LONDON (ShareCast) - Miners are largely responsible for lifting London off early morning lows, but the leading index remains deep in negative territory as overnight losses in the US weigh elsewhere.

Better metal prices pushed Eurasian Natural Resources, Antofagasta, Vedanta, BHP Billiton and Rio Tinto higher, although some of the gains are slim.

Credit checking firm Experian is best of the bunch so far after reporting a 1% rise in first quarter organic revenue, despite market expectations of a decline.

But Associated British Foods is down despite posting a 24% jump in third quarter revenues as it said like-for-like sales at its discount fashion chain Primark was held back by weak trading in April due to the deteriorating consumer background.

The group also said difficult conditions are having an impact on consumer demand but aside from the sugar division, it still expects profit to rise in the second half in the rest of the group.

Other retailers such as Kingfisher, Next and Carphone Warehouse are posting big losses.

Hedge fund manager Man Group said funds under management (FUM) rose to $79.5bn at 30 June 2008 from $74.6bn at 31 March 2008.

Homebuilder Barratt Developments announced 1,200 job cuts, and expects to take an £85m write-down hit in its full-year results. It said total completions in the year to 30 June 2008 rose 8.3% to 18,588 but fell 13.8% on a like-for-like basis.

German firm GfK clarified today that there was no certainty it will make an offer for market research group Taylor Nelson (TNS).

Discount sports retailer Sports Direct reported a 51.1% fall in full year profit and does not expect to see much growth this year as it battles against a decline in consumer spending.

Strong international growth compensated for a slowdown in the UK market in the final quarter of recruitment firm Hays’s financial year.

Digital photography firm Photo-Me International reported a full year loss after it was hit by £19.8m of strategic and restructuring costs.

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