LONDON (ShareCast) - Shares have remained mixed throughout the day, with the effects of Friday’s sharp rise in the price of crude oil mitigated by today’s retreat from the $139 a barrel seen last week.

BG Group, BP, Shell, Tullow, John Wood and Cairn are showing good gains on the back of Friday’s surge in the crude oil price while fuel users such as British Airways, Carnival and First Group are under the cosh. Aircraft engine manufacturer Rolls-Royce takes some collateral damage from the airline industry’s woes.

Mining stocks are also on the up, with Vedanta, Anglo American and Kazakhmys leading the way. ENRC defies the trend, however, and slips back.

Housebuilders remain out of favour, with Persimmon, Barratt Developments and Redrow the worst affected. Retailers are also friendless, with Sainsbury hit by an “underweight” rating from Lehman Brothers while Marks & Spencer is weak on rumours of loss of market shares in women’s clothing.

Royal Bank of Scotland has confirmed valid acceptances of 95.11% for its £12bn rights issue. The success of the RBS rights seems to have done more for Bradford & Bingley’s share price, however, as the bank undertakes a City charm offensive to get its own rights call successfully away. Elsewhere in the banking sector HBOS falls back after SG Securities cut its price target for the stock while Barclays is lower on week-end reports that it is seeking further cash infusions from sovereign wealth funds.

Media groups Informa and UBM have also confirmed they are in talks about a merger. If completed a deal would ceate a £3bn media giant.

Sportswear retailer John David reports steady sales in the 7 weeks of trading to 31 May 2008, with cumulative like for like sales growth marginally improved in both the Sports and Fashion Fascias. Gross margins have been maintained, but further increases are proving to be challenging to achieve JD saw like for like sales growth of +4.2% (Sports Fascias +4.0%; Fashion Fascias +4.9%) for the 10 weeks ended 12 April 2008.

Electricals retailer DSGI is under pressure after Goldman Sachs cut its rating on the stock to “sell” from “neutral”. Property developer Quintain Estates slides as Merrill Lynch cuts its price target for the stock from 350p to 299p and maintains its “underperform” rating. In contrast, broker comment lifts oil services firm Petrofac; UBS now rates the stock a “buy”.

Port operator Forth Ports floats higher after Babcock & Brown European Infrastructure Fund raised its stake above 20%.

Nord Anglia has confirmed it has received an approach at 450p per share in cash. After consultation with a number of shareholders, the board, which has been advised by Hawkpoint Partners Limited, has rejected the approach which it does not believe reflects the strong growth prospects of the company. Reports suggest the offer, worth £179.5m, came from Baring Private Equity Asia.

Property investor Dawnay Day Treveria is undertake a strategic review to look at ways to reduce its discount to asset value and will consider a sale of all or part of the company

Shares in ArgentVive slumped after the e-commerce group said some of its activities are trading below budget as deputy chairman Charles Denton withdraws his interest of making an offer for the group.

A counter-bid for Taylor Nelson Sofres (TNS) from WPP Group could still be on the cards, though it does not seem to have done much for TNS’s share price. TNS said it will provide advertising and marketing firm WPP with certain information relating to the company that it has provided to merger partner GfK after a request from WPP under the Takeover Code

Industrial chain maker Renold climbs higher after saying its results will be well ahead of market expectations.

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