London close: Resource rally keeps Footsie in blue
Miners hogged the blue chip leader board Monday on sector consolidation hopes while rising crude prices helped oil majors offset weaker banks and financial issues.
Investors grew excited at comments in yesterday's Observer that Brazil's CVRD, Xstrata and Rio Tinto are lining up a break-up bid for Anglo American worth $80bn. Higher metal prices also gave stocks a boost.
In addition, BHP Billiton improved on talk in the weekend press that it is mulling a return of as much as $3bn to shareholders.
Online poker giant PartyGaming jumped on newspaper rumours suggesting it is the main contender for Victor Chandler's Gibraltar-based betting empire.
Meanwhile, financial firms were on the back foot, with Man Group, Northern Rock, Standard Chartered and HSBC all lower.
A new survey showing that the number of actual transactions in the British housing market fell to a six month low in July kept mortgage lenders under pressure.
Merrill Lynch issued 'buy' advice on InterContinental Hotels, but the shares lost early gains, although Iran supply concerns had oil prices on the rise, helping BP and Royal Dutch Shell advance.
Advertising giant WPP fell despite reporting a 30% increase in first half pre-tax profit last Friday as analysts remain cautious about future organic revenue growth.
Elsewhere, property developer Hammerson has disposed of a further chunk of its portfolio with the sale of its Liberty shopping centre in Romford.
The group exchanged contracts for the sale of the freehold interest in its Romford-based Liberty Shopping Centre and the adjacent office buildings, to Cosgrave Property Group for £281m.
Soft drink can maker Rexam announced today that it is establishing alliances within the Indian market as it looks to expand the business.
Software group LogicaCMG topped the mid cap losers after it agreed to buy Nordic IT service company WM-data for 11.9bn Swedish crowns (£882m) in a cash and share offer.
Business accommodation provider Workspace said adjusted net asset value of its properties rose 7.7% in the three months to 30 June and has made a good start to the year.
Business-to-business magazine firms Metal Bulletin and Wilmington have terminated the proposed merger between the two groups.
Oil and gas explorer Regal Petroleum was encouraged by news that it had been granted a new court hearing relating to legal action brought by Chernihivnaftogasgeologia, although the shares finished flat
Premiership football club Newcastle United soared after Belgravia confirmed recent press speculation that it was considering making an offer for the group.
Engineering specialist Keller reported a stellar set of half year earning results and says it has started the second half on strong footing.
Property group Brixton confirmed today that it has exchanged contracts to buy the old British headquarters of Guinness.
Aero Inventory hit its best since early June after the aero parts distributor said Qantas Airways has selected the company as its preferred supplier for the provision of expendable and recoverable aircraft parts.
Specialist information business Electric Word turned in a profit for the first half, as the group benefited from its recent strong of acquisitions.
FTSE 100 - Risers
Anglo American (AAL) 2,455.00p +3.63%
PartyGaming (PRTY) 114.50p +3.15%
Kazakhmys (KAZ) 1,232.00p +1.90%
BHP Billiton plc (BLT) 1,050.00p +1.74%
Lonmin (LMI) 2,854.00p +1.64%
Persimmon (PSN) 1,276.00p +1.35%
Rio Tinto (RIO) 2,756.00p +1.25%
Royal Dutch Shell 'A' (RDSA) 1,906.00p +1.22%
Johnson Matthey (JMAT) 1,294.00p +1.17%
Antofagasta (ANTO) 435.75p +1.10%
FTSE 100 - Fallers
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3i (III) 930.50p -1.48%
WPP (WPP) 643.50p -1.30%
Next (NXT) 1,633.00p -1.27%
Enterprise Inns (ETI) 993.00p -1.14%
Rentokil Initial (RTO) 160.25p -1.08%
BAE Systems (BA.) 365.50p -1.08%
Standard Chartered (STAN) 1,316.00p -1.05%
Kelda (KEL) 816.00p -0.97%
HSBC Holdings (HSBA) 945.00p -0.89%
Schroders (SDR) 938.00p -0.85%
FTSE 250 - Risers
Randgold Resources (RRS) 1,203.00p +5.16%
Premier Oil (PMO) 992.50p +3.71%
IG Group Holdings (IGG) 232.75p +3.33%
JPMorgan European Investment Trust Growth Shares (JETG) 201.50p +3.33%
Dana Petroleum (DNX) 1,259.50p +2.77%
RPS Group (RPS) 222.50p +2.18%
Greggs (GRG) 4,217.00p +2.01%
Forth Ports (FPT) 1,815.00p +1.97%
Burren Energy (BUR) 920.00p +1.88%
Soco International (SIA) 1,295.00p +1.81%
FTSE 250 - Fallers
LogicaCMG (LOG) 159.50p -7.54%
JKX Oil & Gas (JKX) 298.00p -5.40%
SThree (STHR) 300.00p -3.54%
Dimension Data (DDT) 35.50p -3.40%
Marshalls (MSLH) 320.00p -3.03%
BSS Group (BTSM) 330.00p -2.94%
Rightmove (RMV) 276.00p -2.73%
Debenhams (DEB) 185.00p -2.63%
PayPoint (PAY) 503.50p -2.61%
Morgan Crucible (MGCR) 267.00p -2.55%
