight’ rating.

Miner Vedanta Resources saw underlying profit fall by 7% in the third to $671.5m from $724m, blamed on the weak rupee. Revenue for the quarter and nine months ended 31 December 2007 was $1.89bn and $5.78bn, up 7% and 21%.

Banknote maker De La Rue said its remains confident in its trading outlook and cash generation for the year. Within Security Paper & Print, trading during the period has been in line with expectations, said the group, with continued strong level of banknote demand supporting revenue and margin improvement.

A confident Chloride has upped its expectations for the current year after a good third quarter. "The product order book again increased, and the operating margin has continued to strengthen against the prior year. Accordingly the full year results are expected to be slightly ahead of management's previous expectations," it said.

Soft drinks firm Britvic said it is confident to meet full year expectations as it posted a 31% jump in quarterly revenue helped by its Irish acquisition, though UK sales again struggled.

Shares in Hull-based telecoms group KCOM slipped as it cautioned first half margins in its managed services business are likely to come in at the lower end of its guidance range.

Toledo Mining slumped to its lowest in 10 months after the nickel miner said wet conditions impacted production and shipments to Australia and China during the fourth quarter.

Oakdene Homes lost over a quarter of its value Wednesday as the housebuilder focused on South East England warned that 2007 pre-tax profit will be materially below market expectations.

• News Channel