London close: Footsie thanks miners for 6-year best
It was another six-year closing high for London's top 100 index Monday as miners held gains through to the finish and bid chat elsewhere helped cancel losses within the utilities sector.
Anglo American was the biggest blue chip riser ahead of its full year results due on Wednesday. The miner is expected to provide further details of a share buyback alongside the figures.
Vedanta Resources, Lonmin and Kazakhmys also ended the day with a big lead on firmer metal prices.
Meanwhile, supermarket group J Sainsbury was in positive territory following weekend reports that Marks & Spencer may join a bidding consortium for the chain.
M&S could link up with two Qatari investment funds to make a play for the group, the story goes. A combination of the pair would create a company with 1,100 UK stores.
DSG International picked up sharply as bid speculation continues to underpin the shares. Recent reports have linked the electrical retailer with Sweden's Electrolux as well as vague talk of private equity interest.
Lloyds TSB was little changed following reports that the bank is weighing up the possible sale of its Abbey Life unit. Analysts have put a price tag of some £1bn on the unit.
The utility sector was in the doldrums though as International Power and Kelda featured in the red, while United Utilities sprang a leak after Goldman Sachs cut the shares to 'sell' from 'neutral' with target price down to 520p from 554p.
ING downgraded shares in Centrica to "hold" from "buy" and kept its price target unchanged at 365p, while Citigroup chopped shares in publisher Reed Elsevier to "hold" from "buy".
Deutsche Bank also chopped shares in AB Foods to "hold" from "buy" citing concerns over its clothing chain Primark and sugar business.
Social housing firm Enterprise is in talks with investment group 3i regarding a potential offer at 605p per share, which values the group at about £485m. It comes one month after Enterprise rejected a 575p offer from an unnamed party.
Specialist mortgage lender Kensington Group admitted today that it is considering a sale of the group, following reports it is looking for a US buyer.
Taylor Nelson Sofres, the market research group, has snapped up a small American firm to build on its shopper research business in the country.
The firm has agreed to acquire in-store market research specialist, Sorensen Associates. The business had revenue for the year to September of $5m with gross assets of $2m. Financial terms of the deal were not disclosed.
F&C Asset Management rallied on weekend press chat that Aberdeen Asset Management is ready to tie the knot, although some say a deal is unlikely.
Following two revenue warnings last year Intec Telecom has announced that both chief executive Kevin Adams and finance director John Arbuthnott have left the company with immediate effect.
There were new highs for UraMin Monday after the uranium explorer said it plans to examine its strategic options in light of the consolidation taking place in the uranium sector.
Building and maintenance firm Interserve said it has secured a place in the Environment Agency's NCF2 framework programme, which is worth £500m.
Ultra Electronics has also won a clutch of new contracts with the US Navy to provide sonobuoys worth $30m. Delivery of the sonobuoys will be made over a twelve month period starting in late 2007.
Bid target and ringtone firm Monstermob reiterated to shareholders again today that it will issue new shares to Spanish mobile firm LaNetro Zed as it provides the only solution to its funding crisis.
Support services firm Empresaria enjoyed strong growth last year, adding that the strong trade experienced at the end of 2006 has continued into the new year.
FTSE 100 - Risers
Anglo American (AAL) 2,622.00p +3.31%
Lonmin (LMI) 3,290.00p +2.94%
Kazakhmys (KAZ) 1,126.00p +2.46%
Vedanta Resources (VED) 1,309.00p +1.79%
Sainsbury (SBRY) 512.75p +1.74%
BHP Billiton plc (BLT) 1,107.50p +1.65%
Experian (EXPN) 622.00p +1.63%
DSG International (DSGI) 179.00p +1.56%
Capita Group (CPI) 668.00p +1.37%
Hammerson (HMSO) 1,680.00p +1.33%
FTSE 100 - Fallers
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Reed Elsevier (REL) 624.50p -1.81%
Kelda (KEL) 924.50p -1.44%
Yell Group (YELL) 632.50p -1.09%
Drax (DRX) 662.00p -1.05%
Cairn Energy (CNE) 1,576.00p -1.01%
Scottish & Southern Energy (SSE) 1,507.00p -0.92%
International Power (IPR) 375.00p -0.86%
Compass Group (CPG) 310.00p -0.64%
National Grid (NG.) 786.00p -0.63%
Reckitt Benckiser (RB.) 2,679.00p -0.63%
FTSE 250 - Risers
Hochschild Mining PLC Ord 50p (WI) (HOC) 372.75p +5.00%
Keller Group (KLR) 983.00p +4.02%
Renishaw (RSW) 773.50p +3.76%
Babcock International (BAB) 449.75p +3.39%
LogicaCMG (LOG) 176.50p +3.07%
Pendragon (PDG) 110.00p +3.04%
Henderson Group (HGI) 150.00p +2.92%
PartyGaming (PRTY) 36.50p +2.82%
Paragon Group (PAG) 637.00p +2.74%
Merril Lynch World Mining Trust (MLW) 474.00p +2.71%
FTSE 250 - Fallers
Daejan Holdings (DJAN) 5,180.00p -2.26%
British Energy Group (BGY) 391.00p -2.13%
MyTravel Group 'A' Ord (MT.S) 311.00p -1.97%
Filtrona PLC (FLTR) 256.75p -1.82%
Helical Bar (HLCL) 478.00p -1.44%
Autonomy (AU.) 682.50p -1.44%
Pennon (PNN) 569.75p -1.04%
Venture Production (VPC) 674.50p -1.03%
Morgan Crucible (MGCR) 293.00p -1.01%
EMAP (EMA) 734.50p -1.01%
