LONDON (ShareCast) - Blue chips closed more or less where they started after a mixed day dominated by concerns over oil prices and UK house prices.

House prices fell by 2.5% in May according to the building society Nationwide, the worst fall since it started monitoring them. Banks HBOS, Barclays and Royal Bank of Scotland all fell. Bradford & Bingley was another heavy faller on fears for its rights issue.

Housebuilders also suffered in the wake of the Nationwide data.Persimmon, Taylor Wimpey and Barratt all ended lower. Barratt also said it will appoint Bob Lawson as its new non executive chairman, succeeding Charles Toner who will be retiring. Lawson, who is currently chairman of recruitment firm Hays.

Tullow, BP, BG and Shell provided some offset, as oil prices rose again yesterday while miners Eurasian Natural Resources, Antofagasta and Kazakhmys were also in demand. Imperial Energy gained on a good take-up of its recent cash call.

A strong improvement in net performance fee income drove full year profits growth at hedge fund manager Man Group. Pre-tax profit in the year to 31 March 2008 rose 60% $2,079m from $1,301m the year before. Analysts had pencilled in a pre-tax profit figure of to $1,946m. Deputy chairman Stanley Fink also stood down.

Power firm Scottish & Southern Energywas lower despite saying full year adjusted pre-tax profit rise 13.9% to £1.23bn on revenue that rose to £15.2bn from £11.8bn previously.

Mining group Rio Tinto followed up yesterday’s update on its Indonesian resources with an evaluation of its mineral resources at La Granja, Peru.

Waste management firm Shanks said full year results reflected the strong trading in the majority of its businesses with the exception of Belgium, which suffered due to new legislative restrictions. Headline profit for the year rose 11% to £44.8m on revenue that also increased 11% to £564m.

Blacks Leisure, which owns Blacks and Millet, the chains selling gear to campers, skiers and other outdoor enthusiasts, reported profits before tax and exceptional items of £0.3m in the year ended 1 March compared with £0.1m last time.

Shares in surfwear specialist Hot Tuna shot ahead after it said total like-for-like sales for the 2008 spring, summer season increased nearly fourfold

Photographic retailer Jessops saw first half sales fall 24.7% and warned that it now expects to make a small loss for the year but added that margins have improved.

Set-top box maker Pace has signed a “significant” new contract for the US cable market to provide a low cost digital to analogue converter product. The deal prompted the board to forecast that results for the year will now materially exceed existing expectations.

FTSE 100 - Risers
Man Group (EMG) 619.00p +5.18%
Eurasian Natural Resources (ENRC) 1,481.00p +5.04%
Cairn Energy (CNE) 3,419.00p +3.14%
Old Mutual (OML) 115.60p +3.12%
Tullow Oil (TLW) 922.00p +2.73%

FTSE 100 - Fallers
Persimmon (PSN) 487.50p -5.06%
HBOS (HBOS) 414.25p -3.89%
Wolseley (WOS) 537.50p -3.50%
Home Retail Group (HOME) 228.75p -3.07%
Kingfisher (KGF) 135.70p -3.00%

FTSE 250 - Risers
PayPoint (PAY) 607.00p +11.38%
Aveva Group (AVV) 1,435.00p +6.30%
Telecity Group (TCY) 240.00p +6.08%
Assura Group (AGR) 99.00p +5.60%
Imperial Energy Corporation (IEC) 985.50p +5.34%

FTSE 250 - Fallers
Taylor Wimpey (TW.) 85.50p -8.56%
Galiform (GFRM) 57.00p -8.06%
Bradford & Bingley (BB.) 90.50p -6.94%
Grainger (GRI) 282.00p -6.00%
Findel (FDL) 230.00p -5.83%

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