London close: Big gains as updates impress

21st Jun 2011 16:41

Hopes that the Greek debt crisis could be resolved coupled with some strong company statements had the top share index posting big gains by the close of play.Cruise operator Carnival's shares steamed ahead in the afternoon, after the company revealed that second quarter revenues grew by $353m in the three months ended 31 May. Second quarter revenues grew from $3.3bn to $3.6bn, due to increased capacity and improved ticket prices, the firm said. Net revenue yields (at constant currency) increased by 2.3% compared with the prior year. Strong sales growth at Costa coffee shops helped hotel and restaurant group Whitbread, another strong performer, to offset subdued activity in its restaurant division to grow total sales by 9.2% in first quarter. SABMiller was lacking fizz after its £7.30bn offer for Australian rival Foster's Group was rejected by the Foster's board, as it "believes that the proposal significantly undervalues the company."In the FTSE 250, Misys posted big gains after it confirmed recent speculation over a possible offer for the IT group. According to recent reports, US IT groups such as Sungard and Fiserv, which like Misys have a focus on the financial sector, may be interested in bidding for the company.Russian gold miner Petropavlovsk shone after production was ahead of target in the first five months of 2011 and the company said it would not need to seek additional funding for its expansion plans.Plastic packaging supplier RPC was wanted after it revealed a surge in full year pre-tax profit and expects further growth from mature European and emerging markets. Pre-tax profit rose to £34.6m for the year to 31 March from £19.2m a year earlier. Sales increased by £99.3m to £819.2m. Plastic packaging supplier RPC is a high riser on the FTSE 250 after pre-tax profit rose to £34.6m for the year to 31 March from £19.2m a year earlier. "Driving the growth are sales of higher added value products into sectors such as coffee capsules, personal care, long shelf-life and pharmaceuticals," said RPC in a company statement. Providing a drag on the FTSE 250 however was Jupiter Fund Management after a share placing. Nevertheless, the group revealed a 3% growth in assets under management. "Against the backdrop of a more challenging flow environment, Jupiter has continued to make good progress," said chief executive, Edward Bonham-Carter.Rising prices and tough trading conditions mean that meat-focused retailer Crawshaw, a heavy faller today, now expects profits for the current year to fall below expectations. The group - which owns 20 butchers in the north of England - said that sales in recent weeks have been below expectations, and like-for-like sales for the year-to-date are now 2% below the previous year.FTSE 100 - RisersWhitbread (WTB) 1,587.00p +6.87%Carnival (CCL) 2,324.00p +6.02%Kazakhmys (KAZ) 1,297.35p +5.31%Antofagasta (ANTO) 1,272.00p +5.12%Fresnillo (FRES) 1,368.00p +4.67%Wolseley (WOS) 1,965.00p +4.30%Man Group (EMG) 230.60p +4.11%Petrofac Ltd. (PFC) 1,543.98p +3.97%Amec (AMEC) 1,109.26p +3.96%Vedanta Resources (VED) 1,971.59p +3.55%FTSE 100 - FallersSABMiller (SAB) 2,103.00p -3.62%Imperial Tobacco Group (IMT) 2,000.00p -1.14%Pearson (PSON) 1,139.00p -0.96%United Utilities Group (UU.) 595.50p -0.75%Reckitt Benckiser Group (RB.) 3,350.00p -0.65%Associated British Foods (ABF) 1,058.00p -0.47%Tate & Lyle (TATE) 639.00p -0.47%Sainsbury (J) (SBRY) 322.20p -0.43%Tesco (TSCO) 402.40p -0.37%Capita Group (CPI) 739.50p -0.27%FTSE 250 - RisersMisys (MSY) 418.90p +8.95%Petropavlovsk (POG) 729.50p +7.60%Supergroup (SGP) 908.00p +5.21%Cookson Group (CKSN) 651.50p +4.24%Cable & Wireless Worldwide (CW.) 51.05p +4.18%RPC Group (RPC) 354.00p +3.87%Millennium & Copthorne Hotels (MLC) 486.10p +3.62%Melrose (MRO) 342.00p +3.57%TUI Travel (TT.) 221.40p +3.46%Centamin Egypt Ltd. (CEY) 120.70p +3.43%FTSE 250 - FallersTelecom Plus (TEP) 637.50p -8.93%Ocado Group (OCDO) 199.90p -3.43%Devro (DVO) 260.00p -3.23%Bwin.party Digital Entertainment (BPTY) 132.00p -3.23%PZ Cussons (PZC) 353.60p -2.99%Kier Group (KIE) 1,333.00p -2.70%Kesa Electricals (KESA) 133.90p -2.33%Betfair Group (BET) 801.00p -2.32%Anglo Pacific Group (APF) 296.50p -2.15%Jupiter Fund Management (JUP) 250.00p -2.08%