London close: Footsie ends with strong gains
London's top stocks ended with strong gains as pub groups helped sentiment, while financials were also higher.
Home Retail was a strong riser on vague bid talk. Aero engine maker Rolls Royce also did well after a bullish update of the second quarter.
Financials, such as Schroders, IAP and Invesco,rose ahead of the interest rate decision on Thursday.
Scottish & Newcastle was little changed despite admitting that UK operating profit will be lower in the first half compared with the previous year. But the group reckons the full year will be in line with expectations.
Greene King stoked up the pub groups. Profits last year came in slightly ahead of forecasts at £139.8m, up 17%, with strong performances in all its divisions.
More crucially it said it aims to put 35% of its pub estate, 872 pubs, into a joint venture with a specialist property partner. This may deliver the best balance between realising value and retaining some operational control, it said.
Punch Taverns led the risers while Enterprise Inns was also up on hopes that the two groups could unlock some property value by doing something similar.
Lonmin pushed ahead on talk of a bid in the offing. Other miners also did well in sympathy. Anglo American and Xstrata were among the risers.
Electrical retailer Kesa jumped after it admitted receiving approaches for its French furniture and electrical retail subsidiary BUT.
Mondi, the former packaging arm of Anglo American, slipped down on its first full day of trading since its demerger.
Data sorting software group Autonomy expects to report record second quarter 2007 results, with revenues and profit before tax (adjusted and IFRS) significantly ahead of consensus estimates and ahead of the top end of analysts' forecasts. The group has also bought US rival Zantaz in a very well-received deal.
Accident management services firm Helphire predicts full year results will be in line with expectations following a "very strong" second half that saw business levels remain high in the final quarter.
Waste treatment firm TEG has warned that that some expected 2007 profits would not be booked until the following year due to a delay to a key contract.
Spread betting firm London Capital has forecast interim profits would be around 50% ahead of its original expectations.
Shares in online research group Research Now nearly halved as it warned it had found previously unrecorded costs of £0.6m that will mean it missing profit expectations for 2007.
FTSE 100 - Risers
Punch Taverns (PUB) 1,262.00p +3.44%
Home Retail Group (HOME) 469.75p +3.24%
Lonmin (LMI) 4,310.00p +3.13%
Antofagasta (ANTO) 646.00p +2.87%
ICAP (IAP) 492.75p +2.76%
Prudential (PRU) 725.00p +2.76%
Rexam (REX) 511.50p +2.76%
Schroders (SDR) 1,315.00p +2.73%
Invesco (IVZ) 665.00p +2.70%
Johnson Matthey (JMAT) 1,737.00p +2.60%
FTSE 100 - Fallers
British Energy Group (BGY) 527.00p -1.40%
Kelda Group (KEL) 943.00p -1.31%
BG Group (BG.) 824.00p -0.90%
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Cadbury Schweppes (CBRY) 665.50p -0.67%
Diageo (DGE) 1,035.00p -0.67%
Shire (SHP) 1,224.00p -0.49%
Reuters Group (RTR) 617.00p -0.48%
Carnival Corporation (CCL) 2,347.00p -0.34%
Centrica (CNA) 384.00p -0.32%
Pearson (PSON) 834.00p -0.12%
FTSE 250 - Risers
Autonomy Corporation (AU.) 825.00p +13.32%
Daejan Holdings (DJAN) 4,225.00p +8.33%
Greene King (GNK) 1,036.00p +7.92%
Kesa Electricals (KESA) 337.00p +7.24%
IG Group Holdings (IGG) 311.00p +6.51%
Helphire Group (HHR) 407.50p +6.40%
Croda International (CRDA) 690.50p +5.66%
Hochschild Mining (HOC) 355.50p +5.65%
Assura Group (AGR) 212.25p +5.60%
Regus Group (RGU) 143.00p +5.54%
FTSE 250 - Fallers
Northern Foods (NFDS) 110.00p -3.08%
Avis Europe (AVE) 48.50p -2.51%
Mondi (MNDI) 490.00p -2.00%
John Wood Group (WG.) 336.25p -1.68%
Morgan Crucible (MGCR) 292.75p -1.60%
Britvic (BVIC) 385.00p -1.47%
Derwent London (DLN) 1,797.00p -1.16%
Pendragon (PDG) 78.50p -0.95%
Expro International Group (EXR) 987.00p -0.65%
Mitie Group (MTO) 268.25p -0.56%
