LONDON (ShareCast) - London’s top stocks have added to the earlier stellar gains thanks to a triple-digit start on Wall Street.

A string of results in London got the thumbs up, with Rexam leading the pack. Interim profit leapt 61% at the can maker which expects trading in the second half to match expectations. Underlying pre-tax profit rose to £158m in the six month ended 30 June versus £98m last time.

Car insurance group Admiral also surged after posting record half year profits and a 26% dividend hike. Pre-tax profit rose 16% to £100.3m on turnover up 13% to £472.5m.

Strong figures also buoyed insurer Aviva, which posted a 12% increase in first half profit and remains confident about the future prospects. It will also make a £1bn offer to eligible policyholders to reattribute surplus money in two with-profit funds, known as the inherited estate.

But Lloyds TSB was down after first half profit before tax on a statutory basis plunged 70% to £599m as the bank took a £585m hit from “market dislocation”. Profit on a continuing businesses basis fell 19% to £1.57bn, but rose 11% excluding the write-down.

Miner Xstrata said it expects a "significantly stronger" second half performance across the portfolio. Ferrexpo, Anglo American and Vedanta Resources joined the rally.

Confectionery giant Cadbury revealed a 46% jump in first half profit and issued a confident outlook for the remainder of 2008.

British Airways continued its ascent after yesterday’s announcement that it is in merger talks with Spain’s Iberia. The news prompted Cazenove and Deutsche Bank to upgrade their ratings on the UK airline.

Citigroup has raised its recommendation on BP to ‘buy’ from ‘hold’ after the oil giant’s solid second quarter results Tuesday.

RSA Insurance Group, formerly Royal & Sun Alliance, said the litigation between General Motors with current and former members of RSA has been settled on terms which are confidential. The group added the settlement will have no effect on RSA's earnings.

Fashion retailer Next said it remains ‘very cautious’ on its second half outlook as it reported a 6% fall in first half underlying like-for-like sales.

Landsbanki has slashed its profit forecasts for Woolworths and lowered its rating on the high street retailer to ‘reduce’ from ‘hold’ following Tuesday’s gloomy trading update.

Data centers operator Telecity Group posted maiden profits during its interims and said it continues to perform ahead of its own forecasts.

Packaging firm Mondi saw half year operating profits increase by 8%, driven by a strong performance from its Europe & International division. Underlying operating profit rose to €263m in the six month ended June compared with €243m last time.

Investment bank Close Brothers said its performance continues to be relatively resilient and expects a broadly satisfactory outcome for the 2008 financial year.

James Cropper said volatility in forward gas prices over the last month has been sufficient, at its peak, to potentially reduce the paper manufacturer’s results for the full year to a loss.

Shares in Business Direct more than doubled after the parcel group said a sale of all or part of business is the most likely option to secure funding.

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