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London open: Miners take the lead
Wed, 08 Feb, 2012
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London open: Miners take the lead
Thu, 26 Aug 2010, 07:46:00
Miners are leading the way in early dealings on Thursday with Kazakhmys the best performer after the Kazakh firm's half year figures were well received. Industrial metals miner <b>Kazakhmys</b> said it remains positive on the copper market after an improvement in prices for the red metal helped it post a sharp rise in revenues and earnings in the six months to June 30. Revenues climbed to $1.52bn from $1.12bn over the same period a year ago, while underlying profits were up to $696m from $269m. Average copper prices climbed by 73% to $6,981. <b>Eurasian Natural Resources, Xstrata, Fresnillo</b> and <b>Rio Tinto</b> are also among the top performers. Industrial property owner <b>SEGRO</b> is the biggest faller despite having recently seen an encouraging increase in the levels of enquiries and growing interest in pre-let developments.The company hopes to capitalise on this growing level of interest after it managed to edge up net asset value (NAV) per share in a challenging first half of the year. Full year results from <b> Diageo</b> showed a continuation of the improving trend seen in the Guinness brewer's third quarter as developing markets drove overall growth while markets in North America and Europe remained weak. The group, famous for brands such as Smirnoff, Johnnie Walker, Captain Morgan and Baileys, said a stronger second half performance has driven full year growth. Sales and underlying profits from security group <b>G4S</b> in the first half of 2010 were slightly ahead of market expectations, despite the trading environment remaining challenging. Group turnover was up 4% at constant exchange rates (CER) to £3,632.2m from £3,493m in the first half of last year. The market had pencilled in a figure of £3.6bn for sales. Betting firm <b>William Hill</b> only posted a small rise in half year profits as gains from the football World Cup were partly offset by poor horseracing results. Pre-tax rose to £105.7m in the 26 weeks ended 29 June 2010 compared with £103.1m in the 26 weeks ended 30 June 2009. Turnover was up 12% to £8.64bn. The interim dividend is unchanged at 2.5p per share. Russian gold miner <b>Petropavlovsk</b> fell into the red in the six months to June 30 after problems at its main mine led to a shortfall in production. Student landlord <b>Unite</b> posted an 8% rise in adjusted fully diluted NAV per share and said it is well placed to build on progress over the remainder of 2010 and into 2011. <b>FTSE 100 - Risers</b> Kazakhmys (KAZ) 1,100.00p +2.52% Eurasian Natural Resources (ENRC) 847.00p +2.42% Inmarsat (ISAT) 677.00p +2.42% Xstrata (XTA) 998.50p +2.29% Barclays (BARC) 304.80p +2.28% Fresnillo (FRES) 1,020.00p +2.26% InterContinental Hotels Group (IHG) 1,022.00p +2.25% Rio Tinto (RIO) 3,170.50p +2.11% Shire Plc (SHP) 1,415.00p +2.02% Sage Group (SGE) 244.00p +1.96% <b>FTSE 100 - Fallers</b> SEGRO (SGRO) 262.80p -4.44% Diageo (DGE) 1,048.00p -1.69% Essar Energy (ESSR) 390.00p -1.44% Capital Shopping Centres Group (CSCG) 324.50p -0.28% British Land Co (BLND) 448.50p -0.20%
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